Nvidia smashed Q1 forecasts as data centres drive AI chip boom

(Sharecast News) - Computer chip giant Nvidia smashed first-quarter earnings and revenue expectations powered by continuing demand from artificial intelligence data centres.

Revenue came in at $81.62bn for the three months to April 30, up 85% and beating expectations of $78.86bn. Earnings also exceeded Wall Street forecasts of $1.76 per share with a reported figure of $1.87 per share. Data centre revenue grew 92% to a record $75.2bn.

Nvidia forecast $91bn in sales for the current quarter, well above average expectations of $86bn.

Reporting by Frank Prenesti for Sharecast.com