Chip maker Nvidia remains confident about the future of artificial intelligence after the world’s most valuable company reported a 59 per cent annual rise in its second-quarter profit for its 2026 fiscal year.
Profit was boosted by strong data centre revenue, although uncertainly remains about the company’s future business in China.
Net income in the three months to the end of July jumped to $26.42 billion, beating analyst expectations, the California-based industry bellwether said on Wednesday.
Revenue for the period climbed 56 per cent year on year to $46.73 billion, driven by demand for its accelerate computing programme used for large language models.
“The AI race is on, and Blackwell is the platform at its centre,” said Nvidia founder and chief executive Jensen Huang, referring to its AI infrastructure.
The chip maker expects revenue this quarter to be 54 per cent, plus or minus 2 per cent. However, it does not assume any H20 shipments to China in its outlook.
“We had a record quarter without China and we just guided a record quarter without China,” Mr Huang told Yahoo Finance.
“I see AI opportunities across all of the cloud, enterprise and industrial applications and robotics, and self driving cars and digital biology, and drug discovery. We just see AI deploying everywhere.”
He also said the company was keen to capitalise on the growth of the AI market in China.
“China has 50 per cent of the AI researchers in the world. They have lots and lots of AI companies and they have lots of AI chip companies. Without us there, they will obviously have their own alternatives – and they have been growing,” he said.
“If we have an opportunity to go compete for that market, it would be great for America, it would be great for China, and we have an opportunity to go capture some of that $50 billion market that is growing at about 50 per cent every year.”
While the US government is willing to take 15 per cent of Nvidia’s revenue, Chinese buyers are reluctant to purchase American chips, said Ipek Ozkardeskaya, senior analyst and Swissquote Bank.
“That doesn’t mean Nvidia will never sell to China again – on the contrary, CEO Jensen Huang said that selling Blackwell to China is a real possibility. But for now, the company has the luxury of ignoring that opportunity. And note: $54 billion in revenue without China would mean a 15 per cent jump in just one quarter. The numbers are gigantic.”
But the company’s data centre revenue, one of the company’s key segments, fell slightly under Wall Street estimates, rising 56 per cent to $41.1 billion.
Nvidia said $33.8 billion of its data centre sales were “compute”, or its GPU chips. The company said compute revenue fell 1 per cent from the first quarter due to a $4 billion reduction in H20 sales.
Nvidia shares fell during after-hours trading.
“The shift is that the company’s moved from hyper growth to high growth,” said Nigel Green, chief executive of global financial advisory giant deVere Group.
“This matters because markets have priced Nvidia as if its rate of expansion could continue indefinitely, and that level of outperformance was never sustainable.”
Nvidia rose to prominence amid the generative AI boom, significantly increasing its research and manufacturing to cater to players in the hotly contested industry serving applications.
In late June, Nvidia overtook Microsoft to become the world’s most valuable publicly traded company. Shortly afterwards, it became the first to hit a market capitalisation of $4 trillion, beating Microsoft and Apple, which had both been tipped to reach that milestone first.
The company, and the wider AI market, hit a snag last week after Sam Altman, the chief executive of ChatGPT maker OpenAI, reportedly said the AI market is in a bubble, causing Nvidia’s stock to drop 3.5 per cent.
But with its second-quarter results, and “as the world’s most valuable company with a large weighting in major indices, Nvidia’s results directly affect market direction”, Milad Azar, a market analyst at broker XTB Mena, told The National.
“Its financial disclosures are now seen not just as corporate updates but as important indications that can either support the ongoing AI-driven rally or prompt caution among investors.”
Nvidia is valued at about $4.3 trillion, data from CompaniesMarketCap shows. The company makes up about 8 per cent of the S&P 500 – a record for a US company. Its value is also bigger than the entire global cryptocurrency market, according to trading platform eToro.
The company also said it is continuing to increase its Blackwell architecture, which rose 17 per cent from the previous quarter, including its Blackwell Ultra architecture.
