Nvidia has reported a 122% surge in quarterly revenue to $30 billion, driven by soaring demand for its AI chips in data centers.
The company's data center business, which includes its AI processors, saw revenue more than double to $26.3 billion, accounting for the bulk of total sales.
Record earnings
Net income for the quarter ended July 28 came in at $16.6 billion, up from $6.2 billion a year earlier. Adjusted earnings per share were 68 cents, beating analyst expectations of 64 cents.
Chief Executive Jensen Huang said the company was seeing "extraordinary growth" as AI adoption accelerates across industries.
Outlook
For the current quarter, Nvidia forecast revenue of $32.5 billion, above the $31.7 billion analysts had predicted.
The company also announced a $50 billion share buyback program, signaling confidence in its continued growth trajectory.
