Nvidia’s Data Center Revenue Hits Record High as Results Top Estimates | Global News Avenue

NVIDIA (NVDA) reported third-quarter results that beat analysts’ top and bottom-line expectations, although shares fell slightly in after-hours trading on Wednesday as investors likely expected higher.

this Artificial Intelligence (AI) The chipmaker’s third-quarter revenue nearly doubled year-over-year to a record $35.08 billion, beating the average analyst estimate from Visible Alpha. Net profit was US$19.31 billion, more than double the same period last year and exceeding expectations.

Data center revenue hits record high

Nvidia’s revenue growth coincided with data center revenue, a key figure for Nvidia’s AI ambitions, more than doubling to a record $30.8 billion.

The company forecast fiscal fourth-quarter revenue of $37.5 billion, above analysts’ expectations of $36.9 billion.

“The era of artificial intelligence is in full swing, driving the global shift to NVIDIA computing.” CEO Huang said in a press release, adding that “the demand for Hopper and the anticipation for Blackwell – a full production – is incredible.”

Nvidia’s stock price fell 2% in after-hours trading on Wednesday after the earnings report was released. Their value has nearly tripled since the start of the year through Wednesday’s close.