# Nvidia Just Reported $96 Billion in a Quarter and Landed a 2 Million GPU Deal With Amazon
Just when it seems Nvidia (NVDA) cannot get any bigger, it does. The company behind the chips powering the AI boom has posted another record quarter, raised its guidance, and signed one of the largest GPU deals ever with Amazon. Here is what happened and what it means for investors.
How Big Was Nvidia's Latest Quarter?
For its second quarter of fiscal 2027 (ended July 26, 2026), Nvidia reported revenue of $96.2 billion, up 18% from the prior quarter and a staggering 106% from a year ago. To put that in perspective, Nvidia now generates more revenue in a single quarter than most of the largest companies in the world make in a year.
The engine remains its data center business, where demand for AI training and inference chips continues to outstrip supply. And management is not seeing a slowdown: Nvidia guided third-quarter revenue to about $108 billion, plus or minus 2%, and notably said that outlook assumes zero data center compute revenue from China, a sign of how strong demand is everywhere else.
The Amazon Deal: 2 Million GPUs
The headline partnership: Amazon Web Services agreed to buy 2 million Nvidia GPUs. As part of the arrangement, some of AWS's own Vera CPUs will be paired with Rubin, Nvidia's forthcoming next-generation AI chip, while others run standalone.
This matters for two reasons. First, it locks in enormous future demand from one of the biggest cloud providers on Earth. Second, it shows that even hyperscalers building their own custom silicon still depend heavily on Nvidia for the heavy lifting. Nvidia's investments across the AI ecosystem have also grown to roughly $99 billion, deepening its grip on the entire chain.
What Does This Mean for NVDA Stock?
At around $226 per share, Nvidia carries a market cap near $5.67 trillion, making it the most valuable company in the world, with a P/E of roughly 29. That valuation is high in absolute terms, but arguably reasonable given triple-digit revenue growth and expanding margins.
The bull case is simple: Nvidia sits at the center of the largest technology buildout in history, and every major cloud, model lab and government wants its chips. The bear case is equally clear: expectations are enormous, any hint of an AI spending slowdown could hit the stock hard, and the "zero China" assumption is both a strength and a reminder of geopolitical risk.
Want to see how Nvidia stacks up against other chipmakers on valuation and growth? Compare them with our Stock Screener.
The Bottom Line: Still the King, Still Priced Like It
Nvidia delivered another blowout quarter, raised guidance, and tied itself even closer to the biggest cloud on the planet. The numbers are historic and the demand is real.
Our take: A dominant business at a demanding price. Nvidia remains the single best pure-play on AI infrastructure, and its results justify a lot of the optimism. But at nearly $5.7 trillion, much of the good news is already in the price, so expect volatility on any disappointment. For long-term believers in AI, it stays a core holding; for newcomers, dollar-cost averaging beats chasing spikes. Key risk to watch: any sign that hyperscaler AI spending is peaking, which would hit Nvidia's growth story hardest.---
This article is for informational purposes only and is not financial advice. Always do your own research before investing.
