Artificial intelligence chip giant Nvidia sees sales more than double - BBC News
The California-based company dominates the market for chips used in artificial intelligence systems.
8 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, Nvidia chief executive Jensen HuangBy Mariko OiBusiness reporterTechnology giant Nvidia says its sales have hit a record after more than doubling as demand for its artificial intelligence (AI) chips soars.
The company says revenue jumped to above $13.5bn (£10.6bn) for the three months to the end of June.
Nvidia also expects sales to soar further in the current quarter and plans to buy back $25bn of its stock.
The firm's shares rose by more than 6.5% in extended trading in New York, adding to their huge gains this year.
Nvidia also said it expects revenue of around $16bn for the three months to the end of September.
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