Nvidia (NVDA) reported an earnings beat as well as a strong fourth quarter outlook after the close of U.S. markets on Wednesday.
The chipmaker beat Wall Street’s expectations for the third quarter, reporting revenue of $57.01 billion — a 62% jump from a year earlier — as the AI investment boom continues to fuel demand for its chips.
“Blackwell sales are off the charts, and cloud GPUs are sold out,” said CEO Jensen Huang. “Compute demand keeps accelerating and compounding across training and inference — each growing exponentially.”
Shares of the company were higher by 4% in after hours trading at press time.
Data center revenue — arguably the biggest source of income for the firm — landed at $51.2 billion — slightly above analyst forecasts of $49.34 billion.
As for the all-important outlook, NVDA sees fourth quarter revenue of $63.7-$66.3 billion against Street estimates for just $62 billion.
The news for the moment has calmed particularly jittery crypto markets, sending bitcoin BTC$90,505.05 back above $90,000 after having nearly fallen through $88,000 earlier Wednesday. AI-focused crypto tokens like TAO$325.74, Near Protocol NEAR$2.2805, ICP$4.9083 and RNDR$2.0051 all rose 4%-5% following the report.
The results reinforce Nvidia’s position at the center of the artificial intelligence supply chain. Its GPUs are critical for training large language models, powering data centers, and running machine-learning workloads across big tech companies.
The firm will hold a conference call at 5pm E.T. as investors are looking for reassurance that the company’s massive bets on AI infrastructure, software tools and next-generation chips are translating into lasting revenue.