Nvidia Earnings Top Expectations as AI Demand Drives Record Revenue

Nvidia (NVDA) reported fiscal fourth-quarter earnings that exceeded analysts’ expectations, as demand for artificial intelligence powered sales to a fresh high.

The chipmaker posted record quarterly revenue of $39.33 billion, up 78% year-over-year and above the analyst consensus from Visible Alpha. Adjusted net income of $22.07 billion was up 72% from a year earlier and topped expectations.

Sales from Nvidia’s data center segment, representing the bulk of the chipmaker’s revenue,…