Nvidia revenues soared 265 per cent in the latest quarter to $22.1bn as the world’s most valuable chip company benefited from a spending frenzy on artificial intelligence.
The revenue performance beat analysts’ already heightened expectations of $20.4bn, boosted by a 409 per cent rise in data centre revenue to $18.4bn compared to the previous year.
“Accelerated computing and generative AI have hit the tipping point,” said Nvidia founder and chief executive Jensen Huang. “Demand is surging worldwide across companies, industries and nations.”
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