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Each week, Roula Khalaf, Editor of the Financial Times, handpicks her top stories just for you.
Nvidia experienced a significant surge in revenue for the quarter ending in January, as the demand for their AI-targeted chips skyrocketed, surpassing what Wall Street had forecasted.
The company announced a remarkable 78% increase in sales from the previous year, reaching $39.3 billion. This figure exceeded the $38.3 billion anticipated in a Bloomberg survey. For the current quarter, Nvidia projects revenue to hit approximately $43 billion, give or take 2%, aligning closely with Wall Street’s prediction of about $42.3 billion.
“The demand for Blackwell is astounding as reasoning AI introduces another scaling law—boosting compute power for training sharpens models, and enhancing compute for prolonged thinking refines answers,” explained Jensen Huang, Nvidia’s chief executive, highlighting the introduction of their latest AI chip technology.
Net income stood at $22.1 billion, outpacing analyst expectations of $19.8 billion.
Nvidia’s shares fluctuated in after-hours trading in New York, having climbed nearly 4% during the regular trading session.
Stay tuned for updates on this evolving story.
