Nvidia's Meteoric Rise: 513% Revenue Growth in Two Years

raquelgoulartra
Jul 30
2 min read

This article is published in collaboration with Statista

by Felix Richter

A little more than two years after Nvidia first revealed how much it expects to profit from the rise of generative AI back in March 2023, the company's unprecedented growth spurt continues. On May 28, the company reported results for the first quarter of its fiscal 2026 and once again it managed to meet or exceed Wall Street's lofty expectations.

In the three months ended April 27, 2025, Nvidia's revenue grew 69 percent from the same period a year earlier, reaching $44.1 billion compared to its own outlook of $43.0 billion plus/minus 2 percent and analyst expectations of $43.3 billion. Once again, Nvidia's data center business was at the heart of the company's blowout quarter, as it saw a 73-percent jump in revenue versus a year ago and accounted for almost 90 percent of total sales. Net income amounted to $18.8 billion in the quarter, which is more than four times the company's full-year profit for fiscal 2023, the last year without the impact of AI. For the current quarter, Nvidia expects revenue of $45 billion, which would be a 50-percent increase over the same quarter of last year, when the company's revenue had already surged to $30 billion. While some shareholders, spoiled by the past two years, may sniff at 50 percent growth, it's inevitable that growth rates come back to earth after a period of such extreme expansion. After all, Nvidia's revenue has grown more than sixfold over the past two years, meaning that it's virtually impossible to keep growing at the triple-digit rates seen in the early quarters of the company's revenue surge.

"Global demand for Nvidia’s AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate," founder and CEO Jensen Huang said in a statement. "Countries around the world are recognizing AI as essential infrastructure - just like electricity and the internet - and Nvidia stands at the center of this profound transformation," he added.

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