Nvidia reports $57.006 billion in quarterly revenue

BarcelonaThe US company Nvidia reported a net profit of $31.91 billion in the third quarter of its fiscal year, a 65% increase compared to the same period last year. The leading AI company released the results after the close of trading on Wednesday, reporting quarterly revenue of $57.006 billion, a 62% increase year-over-year. Data centers are its main driver of growth, contributing $51.215 billion. These results exceeded all expectations for this period of the fiscal year and, according to the company, allay fears of an AI bubble bursting.

Nvidia is the world's largest publicly traded company, with a market capitalization of $4.5 trillion. However, the chipmaker It reached a record figure of 5 trillion last month.However, in the last month, its shares have fallen by more than 11% due to growing fears among investors and analysts about a speculative bubble in the artificial intelligence sector. The latest bad news was the exit of Softbank, a Japanese technology investor, which sold off a stake in Nvidia's capital valued at around 5 billion euros.

Suspicions about a possible AI bubble have appeared with increasing frequency in financial media worldwide and among some analysts, who believe that the enormous revenue, profit, and investment prospects of companies in the sector are becoming less and less credible and that, by extension, the stock price is more or less inflated. For example, the shares of the ten largest companies in the sector already represent half of the entire value of the US stock market, and the US economy would not have grown this year were it not for the data center investments made by these multinationals.

In this context, the company's third-quarter results were especially anticipated in the markets, providing more information on the financial health of the leading company in the AI industry. In the second quarter, the company, led by Jensen Huang doubled the profits Compared to the same period last year, however, despite the good news, the share price fell, as it did not meet investor expectations, who were confident that growth would be even higher.