27 August 2026
Nvidia reports $96 billion quarterly revenue, expects $108 billion next quarter
First reported
BBC News and CNBC ran this on , a day before the other 4 sources picked it up.
- Nvidia's data center division generated $89 billion in the second quarter, more than doubling year-over-year, as tech companies continue building AI infrastructure.
- The chip maker expects $108 billion in revenue for the third quarter, exceeding Wall Street forecasts and driving a 4.7% stock price increase.
- Major tech firms including Amazon, Meta, Google, and Microsoft rely on Nvidia chips for AI work, though some now develop custom semiconductors to reduce dependence.
- OpenAI unveiled its Jalapeño chip for AI inference tasks, matching Nvidia's performance on efficiency metrics, signaling potential competition in a growing market segment.
Where they differ
TLDR AIand the news outlets focused on Nvidia's earnings and revenue projections.
The Algorithmreported on an entirely different story, a $12.9-13 billion Nvidia acquisition of Hugging Face, that does not appear in the underlying reporting provided and cannot be verified as fact.
What each one reported
NVIDIA will exceed $100 billion in quarterly revenue, reaching $432 billion in annual revenue and becoming the sixth largest company globally. The newsletter notes the business appears healthier and more diversified than ever, though warns custom silicon from Big Tech could eventually slow demand.
Nvidia is buying Hugging Face, the popular open-source AI model repository, for $12.9 billion, marking a significant consolidation in the AI infrastructure landscape.
Nvidia agreed to buy Hugging Face, the central repository where AI developers share and deploy models, for $12.9 billion. The newsletter argues this consolidates Nvidia's dominance across both the hardware layer (chips) and software/community layer, raising concerns about whether Hugging Face's neutral open-source reputation can survive ownership by the company with the most to gain from picking winners in AI.
Nvidia agreed to buy open-source platform Hugging Face for $13 billion, giving the chip giant control of a major AI hub. The acquisition marks one of Nvidia's biggest deals and follows investments in the platform since 2023.