Nvidia ( NVDA ) reported an earnings beat as well as a strong outlook for the fourth quarter after the close of U.S. markets on Wednesday.
The chipmaker beat Wall Street expectations for the third quarter, reporting revenue of $57.01 billion — a 62% jump from a year earlier — as the AI investment boom continues to fuel demand for its chips.
“Blackwell sales are off the charts and cloud GPUs are sold out,” CEO Jensen Huang said. “Computational demand continues to accelerate and increase across training and inference—each growing exponentially.”
The company’s shares were higher by 4% in after-hours trading at press time.
Data center revenue — arguably the biggest source of revenue for the firm — came in at $51.2 billion — slightly above analysts’ forecasts of $49.34 billion.
As for the all-important outlook, NVDA sees fourth-quarter revenue of $63.7-$66.3 billion versus Street estimates of just $62 billion.
The news for the moment has calmed particularly jittery crypto markets by sending bitcoin back above $90,000 after nearly falling through $88,000 earlier Wednesday. AI-focused crypto-tokens like Near Protocol , and all rose 4%-5% after the report.
The results reinforce Nvidia’s position at the center of the artificial intelligence supply chain. Its GPUs are critical for training large language models, powering data centers and running machine learning workloads across large technology companies.
The company will hold a conference call at 5 p.m. ET, as investors look for assurances that the company’s massive investments in AI infrastructure, software tools and next-generation chips will translate into lasting earnings.
