Nvidia posts record profit and revenue amid AI chip boom

Chip giant announces $80bn stock buyback scheme and dividend hike in boon to shareholders.Nvidia has announced record quarterly profit and revenue amid explosive demand for its advanced AI chips.The US tech behemoth said on Wednesday that profit soared to $58.3bn for the February-April period, up 37 percent from the previous quarter and more than 200 percent year-on-year.Recommended Stories list of 4 itemslist 1 of 4Elon Musk’s SpaceX unveils filing for blockbuster IPOlist 2 of 4US police officers sue Trump over $1.8bn ‘anti-weaponisation’ fundlist 3 of 4Trump says no escalation expected with Cuba after Castro indictmentlist 4 of 4US lifts sanctions on Francesca Albanese, UN expert on Palestinian rightsend of listRevenue jumped to $81.6bn, up 20 percent from the prior quarter and 85 percent compared with the same period in 2025.Nvidia forecast revenue for the current quarter to hit $91bn, more than most analysts’ estimates.Nvidia’s data-centre business was the main driver of growth, with quarterly revenue surging 92 percent year-on-year to $75.2bn.The Santa Clara, California-based chip giant’s hardware unit racked up revenue of $6.4bn, up 29 percent from the previous year.In a sweetener for shareholders, the world’s most valuable company said it would buy back an additional $80bn in shares and raise its quarterly cash dividend from $0.01 a share to $0.25 per share.Nvidia CEO Jensen Huang hailed the “extraordinary” results as proof of the growing utility of AI.“Demand has gone parabolic,” Huang said in a conference call with investors and analysts.“The reason is simple. Agentic AI has arrived,” Huang said, referring to the advent of semi-autonomous AI models.“AI can now do productive and valuable work.”Despite once again blasting past analysts’ expectations, Nvidia’s latest results received a muted market response.Shares in Nvidia fell nearly 1.3 percent in after-hours trading, an indication of the sky-high expectations attached to a company whose blistering growth since 2022 has lifted its market capitalisation to more than $5 trillion.