Nvidia is on a tear, and it doesn’t seem to have an expiration date.Nvidia makes the graphics processors, or GPUs, that are needed to build AI applications like ChatGPT. In particular, there’s extreme demand for its highest-end AI chip, the H100, among tech companies right now.Nvidia’s overall sales grew 171% on an annual basis to $13.51 billion in its second fiscal quarter, which ended July 30, the company announced Wednesday. Not only is it selling a bunch of AI chips, but they’re more profitable, too: The company’s gross margin expanded over 25 percentage points versus the same quarter last year to 71.2% — incredible for a physical product.Plus, Nvidia said that it sees demand remaining high through next year and said it has secured increase supply, enabling it to increase the number of chips it has on hand to sell in the coming months.The company’s stock rose more than 6% after hours on the news, adding to its remarkable gain of more than 200% this year so far.It’s clear from Wednesday’s report that Nvidia is profiting more from the AI boom than any other company.Nvidia reported an incredible $6.7 billion in net inco …
