NVIDIA Q2 2024 EARNINGS LIVE | JENSEN HUANG SPEAks

00:00 - Intro
15:00 - Market close & Salesforce and Crowdstrike earnings
35:00 - NVDA earnings out
1:28:35 - Earnings call starts
1:50:15 - Jensen Q&A Starts
2:34:00 - Breakdown

[etfacetimehome]

1. Strong financial performance:
- Record quarterly revenue of $30 billion, up 122% year-over-year
- Data center revenue of $26.3 billion, up 154% year-over-year
- EPS beat expectations at $0.68 vs $0.64 expected
- Revenue guidance of $32.5 billion for Q3, above expectations

2. Continued strong demand for AI chips:
- Hopper GPU demand remains strong
- Blackwell next-gen architecture sampling to customers, production ramp in Q4
- Expect "several billion dollars" in Blackwell revenue in Q4

3. Expanding AI ecosystem and use cases:
- Growth in frontier model makers, consumer internet services, AI startups
- Enterprise AI adoption accelerating across industries
- New opportunities in robotics, healthcare, automotive

4. Shift to accelerated computing:
- Jensen Huang emphasized transition from general-purpose to accelerated computing
- Nvidia well-positioned as data centers modernize

5. Challenges and concerns:
- Gross margins slightly lower at 75.7% due to new product mix
- Some concern about decelerating rate of earnings beats
- Questions about ROI and sustainability of AI investments by customers

6. Stock reaction:
- Shares down ~6% after hours despite beat and raise
- Some analysts view pullback as buying opportunity given long-term outlook

7. Future outlook:
- Management very optimistic on AI growth trajectory
- Expect significant data center business growth next year
- Blackwell seen as "game changer" for the industry

[Soonfree]

lol that introduction just gets me everytime.

[BrookConstance]

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