Shortly after Nvidia announced its latest results on Wednesday after the market closed, a collective sigh of relief swept through Wall Street. The chipmaker at the center of the AI transformation had once again exceeded expectations, delivering results that provided much-needed reassurance to nervous investors who feared that the AI hype cycle had passed its peak or, worse, that the AI bubble was about to burst.
There were few signs of a slowdown in Nvidia’s results. In fact, the company’s growth has accelerated and will gain even more momentum in the current quarter, according to Nvidia’s forecasts for the fourth quarter of its fiscal 2026. In the three months ended October 27, Nvidia’s revenue grew 62% compared to the same period last year, reaching $57 billion and surpassing both its own forecast of between $54 billion and $55 billion. as analysts’ expectations.
Once again, Nvidia’s data center business was at the heart of the company’s record quarter, with revenue up 66% year-over-year, accounting for just under 90% of total sales. Net profit soared to $31.9 billion in the quarter, more than seven times the profit for all of fiscal 2023, the last year without the impact of AI. For the current quarter, Nvidia forecasts revenue of $65 billion, which would put its growth rate at 65%, another increase from this quarter’s 62% growth.
In comments accompanying the earnings release, Nvidia CEO Jensen Huang did not temper his optimism, stating that demand for his company’s Blackwell chips was “off the charts.” “Computing demand continues to accelerate and multiply in both training and inference, each growing exponentially,” he said. «We have entered the virtuous circle of AI. The AI ecosystem is scaling rapidly, with more foundational model builders, more AI startups, in more industries and in more countries. “AI is reaching everywhere, doing everything, everything at once.”