World-leading chip maker Nvidia recorded revenue of $57 billion in the last quarter of October, up 62% year-on-year and well above analysts' forecast of $24.9 billion.
Profit reached 31.9 billion USD, up 65%, also better than the initial estimate. Immediately after the report, Nvidia shares increased by more than 6.5% in the after-hours trading session.
CEO Jensen Huang emphasized: Blackwell sales are exceeding expectations and cloud GPUs are out of stock.
In a call to investors, he frankly denied concerns about AI bubbles: We see a completely different picture.
The boom in revenue from the Blackwell AI processor, the chip line that is the foundation for global data centers, shows that Nvidia is still the focus of the AI race.
The company's valuation has now reached about 5 trillion USD, making Nvidia the world's most valuable public enterprise.
However, in parallel with the hot increase, the market also witnessed many bubble-like signals.
The fact that large companies in Silicon Valley cross-invest in AI such as deals pouring $100 billion into OpenAI in exchange for chip purchase commitments raises doubts about the self-inflated investment loop.
Analysts warn that if a technology giant encounters fluctuations, a chain reaction could cause the market to evaporate billions of USD.
At the same time, there are still big questions about whether AI can create real value for the economy, or just a wave of speculation.
However, this report shows that the market may have overreacted. Many investors believe that Nvidia has not yet reached its peak growth, especially as technology giants such as Meta, Microsoft and Google continue to increase spending on AI infrastructure.
Alphabet CEO Sundar Pichai himself admitted to BBC that AI is prone to making mistakes and the technology industry is not immune to bubble risks, including Google.
The company has just launched Gemini 3, the latest AI model integrated into a series of products, including the search engine.
Despite the controversy, Nvidia's revenue report shows that at least for now, AI is still a real growth driver, not a bubble waiting to burst.
