Chip giant Nvidia has posted record annual revenues of $215.9bn (£159.1bn), defying investor concerns over the amount of spending on artificial intelligence (AI).
The world's most valuable publicly-traded company said the sales in the final three months of its financial year rose 73% year-on-year, beating analysts' predicitions.
Chief Executive officer Jensen Huang said computing demand was “growing exponentially” as customers "race to invest in AI compute".
Nvidia has become a key supplier of advanced chips used to train and run AI models, counting firms such as OpenAI and Meta among its customers.
With a market valuation of about $4.8trillion, the company has also unveiled new technologies in recent weeks aimed at driving further demand for its AI hardware.
FSTE100
The UK's flagship share index, the FTSE 100, was up 45-points at 10,805 shortly after opening this morning.
Brent crude oil futures were up 0.71% at $70.30 a barrel.
Companies reporting today
- CVS Group - Half Year Results
- Derwent London - Full Year Results
- Drax Group - Full Year Results
- Genus - Half Year Results
- Greencoat UK Wind - Full Year Results
- Hikma Pharmaceuticals - Full Year Results
- Howden Joinery Group - Full Year Results
- Jupiter Fund Management - Full Year Results
- LSEG - Full Year Results
- Man Group - Full Year Results
- Ocado - Full Year Results
- Pantheon International - Half Year Results
- PPHE Hotel Group - Full Year Results
- Rolls-Royce - Full Year Results
- Tate & Lyle - Q3 Trading Statement
- WPP - Full Year Results