Nvidia blew past Wall Street financial targets in its third quarter, posting a 62% surge in revenue and forecasting continued strong growth for the current quarter with demand for its AI chips showing no sign of slowing down.
“Blackwell sales are off the charts, and cloud GPUs are sold out,” CEO Jensen Huang said in a prepared statement.
Nvidia’s stock rose as much as 5% in after hours trading, after finishing the regular session up 3%.
Sales in the company’s datacenter unit, which accounts for the vast majority of Nvidia’s business, expanded 66% year-over-year to $51.2 billion, compared to the $49.7 billion expected by analysts. Overall revenue of $57 billion was above Nvidia’s own projections and topped the $55.5 billion expected by Wall Street.
Looking ahead, Nvidia projected fourth-quarter revenue between $63.7 billion and $66.3 billion, well above the $62.4 billion that analysts expected.
This story is developing…
