Executives at AI chipmaker Nvidia have heard shares in their company called the “most important stock on planet Earth.” On Wednesday, they released their latest earnings.
Revenue over the last year more than doubled to over 30 billion dollars. Net income beat expectations too, at over 16 billion dollars.
The executives have seen increasing demand for the chips that power their data centers. Their graphics processing units make artificial intelligence possible and have fueled the rush to their stock.
Founder and Chief Executive Officer Jensen Huang has watched his firm grow to more than 3 trillion dollars. He saw it become the world’s most valuable company, though Apple has regained that title.
Some analysts say the euphoria should suggest Nvidia has hit its peak. But many have been saying that for months, only for the stock to climb higher.