Nvidia stock rose over 8% in extended trading on Wednesday after the company reported slightly higher revenue and net income than Wall Street expected, despite a year-over-year decrease in both categories. Here's how the chipmaker did versus Refinitiv consensus expectations for the quarter ending January: Nvidia reported $0.57 in GAAP net income per share. Nvidia forecast $6.5 billion in sales in its first quarter, higher than the $6.33 billion expected by Wall Street. Although both revenue and earnings were down from last year's $1.32 per share and $7.64 billion in sales, Nvidia has increasingly been seen by investors as one of the chip stocks best positioned to endure an economic slowdown that hurts PC and semiconductor sales. Nvidia's data center business, which includes chips for AI, continued to grow, suggested that it could continue to benefit heavily from artificial intelligence software like ChatGPT and Microsoft Bing's AI chatbot.