US chipmaking giant Nvidia said Wednesday it made a $19 billion profit on record revenue last quarter, as demand continued for its hardware to power artificial intelligence .
Nvidia reported quarterly revenue of $35.1 billion, about $2 billion above market expectations.
“The AI era is in full swing, propelling a global shift toward Nvidia computing,” said founder and CEO Jensen Huang.
“AI is transforming every industry, business and country.”
Huang said Nvidia’s highly anticipated Blackwell processing platform is in full production and the company is seeing “incredible demand” for the new offering as well as current-generation Hopper processors.
“Businesses are adopting agentic AI to revolutionize workflows,” Huang said.
“Investments in industrial robotics are increasing with breakthroughs in physical AI, and countries have realized the importance of developing their AI and national infrastructure.”
Nvidia overtook Apple earlier this month to become the world’s most valuable company as the artificial intelligence boom continues to excite Wall Street.
Following the release of its quarterly report, Nvidia’s stock price fell nearly 2% after hours, to $143.24.
Investors may have been concerned by the company’s statements that its margin, or the amount of money it makes from processors, is expected to decline.
“Despite Nvidia’s technology leadership through CUDA and its first-mover advantage in AI infrastructure, there is little room for execution missteps in 2025,” said Jacob Bourne, an analyst at Emarketer.
“Particularly given the uncertainties surrounding Blackwell’s deployment and increasing competition from AMD and major customers’ internal chip development efforts.”
The market will also likely factor in geopolitical factors, such as the risk of trade turmoil with China following Donald Trump’s return to the White House in January.
Nvidia relies on TSMC in Taiwan for its highly coveted graphics processing units.
The world’s largest technology companies have invested tens of billions of dollars in Nvidia’s powerful AI chips and software to operationalize their ChatGPT AI models.
Microsoft, Google, Meta, Tesla, and Amazon all rely on Nvidia technology to train generative AI models and run the heavy computing workloads needed to deploy new technology.
Before the latest results, Nvidia’s stock price had nearly tripled since the start of the year and accounted for a third of the broader S&P 500 index’s gains this year.
gc/des