Nvidia Crushes Expectations with Record-Breaking Quarter

Nvidia's quarterly revenue more than doubled to $96.22 billion from a year ago, driven by soaring demand for AI-related hardware.

The company's top boss, Jensen Huang, declared that AI had reached its 'inflection point,' meaning it has finally started doing useful work and generating profit.

Nvidia also provided Q3 revenue guidance of $108 billion, plus or minus 2%, which comfortably tops analysts' expectations.

Despite the solid results, Nvidia's shares slipped after hours, marking the fifth straight quarterly post-earnings decline.