Nvidia crushes earnings expectations on AI chip demand [Video]

US chipmaking behemoth Nvidia said Wednesday it made a $19 billion profit on record high revenue last quarter as demand continued for its hardware to power artificial intelligence.

Nvidia reported quarterly sales of $35.1 billion, some $2 billion more than market expectations.

“The age of AI is in full steam, propelling a global shift to Nvidia computing,” said founder and chief executive Jensen Huang.

“AI is transforming every industry, company and country.”

Huang said that Nvidia’s keenly anticipated Blackwell processing platform is in full production and the company is seeing “incredible demand” for the new offering along with current-generation Hopper processors.

“Enterprises are adopting agentic AI to revolutionize workflows,” Huang said.

“Industrial robotics investments are surging with breakthroughs in physical AI, and countries have awakened to the importance of developing their national AI and infrastructure.”

Nvidia surpassed Apple early this month to become the highest valued company in the world as the artificial intelligence boom continues to excite …