Due to the strong demand for AI processors, Nvidia saw a record profit of $12.3 billion in the fourth quarter, up 770% year over year. The company revealed its financial results this week.
This quarter, increases are predicted to pick up even more momentum, positioning Nvidia as one of the most valuable companies in human history.
Record Earnings
In the most recent quarter, Nvidia revealed record earnings of $22.1 billion, while the company's annual earnings also reached a record $60.9 billion.
The company credited global computing services acceleration and generative AI for the improvements.
Strong Outlook
The business now projects earnings for this quarter of $24 billion, surpassing $21.9 billion projected by the market.
Costs Rise
After-hours trading saw a 6% increase in the stock price, bringing its total return this year to 36%.
In today's session, it is anticipated that the stock will reach a new record high of $700.
