The poster child for the artificial intelligence boom reported third-quarter earnings after the closing bell, and it did not disappoint.
Record sales and robust guidance drove Nvidia shares higher in after-hours trading for the AI bellwether, reassuring a market rattled by fears of an AI bubble.
“There has been a lot of talk about an AI bubble,” Nvidia CEO Jensen Huang told analysts on an earnings call. “From our vantage point, we see something very different."
Wall Street had anticipated another quarter of growth from Nvidia’s AI chip business. Nvidia surpassed those expectations, earning $1.30 per share on $57 billion in sales. Analysts expected earnings per share of $1.25 on $54.9 billion in sales.
Huang said Nvidia has seen "off the charts" demand for its Blackwell chips.
