Revenue continues to surge, with a 122% increase on an annual basis during the quarter, following three straight periods of year-on-year growth in excess of 200%.
Subscribe today for free
The company’s net income rose to $16.6 billion in the quarter from $6.18 billion in the year prior.
Nvidia has been the major beneficiary of the ongoing AI boom and its market cap recently passed $3 trillion
Its stock has skyrocketed by 150% this year alone, with a 3,000% surge over the past five years.
Yet a fall of up to 6.8% was recorded in the aftermath of the results according to Reuters.
Fears over a design-led delay in the launch of the upcoming Nvidia Blackwell chips are reported to have contributed to the price wobble, though the shares have held up as the firm’s Hopper chips were seen as a stopgap solution.
Yesterday, Nvidia said it had shipped Blackwell pilot chips to customers and partners and is expected to ramp up sales of the chip at the end of the year.
RELATED STORIES
Nvidia expected to smash expectations in latest results
