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.
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