“Blackwell is the AI platform the world has been waiting for, delivering an exceptional generational leap. Production of Blackwell Ultra is ramping at full speed, and demand is extraordinary,” Mr Huang said.
“Investors are compelled not only by Nvidia’s incredible return on equity and free cash flow, but also by its ability to maintain an innovation edge in GPUs and data centres, ensuring it retains top spot in the space for some time,” Chris Weston, head of research at broker Pepperstone, told The National.
“Despite increased political challenges over the past 12 months, the investment case for Nvidia remains strong.”
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Some of Darwish’s last words
“They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope.” – Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
If%20you%20go
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
How Filipinos in the UAE invest
A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.
Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).
Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.
Company%20profile%20
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RIDE%20ON
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Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers’ scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
QUALIFYING RESULTS
1. Max Verstappen, Netherlands, Red Bull Racing Honda, 1 minute, 35.246 seconds.
2. Valtteri Bottas, Finland, Mercedes, 1:35.271.
3. Lewis Hamilton, Great Britain, Mercedes, 1:35.332.
4. Lando Norris, Great Britain, McLaren Renault, 1:35.497.
5. Alexander Albon, Thailand, Red Bull Racing Honda, 1:35.571.
6. Carlos Sainz Jr, Spain, McLaren Renault, 1:35.815.
7. Daniil Kvyat, Russia, Scuderia Toro Rosso Honda, 1:35.963.
8. Lance Stroll, Canada, Racing Point BWT Mercedes, 1:36.046.
9. Charles Leclerc, Monaco, Ferrari, 1:36.065.
10. Pierre Gasly, France, Scuderia Toro Rosso Honda, 1:36.242.
Eliminated after second session
11. Esteban Ocon, France, Renault, 1:36.359.
12. Daniel Ricciardo, Australia, Renault, 1:36.406.
13. Sebastian Vettel, Germany, Ferrari, 1:36.631.
14. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:38.248.
Eliminated after first session
15. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:37.075.
16. Kimi Raikkonen, Finland, Alfa Romeo Racing Ferrari, 1:37.555.
17. Kevin Magnussen, Denmark, Haas Ferrari, 1:37.863.
18. George Russell, Great Britain, Williams Mercedes, 1:38.045.
19. Pietro Fittipaldi, Brazil, Haas Ferrari, 1:38.173.
20. Nicholas Latifi, Canada, Williams Mercedes, 1:38.443.
Company%20Profile
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Brief scores:
Kashima Antlers 0
River Plate 4
Zuculini 24′, Martinez 73′, 90 2′, Borre 89′ (pen)
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Eyasses squad
Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)
Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)
Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)
Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)
Jemma Eley – goal attack / wing attack (Dubai College)
Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)
Molly Fuller – goal attack / wing attack (Dubai College)
Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)
Noorulain Hussain – goal defence / wing defence (Dubai College)
Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)
Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)
Eliza Petricola – wing attack / centre (Dubai English Speaking College)
Mohammed bin Zayed Majlis
The specs
Engine: 6.2-litre V8
Transmission: ten-speed
Power: 420bhp
Torque: 624Nm
Price: Dh325,125
On sale: Now
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
UAE currency: the story behind the money in your pockets
KILLING OF QASSEM SULEIMANI
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
COMPANY%20PROFILE
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Fixtures
50-over match
UAE v Lancashire, starts at 10am
Champion County match
MCC v Surrey, four-day match, starting on Sunday, March 24, play starts at 10am
Both matches are at ICC Academy, Dubai Sports City. Admission is free.
Killing of Qassem Suleimani
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
KILLING OF QASSEM SULEIMANI
Scoreline
Al Wasl 1 (Caio Canedo 90 1′)
Al Ain 2 (Ismail Ahmed 3′, Marcus Berg 50′)
Red cards: Ismail Ahmed (Al Ain) 77′
