NVIDIA reported second-quarter revenue of $96.2 billion, an 18% quarter-over-quarter and 106% year-over-year increase.
NVIDIA reported second-quarter revenue of $96.2 billion for the period ending July 26, 2026, representing an 18% increase from the previous quarter and a 106% year-over-year rise, surpassing consensus estimates of $92.2 billion. Both GAAP and non-GAAP gross margins stood at 75.0%, aligning with expectations and reflecting a 250 basis point year-over-year improvement. GAAP and non-GAAP earnings per diluted share were $2.46 and $2.22, respectively, with adjusted EPS exceeding estimates of $2.10 by 120% year-over-year.
Data center revenue accounted for $89.0 billion, up 117% year-over-year against an estimate of $85.8 billion. Edge computing revenue reached $7.2 billion, rising 13% sequentially and 27% year-over-year. For the third quarter, NVIDIA guided for revenue of $108.0 billion plus or minus 2%, ahead of the $104.2 billion estimate. Adjusted gross margin is projected at 74.0% plus or minus 50 basis points, with adjusted operating expenses expected to approximate $9.0 billion.
The company’s adjusted operating income totaled $64.0 billion, a 124% year-over-year increase, while adjusted operating expenses rose 54% to $8.2 billion. Adjusted net income came in at $54.0 billion, up 118% year-over-year. Free cash flow generated during the quarter was $21.3 billion. On the balance sheet, NVIDIA held $22.4 billion in cash and cash equivalents, alongside $1.0 billion in short-term debt and $32.4 billion in long-term debt.
NVIDIA announced that its Vera Rubin platform is ramping into full production, with racks already operational at partner facilities including CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure, and Nebius. The company also confirmed that Spectrum™-6 switch systems, which support both pluggable and co-packaged optics as part of the Vera Rubin architecture, are being deployed across global gigascale AI factories. Additionally, NVIDIA unveiled Vera, the first CPU specifically designed for AI agents, with broad adoption anticipated across leading technology providers. The Groq 3 LPX interactive AI inference accelerator has also entered full production.
To support large-scale AI infrastructure development, NVIDIA established strategic partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to create independent compute financing platforms. These initiatives aim to mobilize over $500 billion in third-party capital toward future AI infrastructure buildouts, subject to definitive agreements. In hardware deployment, SpaceXAI will integrate NVIDIA Vera CPUs to accelerate its next generation of agentic AI applications. NVIDIA also secured land, power, and shell capacity through a partnership with SB Energy at the PORTS-Pike Technology Campus in Ohio to host new compute operations. Furthermore, a multiyear technology agreement with SK hynix will advance next-generation memory solutions for the global AI factory expansion. Separately, NVIDIA partnered with Microsoft to redefine the Windows PC experience through NVIDIA RTX Spark™, a one-petaflop superchip featuring the complete CUDA™ and NVIDIA RTX™ ecosystem.
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