NVDA: Nvidia Shatters Revenue Calls with Monster 265% Sales Growth, Stock Pops 13%

Chip darling said AI is now at a ‘tipping point’ and CEO Jensen Huang made a bold statement for this quarter: even bigger revenue growth is coming.

• It’s Nvidia’s stock market and we’re just living in it. The chipmaker smashed, squashed, and trounced Wall Street’s earnings and revenue predictions in its fourth-quarter update. Earnings per share arrived at $5.16, topping calls for $4.64. Revenue jumped a whopping 265% from a year ago to $22.1 billion, beating the $20.4 billion expected.
• But wait, it gets better. The company, now the third largest in the US, said that generative artificial intelligence (gen AI) has hit a ‘tipping point.’ Chief executive Jensen Huang went further to raise this quarter’s sales guidance to $24 billion, coming above expectations for $22.1 billion. All thanks to the inexhaustible spending spree on AI.
• Time to talk share price. The wait for that pullback is pushed back by yet another day. Nvidia’s stock NVDA blasted north by 13% in pre-market trading. With no peak in sight, the chipmaker-turned-moneymaker is looking to open Thursday trading at a fresh record high of more than $765 a share.