Nvidia sales surge in the fourth quarter on demand for AI chips

Nvidia founder and CEO Jensen Huang speaks during a Nvidia news conference (AP/Abbie Parr)

Nvidia on Wednesday reported a surge in fourth-quarter profit and sales as demand for its specialised Blackwell chips, which power artificial intelligence (AI)  systems, continued to grow, sending the company’s stock higher after hours.

For the three months that ended January 26, the tech giant based in Santa Clara, California, posted revenue of 39.3 billion dollars (£31 billion), up 12% from the previous quarter and 78% from one year ago.