Nvidia will release Q2 results on August 23-24, which is expected to increase by more than 50% year-on-year.

CTOnews.com, August 20, according to a report in Taiwan's Economic Daily early this morning, Nvidia will release its Q2 results for fiscal year 2024 on August 23, US time (between August 23 and August 24, Beijing time). According to the report, outsiders expect the company's financial results to be able to "further verify the real benefits brought by AI" and to know a clear long-term outlook.

For reference, Nvidia's total revenue from Q1 in fiscal year 2024 was $7.19 billion (CTOnews.com Note: currently about 52.487 billion yuan), down 13% from the same period last year, but up 19% from the previous quarter. Its data center-related performance is a year-on-year, month-on-month double-digit growth.

Nvidia expects Q2 performance in fiscal year 2024 to exceed $11 billion (currently about 80.3 billion yuan), a year-on-year increase of "more than 50%".

Nvidia CEO Huang Renxun has said that the computer industry is undergoing two simultaneous changes-generative AI and accelerated computing. Since January this year, the market has seen "incredibly steep" demand, and the company is increasing production to meet that demand, with "incredible orders". It is said that Nvidia has prepared a series of product lines, including H100 chips, to meet the market demand for accelerated computing.

CTOnews.com previously reported that Nvidia was one of three stocks that rose in the Philadelphia semiconductor index on Tuesday (Aug. 15). Earlier, better-than-expected US retail sales data raised concerns that interest rates could remain high for a long time, causing unease in the stock market.

"as large amounts of capital and new financing instruments chase new AI software and professional cloud infrastructure models, Nvidia is actually playing the role of kingmaker," UBS analyst Timothy Arcuri wrote in a research note.