In its fourth fiscal quarter ending last month, Nvidia reported $39.3 billion in revenue, $0.89 adjusted earnings per share and $22.1 billion of net income, equating to year-over-year revenue growth of 78% and profit growth of 71%.

Nvidia forecast first-quarter revenue above market estimates on Wednesday, expecting robust demand for its leading AI chips to persist as businesses spend heavily to expand generative artificial intelligence infrastructure.

The company's forecast helps allay doubts around a slowdown in spending on its hardware. Revenue for the fourth quarter grew 78% to $39.3 billion, beating estimates.

The new Blackwell chip is off to a roaring start, while the hit to profit margins should be short-lived.

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