
Nvidia Corporation's fourth-quarter earnings report has significantly exceeded Wall Street expectations, driven by the booming demand for AI technology. The company reported earnings per share (EPS) of $5.16, surpassing the expected $4.63, and revenue of $22.1 billion, beating the forecast of $20.5 billion, with revenue expected to jump 234%. This performance is attributed to Nvidia's data center business, which saw a dramatic increase to $18.4 billion in sales, up over 400% from the previous year. Following the announcement, Nvidia's stock experienced volatile trading but ultimately surged more than 7% after markets closed, with stock jumps 8% after guidance. This earnings report is considered a crucial indicator of the AI sector's potential, with Nvidia at the forefront of this technological revolution.
Sources
SiliconANGLENvidia’s data center GPU sales grow by a stunning 409% on huge demand for AI chips https://t.co/VkGwFEGGeS
Bronagh HanleyNvidia declares AI ‘tipping point’ as quarterly revenues jump 265% https://t.co/mHkIlcP3gx via @ft
unusual_whalesNvidia's, $NVDA, Data Center business is booming, up over 400% since last year to $18.4 billion in fourth-quarter sales, per CNBC.
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