Nvidia sales were up 94 percent to $35 billion in the most recent quarter when profits more than doubled, to $19.3 billion, telegraphing the strength of the artificial intelligence boom that took the company from the top supplier of graphics boards for gaming PCs to the world’s most valuable public company with a market cap of $3.59 trillion. Nvidia founder and CEO Jensen Huang told analysts that demand for the company’s latest AI chip, Blackwell, has been “incredible,” driving projections of $3.59 trillion in revenue for the current quarter as customers begin to take shipments. Continue reading AI Boom Boosts Nvidia Sales by 94 Percent as Profits Double

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.” Continue reading Nvidia Reports Record Revenue, Profits as AI Demand Surges

Nvidia announced $7.19 billion in revenue for the first quarter ended April 30. That’s down 13 percent compared to the February through April frame in 2022, but up 19 percent from Q4, which ended January 29. Nvidia has forecast a stunning $11 billion in sales for Q2. That projected 64 percent increase puts Nvidia on track to be the first chip company with a $1 trillion valuation. CEO Jensen Huang attributes the sales spike to exploding demand for GPUs to run artificial intelligence systems. “We are significantly increasing our supply to meet surging demand for them,” Huang said of the processors. Continue reading AI Helps Steer Nvidia Toward $1 Trillion Market Capitalization