SANTA CLARA, Calif. — Nvidia earnings easily beat Wall Street forecasts late Wednesday as the AI chip giant reported record quarterly revenue and profit that helped ease fears of an overheated artificial-intelligence trade. Fueled by surging demand for data-centre processors, the results triggered a global relief rally in tech shares and helped ease investor fears that the AI build-out has further to fall, Nov. 20, 2025.
Nvidia had third-quarter revenue of $57 billion, up 22 per cent from the previous quarter and 62 per cent from a year ago, with net income of about $32 billion, up around 65 per cent. The data-centre sales increased to a record $51.2 billion, the company said. Other Highlights: Earnings of $1.30 per share exceeded analyst estimates. Entry-level prices for artificial-intelligence processor chips will be less than half those of Nvidia Corp.
For its current quarter, Nvidia projected revenue of roughly $65 billion, plus or minus 2 per cent, compared with analysts’ near $62 billion forecast. Executives told investors they expect about $500 billion in AI-chip orders through 2026, driven by what CEO Jensen Huang called “off-the-charts” demand for its Blackwell data-centre accelerators.
Huang also called out investors’ fears of an AI bubble during the earnings call. “There’s been a lot of discussion about an AI bubble,” he added. “From our seat, we see a very different picture,” asserting that demand for training and inference workloads is accelerating across cloud, enterprise and sovereign customers.
The data-centre unit, now the centre of Nvidia’s earnings, contributed more than 90% of sales after Blackwell GPU shipments picked up and certain cloud-focused configurations effectively sold out, according to company commentary and industry reports. Gaming, professional visualisation, and automotive continued to be relatively small but profitable businesses.
Gaming, professional visualisation, and automotive were much smaller contributors by comparison, though gaming revenue continued to recover from its post-crypto slump. Management re-emphasised that AI infrastructure builds — from hyperscale cloud providers to national “AI factory” projects — are the core growth engine at this point, not cyclical demand for PCs or consoles.
In New York, shares of Nvidia jumped more than 4% in after-hours trading, helping lift the Nasdaq and the S&P 500 after four straight days of tech names. Relief was felt abroad, where shares in Asia and Europe — especially those of chipmakers and cloud-service providers — surged on a more positive outlook for A.I. spending.
Japan’s Nikkei shot up over 3 per cent, retaking the 50,000 level, and tech-heavy markets in South Korea and Taiwan followed as well. European benchmarks, including the STOXX 600 technology index and Dutch equipment maker ASML, gained as investors deemed that Nvidia’s earnings had, at least for now, helped defuse the worst fears about AI valuation.
The scale of this quarter would have seemed unimaginable just two years ago. Then there was the 2021 Reuters earnings story, which noted how “crap” websites are making money off of garbage news stories in today’s age of AI-generated content, and a call-back to this 2019 article that took stock of all the job-killing robots ushered into during Five-Year Rise™ Back in 2023: A 2023 Reutersearningsstory looked at how Nvidia’s $11 billion revenue guidance had helped crystalize the generative-AI “gold rush,” while a 2024 take on Nvidiashowed company earnings blowing up across the board, already reshaping the chipmaker’s balance sheet.
But Nvidia earnings have always swung with technology fads. VIRUSES AND CYBERBOTS During the last crypto boom, an analysis in 2018 of the knock-on impact of cryptocurrency busts warned that surging results could easily be turned on their head, and a 2024 article pointed to crypto’s drag on gaming revenue, where it leaned more heavily on data centres as gaming cooled.
Those earlier episodes lend today’s trajectory a more dramatic cast. The company’s fiscal 2025 second-quarter results from its April 2022 quarterly filing showed it made $30 billion in revenue and $26.3 billion in data-centre sales; little over a year later, both figures have almost doubled again amid surging demand for AI infrastructure.
Analysts remain sceptical that an AI build-out of this size doesn’t carry risks, from bottlenecks at power and data centres to political scrutiny of capital spending. Some warn that while “the same Nvidia we heard from last week helping to calm everyone down” about a tech-collapse bubble may prevent one now, “one day it will fuel the downturn instead.”
For now, at least, the message from markets is clear: Nvidia’s latest quarter has bought AI trade more time. With record revenue, aggressive guidance, and an order book that continues to grow, Nvidia earnings are once again the arbiter of global risk appetite — and a reminder to investors everywhere that this AI thing is still developing.
