Nvidia delivers another quarter of stellar growth amid growing concern over AI economy

Artificial intelligence chipmaker Nvidia on Wednesday announced another quarter of astounding quarterly growth as investors try to decipher whether technology’s latest craze is overblown hyperbole or a springboard into a new era of prosperity and productivity. The results for the November-January period blew past the analyst projections that shape investors’ perceptions, as has been the case since Nvidia’s high-end chips emerged as AI’s best building blocks three years ago. Nvidia’s fiscal fourth-quarter revenue surged 73 percent from the previous year to $68.1 billion while its profit nearly doubled to roughly $43 billion, or $1.76 per share. “No quarter has had more riding on it than this one,” said Jake Behan, head of capital markets for the investment firm Direxion. “The AI trade needed some positive news and Nvidia’s earnings report brought plenty of it.” The Santa Clara, California, company also provided a forecast exceeding analyst projections while its CEO Jensen Huang reinforced the demand for the company's chips is still “skyrocketing." That description fe