Nvidia: Chip large posts document gross sales as boss sees AI ‘tipping level’

Technology large Nvidia has posted document revenues because of booming demand for its synthetic intelligence (AI) chips and information centre enterprise.

The chip maker’s revenues for the newest quarter surged by 265% to $22bn (£17.4bn) from a 12 months earlier.

“Accelerated computing and generative AI have hit the tipping point,” the agency’s founder and chief govt Jensen Huang stated in a press release.

Nvidia’s shares jumped by greater than 8.5% in prolonged New York buying and selling.

The firm additionally stated that its annual revenues had greater than doubled to $60.9bn.

“Demand is surging worldwide across companies, industries and nations,” Mr Huang stated.

It got here as the corporate forecast a 233% bounce in its quarterly revenues for the present quarter, beating analysts’ estimates.

Nvidia’s inventory market worth has soared by 225% during the last 12 months, making it probably the most precious firms within the US.