Nvidia rides big tech’s AI investment to beat Wall Street’s sky-high expectations

Chipmaker, third most valuable company in world, records $30.04bn in revenue, showing AI demand continues to rise

Chipmaker Nvidia reported its latest financial results on Wednesday, recording $30.04bn in revenue over the past three months – a 122% jump from the year prior – and showing that artificial intelligence investment mania shows no signs of cooling.

Analysts had anticipated about $28.7bn in revenue. Shares slid more than 3% in after-hours trading.