Blockbuster Nvidia earnings beat Wall Street’s sky-high expectations

Chipmaker, third most valuable company in world, records $30.04bn in revenue, showing AI demand continues to rise

Chipmaker Nvidia reported its latest financial results on Wednesday, recording $30.04bn in revenue over the past three months – a 122% jump from the year prior – and showing that artificial intelligence investment mania shows no signs of cooling.

The importance of Nvidia’s earnings results to Wall Street can hardly be overestimated – the company represents 6% of the total value of the S&P 500, currently the third most valuable company in the world by market capitalization at $3.1tn.

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from The Guardian https://ift.tt/wKXGuyE

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