SAN JOSE (California), Feb 26 (Bernama-dpa) -- Nvidia posted a 73 per cent surge in quarterly revenue, beating Wall Street expectations, as booming demand for artificial intelligence (AI) chips continued to drive growth, reported German Press Agency (dpa).
Revenue for the fourth quarter rose to US$68.1 billion from a year earlier, the chipmaker said on Wednesday, topping analyst forecasts. Sales were also up 20 per cent from the previous quarter.
Nvidia's chip systems have become a key technology for the development of artificial intelligence software.
They are used both to train AI models powering chatbots such as ChatGPT and to run such applications.
The company's results are widely viewed as a barometer for the health of the AI industry.
In recent months, stock markets have been rattled by recurring concerns that high expectations for future AI growth may have inflated a bubble in technology shares.
Nvidia pushed back against those doubts with a strong forecast for the current quarter.
The company expects revenue of US$78 billion, plus or minus two per cent, above analysts' average estimate of about US$73 billion.
Net income jumped 94 per cent year-on-year to nearly US$43 billion, while earnings per share also exceeded analysts' expectations.
Nvidia shares rose more than three per cent in after-hours trading.
--BERNAMA-dpa
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