Nvidia’s Data Center Revenue Hits Record High as Results Top Estimates [Video]

Nvidia (NVDA) reported third-quarter results that beat analysts’ estimates on the top and bottom lines, though shares fell slightly in extended trading Wednesday as investors may have had higher expectations.

The artificial intelligence (AI) chipmaker saw third-quarter revenue nearly double year-over-year to a record $35.08 billion, above the analyst consensus from Visible Alpha. Net income at $19.31 billion more than doubled from the year-ago period, also topping projections.

Nvidia’s revenue gains came as data center revenue, a key figure for Nvidia’s AI ambitions, more than doubled to a record $30.8 billion. 

The company forecast revenue of $37.5 billion for its fiscal fourth quarter, above the analyst consensus of $36.9 billion. 

“The age of AI is in full steam, propelling a global shift to NVIDIA computing,” CEO Jensen Huang said in a release, adding “demand for Hopper and anticipation for Blackwell—in full production—are incredible.”

Shares of Nvidia were 2% lower in extended trading …