Nvidia just wrapped a record quarter, with no sign of interest cooling for the GPUs that have become essential to powering the AI boom. Revenue for the company’s most recent quarter was a record $26 billion, up 262 percent year-over-year. Profit also hit a new high, up nearly sevenfold to $14.88 billion compared to the same period a year earlier. The performance drove the already buoyant stock price above $1,000 a share. Company founder and CEO Jensen Huang proclaimed, “the next industrial revolution has begun,” with Nvidia playing a pivotal role in transforming data centers into “AI factories.”

“Companies and countries are partnering with Nvidia to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center,” one that produces “a new commodity: artificial intelligence,” Huang said in the company’s earnings announcement, predicting “AI will bring significant productivity gains to nearly every industry and help companies be more cost- and energy-efficient.”

Nvidia tallied record quarterly data center revenue of $22.6 billion for its first quarter in fiscal 2025 (the three-month period ending April 28). That’s a 427 percent leap from a year ago.

“Nvidia’s chief financial officer, Colette Kress, said Wednesday that large cloud-computing companies such as Alphabet’s Google, Microsoft and Amazon accounted for somewhere around 45 percent of the company’s data-center revenue — more than $10 billion,” per The Wall Street Journal.

SiliconANGLE characterized the performance as “another earnings blowout,” writing that “the chipmaker has become synonymous with the artificial intelligence industry, with its stock seen as a yardstick to gauge the strength of that market.” The muscular results prompted Nvidia to declare a 10-for-one stock split effective June 7.

Nvidia will later this year release its next generation of GPU, dubbed Blackwell costing “more than $30,000 each,” according to WSJ. “The Blackwell platform is in full production and forms the foundation for trillion-parameter-scale generative AI,” Huang said.

WSJ predicts the move may prompt more surging sales “if the appetite for AI chips stays strong and Nvidia fends off challenges from competitors and regulators.”

The New York Times concurs it faces “growing competition and heightened expectations.” But Nvidia’s forecast points to further growth, and the company’s optimistic projections are managing to outperform analyst expectations.

Currently sitting in the number three global spot in terms market cap at $2.6 trillion, Nvidia trails Microsoft ($3.2 trillion) and Apple ($2.9 trillion), but is ahead of Alphabet ($2.2 trillion).

Fast Company writes that the increasing memory needs “of the ‘AI PC’ gives Nvidia its best shot ever at taking serious market share from the dominant CPU supplier,” Intel.