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Juggernaut confirmed

Nvidia

Nvidia’s Performance Topping Expectations. Revenue in the 1st quarter, turned in on February 21st, is up 265% from a year earlier. The maker of computer chips that are now fundamental in the development of generative A.I. appears to be living up to analysts’ forecasts. That, in turn, confirms the boom in artificial intelligence is a lasting one.

Nvidia
Artificial inteligence chip maker Nvidia headquarters

Nvidia CEO Jensen Huang said in a statement that the new earnings are evidence that “accelerated computing and generative AI have hit the tipping point.” Wedbush’s Dan Ives insists the “AI revolution is here.”

“Long term: The story is intact,” veteran technology analyst Gene Munster wrote in a post on X. “The business is powering along despite the headwind from China restrictions. The reason is we are still early in the first wave of the AI infrastructure wave, selling to hyper-scalers and AI startups.”

Nvidia’s adjusted earnings per share rose 765% from the year prior to $5.15 per share, versus a consensus forecast for $4.64. And gross margins, a key profitability metric, continued to rise amid the AI boom, hitting 76.7% in the quarter. The chipmaker’s cofounder wrote that “demand is surging worldwide across companies, industries, and nations,” adding that the “year ahead will bring major new product cycles with exceptional innovations to help propel our industry forward.”

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