Nvidia has formed a political action committee to make donations to federal candidates, marking a new step in its efforts to build lobbying and political influence in Washington. The PAC will be funded through voluntary, capped contributions from eligible employees rather than corporate treasury funds. The move comes as Congress and the Trump administration debate a national AI regulatory framework ahead of the midterm elections.
Nvidia's stock climbed in premarket trading Thursday following a quarterly earnings report that topped Wall Street forecasts and full-year guidance that exceeded even optimistic analyst projections. The rally comes alongside swirling speculation that Nvidia may be pursuing an acquisition of AI startup Hugging Face.
Nvidia shares jumped over 7% in premarket trading after strong revenue guidance calmed investor worries about slowing AI spending. CFO Colette Kress projected 70% revenue growth for fiscal 2028, while CEO Jensen Huang said actual demand exceeds that figure but supply constraints are limiting sales. The rally spread across the chip sector, lifting Micron, Marvell, Arm, Intel, AMD and cloud infrastructure firms Nebius and CoreWeave.
Nvidia is deploying massive financial resources, totaling roughly $279 billion, to secure priority access to manufacturing capacity and components needed for its AI chips. The strategy aims to keep Nvidia ahead of rivals by ensuring it never faces the supply shortages that have plagued the chip industry, though it carries real financial risk.
The Information reports, citing a source familiar with the matter, that Nvidia has agreed to purchase Hugging Face, the widely used open-source AI model hub, in a deal valuing the company above $13 billion. Business Insider says the agreement has not yet been finalized and could still fall apart, and neither Nvidia nor Hugging Face has commented on the reports.
Amazon and Nvidia expanded their partnership, with Amazon agreeing to add 2 million more Nvidia GPUs—including Blackwell Ultra, Rubin, and Rubin Ultra chips—to AWS data centers by 2027-2028. This comes just five months after a prior deal for over 1 million GPUs, with Nvidia citing demand that 'exceeded expectations.' The deal also extends to broader integration of Nvidia's networking hardware, models, CPUs, and robotics platforms into AWS infrastructure.
Nvidia reported second-quarter revenue of $96bn, over twice what it earned a year earlier, driven largely by its data centre business which brought in $89bn, up 117% year-on-year. The company forecasts $108bn in revenue next quarter, and shares rose about 4% in after-hours trading following results that beat Wall Street estimates.
Nvidia reported fiscal second-quarter net income of $59.69 billion, or $2.46 per share, for the May-July period, exceeding Wall Street forecasts. The results were driven by continued strong sales of the company's high-end AI chips, which remain central to the ongoing buildout of artificial intelligence infrastructure.
A public showcase event in Shanghai let visitors interact directly with humanoid robots, part of China's broader effort to promote and accelerate its robotics industry. Organizers say such events matter because hands-on exposure builds public familiarity, even as humanoid robot development globally remains slow and uneven.
GoKawiil