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Artificial intelligence powerhouse Nvidia announced its highly-anticipated fourth-quarter earnings report on Wednesday which showed a massive jump in quarterly revenue from a year ago, reassuring investors that its AI edge is alive and well.
Nvidia’s revenue in the fourth quarter, which ended on Jan. 28, was up 265% from a year ago and 22% from the prior quarter and totaled $22.1 billion – beating analysts’ estimates of $20.6 billion. For fiscal year 2024, Nvidia’s revenue rose 126% to $60.9 billion.
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,” said Nvidia founder and CEO Jensen Huang.
Nvidia’s fourth quarter earnings beat Wall Street’s expectations thanks to the generative AI boom. (Photo by Ahmet Serdar Eser/Anadolu via Getty Images / Getty Images)
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