Nvidia has announced record quarterly profit and revenue amid explosive demand for its advanced AI chips.The US tech behemoth said on Wednesday that profit soared to $58.3bn for the February-April period, up 37 percent from the previous quarter and more than 200 percent year-on-year.Recommended Stories list of 4 itemsend of listRevenue jumped to $81.6bn, up 20 percent from the prior quarter and 85 percent compared with the same period in 2025.Nvidia forecast revenue for the current quarter to hit $91bn, more than most analysts’ estimates.Nvidia’s data-centre business was the main driver of growth, with quarterly revenue surging 92 percent year-on-year to $75.2bn.The Santa Clara, California-based chip giant’s hardware unit racked up revenue of $6.4bn, up 29 percent from the previous year.In a sweetener for shareholders, the world’s most valuable company said it would buy back an additional $80bn in shares and raise its quarterly cash dividend from $0.01 a share to $0.25 per share.Nvidia CEO Jensen Huang hailed the “extraordinary” results as proof of the growing utility of AI.“Demand has gone parabolic,” Huang said in a conference call with investors and analysts.“The reason is simple. Agentic AI has arrived,” Huang said, referring to the advent of semi-autonomous AI models.“AI can now do productive and valuable work.”Despite once again blasting past analysts’ expectations, Nvidia’s latest results received a muted market response.Shares in Nvidia fell nearly 1.3 percent in after-hours trading, an indication of the sky-high expectations attached to a company whose blistering growth since 2022 has lifted its market capitalisation to more than $5 trillion. Advertisement Nvidia’s spectacular rise and the sky-high valuations of other tech giants, such as Micr …
