Nvidia reported strong third-quarter earnings, with revenues reaching $35.08 billion, a 94% increase from the previous year, surpassing the market forecast of $33.16 billion, and a net profit of $19.31 billion, more than double last year’s figure, AP News reports.
Nvidia’s data center revenue was particularly strong, growing 112% to $30.8 billion, fueled by the demand for its Hopper platform used generative AI applications. Nvidia’s gaming revenue also increased by 15%, totaling $3.3 billion. The company also announced plans for its next-gen Blackwell AI chips, which are expected to face supply constraints due to high demand. The company forecasted about $37.5 billion in sales for the next quarter.
Nvidia’s dominant position in the AI sector has made it one of the most valuable companies, now valued at over $3.5 trillion, with expectations it could reach $4 trillion by 2025. Despite exceeding Wall Street expectations, Nvidia’s stock, which has risen 195% this year, dropped 1% in after-hours trading.
