Nvidia doubles revenue, forecasts even more AI spending

San Francisco: AI juggernaut Nvidia on Wednesday reported quarterly revenue of $96.2 billion, more than double from a year earlier, as the world’s most valuable company beat Wall Street expectations and forecast even stronger sales ahead.

Shares leapt nearly five% in after-hours trading on Wall Street.

Nvidia is considered the bellwether for the AI spending frenzy, with its results largely determined by mega purchases from AI giants such as OpenAI, Amazon, Microsoft and xAI.