New York —
Nvidia’s earnings Wednesday beat expectations and its revenue doubled from a year ago, but investors were left unimpressed.
The chipmaker has seen soaring revenue sitting at the head of the AI boom. The company earned $96.2 billion in the most recent quarter, a 106% rise from a year ago and better than analysts expected. Revenue from sales to data centers, an overwhelming chunk of its business, was $89 billion, an increase of 117% from a year ago.
However, Nvidia didn’t blow away estimates so shares dipped about 1% in after-hours trading.
Investors will be tuning into what CEO Jensen Huang has to say in the company’s earnings call this evening, especially as scrutiny rises over the AI industry’s circular financing. Nvidia is viewed as a bellwether for the state of the AI market because so much of the industry’s technology runs on its chips.
