Technology giant Nvidia says its sales have hit a record after more than doubling as demand for its artificial intelligence (AI) chips soars.
The company says revenue jumped to above $13.5bn (£10.6bn) for the three months to the end of June.
Nvidia also expects sales to soar further in the current quarter and plans to buy back $25bn of its stock.
Nvidia also expects sales to soar further in the current quarter and plans to buy back $25bn of its stock.
Nvidia also said it expects revenue of around $16bn for the three months to the end of September.
That is much higher than Wall Street expectations and would equate to a rise of around 170%, compared to the same time last year.
“A new computing era has begun,” Nvidia’s chief executive, Jensen Huang, said in a statement.
“Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” he added.
The strong performance was driven by Nvidia’s data centre business, which includes AI chips.
Technology giant Nvidia says its sales have hit a record after more than doubling as demand for its artificial intelligence (AI) chips soars.
Nvidia also expects sales to soar further in the current quarter and plans to buy back $25bn of its stock.
The company says revenue jumped to above $13.5bn (£10.6bn) for the three months to the end of June.
Nvidia also said it expects revenue of around $16bn for the three months to the end of September.
Nvidia also expects sales to soar further in the current quarter and plans to buy back $25bn of its stock.
Nvidia also expects sales to soar further in the current quarter and plans to buy back $25bn of its stock.
Nvidia also said it expects revenue of around $16bn for the three months to the end of September.
That is much higher than Wall Street expectations and would equate to a rise of around 170%, compared to the same time last year.
“A new computing era has begun,” Nvidia’s chief executive, Jensen Huang, said in a statement.
“Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” he added.
The strong performance was driven by Nvidia’s data centre business, which includes AI chips.
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