Nvidia's profit jumps 80% as company rides tech's AI boom
Nvidia lost $600 billion in market value in a single day last month, it was because some investors feared for the future of the artificial intelligence chipmaker. DeepSeek, a Chinese startup, said it had made its AI systems with a small fraction of the AI chips used by other companies, and at a small fraction of the cost.
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On Wednesday, Nvidia showed those fears were overblown, even as the breakneck pace of its growth slows. The company, a bellwether for AI, said purchases of its AI chips lifted its total revenue by 78% from a year earlier to $39.33 billion during the three months that ended in January. Profit rose 80% to $22.09 billion.
In previous quarters, Nvidia reported that sales and profits had more than doubled. But continuing to deliver those kinds of gains has become more difficult as its sales and profits rise. (For a business like Nvidia, it is common for the growth rate to slow after a period of extraordinary increases, a phenomenon known as the law of large numbers.)
Nvidia's quarterly results exceeded Wall Street analysts' expectations for $38.32 billion in sales and $21.08 billion in profit. The company projected that revenue in the current quarter would rise 65% from a year ago to $43 billion, a slowdown from the previous quarter but about $1 billion more than Wall Street had predicted.
Shares in Nvidia were almost flat in
