Nvidia released its quarterly earnings on Wednesday, with the chipmaker revealing higher than expected revenues and extending its years-long streak of surpassing Wall Street’s sky-high expectations.
The company receives the vast majority of its revenue from its datacenter business, which has been buoyed by the tech industry’s immense investment into AI infrastructure. On Wednesday, Nvidia reported 75% year-over-year growth of this vertical to $62.3bn. The world’s most valuable publicly traded company, Nvidia has dominated the chip market as its processing units have become the backbone of the artificial intelligence boom. The company also posted an enormous total profit for the fiscal year: $120bn.
