Nvidia Revenue Jumps 122% in Positive Sign for Tech's A.I. Boom

This summer, the cost-effectiveness of generative artificial intelligence has raised concerns among Wall Street and Silicon Valley. Despite these doubts, chipmaker Nvidia has demonstrated the continued high demand for AI. In the latest quarter, Nvidia’s sales and profit more than doubled, exceeding Wall Street’s expectations. The company also projected an 80% increase in sales for the current quarter compared to last year. However, the stock saw a 4% decline in after-hours trading as some investors had expected even higher projected revenue for the current quarter.