Nvidia’s record $57B revenue and upbeat forecast quiets AI bubble talk
Nvidia founder and CEO Jensen Huang struck a bullish tone in the company’s third-quarter earnings. And based on the company’s results, there may be a reason to. Nvidia reported revenue of $57 billion during its fiscal third quarter, 62% higher compared to the same quarter last year. The company’s net income on a GAAP basis was $32 billion, 65% higher year-over-year. Both revenue and profit results beat Wall Street expectations. The revenue picture shows a company booming thanks largely to its data center business. Revenue generated by Nvidia’s data center business was a record $51.2 billion, up 25% from the previous quarter and up 66% from a year ago. Nvidia’s chief financial officer Colette Kress noted in a statement to shareholders its data center business has…
