Nvidia has recorded a landmark increase in revenue in its second quarter results – a rise of 36 per cent year on year thanks to strong demand for its chips.

Nvidia said it has earned $172.7 million (£85 million) during the quarter – a figure that mean it had seen its profits almost double. Revenues also climbed during the quarter reaching $935.3 million (£462.6 million), up from $687.5 million (£340 million) in the previous year – an increase of 36 per cent.

It revealed that demand for laptop components grew a staggering 127 per cent while its desktop also grew 37 per cent. It also predicted that it would see an increase of between five and seven per cent on its third quarter – suggesting revenues of between $982 million (£485 million) and $1 billion (£495 million).