Nvidia’s revenues soared in the quarter to the end of January as demand for its artificial intelligence-focused chips boomed.
The company said its sales increased 78 per cent year over year to $39.3bn, above estimates in a Bloomberg survey of $38.3bn. The group expects to post revenue of $43bn for the current quarter, plus or minus 2 per cent, roughly in line with Wall Street expectations.
Nvidia had been among the top performing stocks on Wall Street over the past two years, helping to pull the entire market higher, as investors have bet it would be one of the beneficiaries of the rapid growth of AI.
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