Nvidia Corp shares rose 10% on Thursday after Wall Street’s darling stock of the artificial intelligence revolution smashed forecasts - yet again.
The rally added some $233 billion in value to the chipmaking titan, bringing its valuation to a new all-time high of $2.56 trillion.
“The next industrial revolution has begun,” declared chief executive Jensen Huang, as his company delivered a 262% year-on-year revenue increase to $26 billion, safely beating prior estimates of $24.6 billion.
Nvidia’s cutting-edge computing hardware has been the engine powering this revolution, with the company’s sales showing no signs of slowing down.
“Companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center — AI factories — to produce a new commodity: artificial intelligence,” stated Huang.
Nvidia also announced a 150% dividend increase and a 10-1 stock split.
Article updated to reflect latest share price movements