Nvidia rides big tech's AI investment to beat Wall Street's sky-high expectations

Chipmaker Nvidia reported its latest financial results on Wednesday, recording 30.04bn in revenue over the past three months – a 122% jump from the year prior – and showing that artificial intelligence investment mania shows no signs of cooling. Analysts had anticipated about 28.7bn in revenue. Shares slid more than 3% in after-hours trading. "The company continues to benefit from a market paradox: big tech's aggressive AI investment strategies drive massive demand for Nvidia's chips, even as these same companies invest in developing their own silicon," said Jacob Bourne, a technology analyst with Emarketer. Nvidia has told customers that its next-generation AI chips, code-named Blackwell, will be delayed several months from January, though early samples are shipping to a small group of customers now.