Nvidia reports enormous revenue as AI hits a tipping point

The artificial intelligence boom is pushing demand for Nvidia's products past Wall Street's already lofty expectations. The chipmaker beat analyst expectations on Wednesday by leaps and bounds when it reported fourth-quarter earnings, posting 22.1bn in revenue on an expected 20.55bn and 4.93 in earnings per share against an expected 4.64. Revenue was 22% higher than the previous quarter, up 265% from a year ago. Nvidia's most closely watched earnings figure – revenue from data centers – was up more than 400% from the same period last year, reaching 18.4bn. Jensen Huang, founder and CEO of Nvidia, said in a press release, "Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations."