KEY POINTS
  • Nvidia shares closed up 16% on Thursday, a day after the chip giant posted bumper earnings that beat Wall Street estimates, driven by excitement over artificial intelligence.
  • The company reported revenue of $22.10 billion for its fiscal fourth quarter, a rise of 265% year-on-year, while net income surged 769%.
  • Nvidia chips are used to train huge AI models such as those developed by Microsoft and Meta.

In this article

Jensen Huang, president of Nvidia, holding the Grace hopper superchip CPU used for generative AI at the Supermicro keynote presentation during Computex 2023.

Nvidia shares closed up 16% on Thursday, a day after the chip giant posted bumper earnings that beat Wall Street estimates.

The U.S. tech giant reported revenue of $22.10 billion for its fiscal fourth quarter, a rise of 265% year on year, while net income surged by 769%, as the company continues to see a boost from excitement over artificial intelligence.

In this article