On November 20, NVIDIA (NVDA.O) unveiled its third-quarter earnings report. It disclosed that the growth rate of chip sales, which lie at the heart of the artificial intelligence (AI) boom, has outstripped Wall Street's projections. Additionally, the company issued a strong revenue forecast for the current quarter, further bolstering investor confidence in the sustained momentum of the AI investment craze.

The earnings report revealed that NVIDIA's revenue for the third quarter soared to $57 billion, marking a 62% year-on-year increase. Notably, its data center revenue surged to $51.2 billion, outpacing the anticipated $49 billion. Looking ahead, NVIDIA projects its fourth-quarter revenue to reach approximately $65 billion, substantially exceeding analysts' average estimate of $61.6 billion.

Following the release of these earnings figures, NVIDIA's after-hours stock price jumped by over 4%. NVIDIA CEO Huang Renxun highlighted that sales of the Blackwell chips are experiencing a remarkable surge, with all cloud GPUs already sold out. Previously, Huang had played down concerns about the potential for an AI bubble.