Nvidia reports stratospheric growth as AI boom shows no sign of stopping

Nvidia reported record quarterly revenue Wednesday on the back of the explosion in corporate appetite for artificial intelligence. "The next industrial revolution has begun – companies and countries are partnering with Nvidia … to produce a new commodity: artificial intelligence," said Jensen Huang, founder and CEO of Nvidia. The company brought in 26bn in revenue in the first quarter of fiscal year 2025, up 18% from Q4 and up 262% from a year ago. Net profit was 14.88bn, up from 2bn a year before. The AI chip maker, whose fortunes are interpreted as a bellwether for the AI transformation under way, reported earnings per share were 5.98, up 21% from the previous quarter and up 629% from a year ago.