What You Need To Know Ahead of Nvidia’s Earnings Report [Video]

Nvidia (NVDA) will report third-quarter results after the bell Wednesday, with the world’s most valuable company projected to report revenue growth driven by demand for artificial intelligence (AI) infrastructure.

Wall Street analysts expect the chipmaker’s revenue to grow 84% year-over-year to $33.28 billion and net income to jump to $17.45 billion or 70 cents per share, up from $9.24 billion or 37 cents per share a year earlier, according to Visible Alpha. Nvidia underwent a 10-for-1 stock split in June.

Nvidia’s data center revenue hit a record $26.3 billion in the second quarter, and analysts are calling for it to climb to a fresh high of $29.53 billion in the third quarter. In August, CEO Jensen Huang said, “global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI.”

Morgan Stanley raised its price target for Nvidia stock to $160 from $150 earlier this week and …