's (NASDAQ: NVDA) fiscal second-quarter earnings report is out, and it appears the chipmaker is raking in massive sums of cash. Revenue for the period was $30 billion, up 122% year over year. Even more, earnings per share soared 168% to $0.67. Further, free cash flow for the quarter was about $13.5 billion, up from approximately $6.0 billion in the year-ago period.

"NVIDIA achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI," said NVIDIA founder and CEO Jensen Huang in the company's quarterly report.

All of this is great. But in the context of Nvidia's nearly $3 trillion market capitalization, it's not as impressive. Herein lies the problem with Nvidia stock: The valuation may simply be a bit ahead of itself. One telling way to further highlight this is by taking a look at the company's share repurchase program and viewing it next to its massive market cap.

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Source Fool.com