Nvidia Earnings Live: Chipmaker's Results Blow Past Wall Street Estimates as Customers 'Are Racing to Invest in AI'

The chipmaker at the center of the AI boom just released quarterly results that blew past Wall Street expectations.

Nvidia (NVDA), which delivered its highly anticipated earnings report after the closing bell Wednesday, also issued an outlook for the current quarter that handily topped analysts’ estimates, as CEO Jensen Huang said customers are “racing to invest in AI.”

Heading into the report, investors were hoping that better-than-anticipated results would breathe fresh life into a rally that has stalled recently amid AI-related concerns.

Market participants were paying close attention to what executives had to say during the post-earnings conference call about the outlook for the company and the broader AI infrastructure buildout that has boosted Nvidia’s business but raised questions about whether massive AI spending by the world’s largest tech companies will pay off.

Shares of Nvidia, the world’s most valuable company with a market capitalization of about $4.8 trillion, jumped nearly 4% in after-hours trading soon after the results were released but were only up 0.5% recently. Through Wednesday’s close, the stock had lost 7% since hitting an all-time high in late October, but was still up 55% over the past 12 months.

Read below our live coverage of the results, the conference call and the market reaction.