The AI-giant surged past all of them during its quarterly results announced in the early hours of Thursday, Indian time.
A 10-for-1 stock split, meaning division of one share into 10 has also been announced.
NVIDIA will also pay a quarterly dividend of 10 cents, a 150% boost.For the quarter, NVIDIA reported revenue of $26.04 billion, which is higher than the estimate of $24.65 billion.
Its Earnings per Share of $6.12 also surpassed the $5.59 estimate.NVIDIA's guidance for the current quarter also exceeded expectations.
As a result, NVIDIA's core data center business saw revenue grow by over 5x during the quarter to over $22 billion.
No estimates are enough for NVIDIA. The AI-giant surged past all of them during its quarterly results announced in the early hours of Thursday, Indian time. Shares surged past the $1,000 mark for the first time in extended trading. A 10-for-1 stock split, meaning division of one share into 10 has also been announced. NVIDIA will also pay a quarterly dividend of 10 cents, a 150% boost.For the quarter, NVIDIA reported revenue of $26.04 billion, which is higher than the estimate of $24.65 billion. Its Earnings per Share of $6.12 also surpassed the $5.59 estimate.NVIDIA's guidance for the current quarter also exceeded expectations. It guided for $28 billion in revenue for the quarter that will end in July, which is a 100% jump from the year-ago quarter and higher than the $26.8 billion projection of analysts compiled by Bloomberg.The results from NVIDIA prove that the AI boom is still in place. Demand remains robust, according to CEO Jensen Huang, who added that the next-generation AI chip, called Blackwell, will start contributing to the topline later this year and further fuel the already 100%+ growth.The emergence of Artificial Intelligence has lent a big boost to NVIDIA's business as megacap tech companies like Google, Microsoft, Meta, Amazon and OpenAI have been buying the company's Graphic Processing Units (GPUs) in billions to run their AI-powered applications. As a result, NVIDIA's core data center business saw revenue grow by over 5x during the quarter to over $22 billion. CFO Colette Kress attributed the surge to higher shipments of its Hopper graphic processor, which includes the H100 GPU.Large cloud-providers make up for over 40% of NVIDIA's data center revenue.Known for making hardware for 3D gaming before the AI-turnaround, NVIDIA's gaming revenue increased by 18% during the quarter to $2.65 billion, led by strong demand. Professional visualisation sales stood at $427 million, while automotive sales were $329 million during the quarter.CEO Huang said that the next "industrial revolution" has begun and that AI will bring significant productivity gains to nearly every industry and expand revenue opportunities. He now intends to move beyond cloud service providers, to what he called, "sovereign AI" or countries that are developing their own AI systems. These opportunities are “creating multiple multibillion-dollar vertical markets” beyond cloud service providers, he said.Shares ended 6.1% higher in extended trading at $1,007.7. At the current price, NVIDIA's market capitalisation stands well above $2.3 trillion.(With Inputs From Agencies.)
