Nvidia Earnings Stock Market: Revenue Skyrockets as AI Spending Goes Through the Roof
Nvidia is on fire right now! The chipmaker behind much of the AI tech powering today’s biggest tools (yes, including ChatGPT) just posted some massive numbers: $46.7 billion in revenue last quarter. That’s up 56% from the same time last year.
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Why the sudden jump? In short: AI is booming, and everyone wants in. Tech giants like Meta (the company behind Instagram) and OpenAI (yep, the ChatGPT people) are spending billions to build smarter, faster AI systems — and Nvidia’s high-powered chips are doing the heavy lifting.
“The AI race is now on,” said Nvidia CEO Jensen Huang. He says big tech spending on AI has doubled to a jaw-dropping $600 billion a year.
And while those numbers are wild, there’s more going on behind the scenes.
Despite the success, Nvidia’s stock actually dipped a bit after hours. Why? Geopolitical tension — mainly the ongoing trade tug-of-war between the U.S. and China. The Trump administration has been tightening rules around what tech can be shared internationally, especially when it comes to AI. That’s made things tricky for companies like Nvidia, which rely on global business.
Still, experts say Nvidia is in a league of its own when it comes to AI hardware.
“It’s really largely unchallenged in the market for AI chips,” said Colleen McHugh, Chief Investment Officer at Wealthify, in an interview with the BBC.
She also pointed out that the company’s fate is closely tied to how much the tech giants keep spending. So far, they’re not slowing down — which means Nvidia probably isn’t either.
We’ll keep you posted with all the latest, so stay with Newz24India.