Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Nvidia’s revenues soared in the quarter to the end of January as demand for its AI-focused chips boomed, exceeding Wall Street expectations.
The company said its sales increased 78 per cent year-over-year to $39.3bn, above estimates in a Bloomberg survey of $38.3bn. Nvidia said it expected revenue of $43bn for the current quarter, plus or minus 2 per cent, roughly in line with Wall Street expectations of around $42.3bn.
“Demand for Blackwell is amazing as reasoning AI adds another scaling law — increasing compute for training makes models smarter and increasing compute for long thinking makes the answer smarter,” said Jensen Huang, the group’s chief executive, referring to the rollout of its latest generation of AI chips.
Net income was $22.1bn, compared to the $19.8bn expected by analysts
Nvidia shares were choppy in after-hours trading in New York, having risen almost 4 per cent during the regular session.
This is a developing story
Credit: Source link
