Nvidia (NVDA), the world’s largest listed company by market capitalization and a leader in artificial intelligence, announced its fourth-quarter results after the U.S. stock market closed on Wednesday, once again exceeding Wall Street expectations.
The chipmaker beat expectations, reporting revenue of $68.1 billion, up 73% year-over-year, as continued artificial intelligence-related capital spending spurred strong demand for its chips. The company also reported adjusted earnings of $1.62 per share, beating estimates. Wall Street analysts expect Nvidia to report revenue of about $66.1 billion and adjusted earnings per share of $1.54, according to FactSet data.
After the earnings report was released, the stock price rose nearly 3% in after-hours trading on Wednesday.
Investors are now focused on guidance. Nvidia expects first-quarter revenue of about $78 billion, higher than analysts’ expectations of $72.9 billion, setting the tone for the next phase of artificial intelligence-driven growth.
The chipmaking giant also said that data center revenue in the fourth quarter reached a record $62.3 billion, a 75% year-over-year increase and a 22% quarter-on-quarter increase, driven by “major platform shifts – accelerated computing and artificial intelligence.”
Based on the results and outlook, Bitcoin is still trading at intraday highs around $69,500 after rising 10% from Tuesday’s lows. Artificial intelligence-focused crypto tokens such as Bittensor (TAO) and Internet Computer (ICP) also added to gains.
Cryptocurrency miners, which are increasingly tied to artificial intelligence and high-performance computing infrastructure, also saw modest growth after Nvidia’s report. IREN (IREN), Cipher Digital (CIFR) and TeraWulf (WULF) were up 1%-2% in after-hours trading.
The company will host a conference call at 5 p.m. ET, and investors will be watching closely for further signals on the next phase of AI infrastructure development.
