Nvidia results - signaling an AI tailwind?

Q1'24 results were already a massive surprise.

But Q2'24 was yet another milestone.

It does look like a stock that can't go wrong.

So what do investors need to know about the latest earnings to make a better educated decision?

Revenue was up 101% YoY from USD 6.7 billion to USD 13.5 billion.

Even gross margin is up by 26.6 pts YoY, hitting 70.1% gross margin.

Diluted earnings per share grew 854% to USD 2.48 per share.

Nvidia is now more of a data center-centric company rather than a gaming company. Data center contributed to 76% of its total revenue, showing a YoY growth of 171%.

Even though Professional Visualization, OEM, and other are down, overall the data center growth single-handedly popped up Nvidia.

As we all know, Nvidia's chips in the data center industry are fueling AI growth and mania.

Nvidia's performance is truly spectacular. But we all know it only commands a small part of the entire semiconductor value chain.

Does this set of results bear an upcoming AI bull run?

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