Nvidia Reports Record $96.2 Billion Revenue Amid Strong AI Demand
Nvidia reported a record quarterly revenue of $96.2 billion, more than double the previous year's figure and surpassing analyst estimates by nearly $4 billion. The company attributed this growth to surging demand for artificial intelligence infrastructure across global labs and startups. Despite an initial drop in stock price during regular trading hours, Nvidia shares rebounded sharply after hours, rising over 3.5% as investors reacted positively to the strong financial results. The chipmaker also announced $366 billion in multiyear AI infrastructure commitments, including supply agreements worth $279 billion and up to $108.5 billion in phased guarantees for future projects like the PORTS-Pike Technology Campus in Ohio. Nvidia's CEO Jensen Huang emphasized that AI has reached a critical inflection point with widespread adoption across industries.
Tickers: $NVDA
Topics: AI Infrastructure Earnings Stock Movement