Nvidia data centre revenue more than doubled to $89B amid AI spending boom

Nvidia on Wednesday forecast a 70 per cent jump in revenue next fiscal year, underscoring unabated demand for AI computing, while warning that shortages of memory components would continue to curb how quickly it can expand. The chip company’s shares rose nearly eight per cent at the open of trading Thursday.“AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue,” Nvidia Chief Executive Jensen Huang said.The outlook is likely to reassure investors who have questioned how long the AI spending surge can last after years of explosive growth. By forecasting revenue growth well above Wall Street expectations and outlining demand from the biggest tech companies as well as AI labs, Nvidia is arguing that the market for AI computing is expanding rather than peaking, even as supply constraints limit how much business it can capture. Story continues below advertisement Related Videos 1:45 Nvidia CEO calls AI “largest infrastructure build-out in human history” Executives shared a road map for growth over the next few years, including a ramp in its next-generation Vera Rubin processors and expanding sales at AI labs such a...