In its fourth fiscal quarter ending last month, Nvidia reported $39.3 billion in revenue, $0.89 adjusted earnings per share and $22.1 billion of net income, equating to year-over-year revenue growth of 78% and profit growth of 71%.

LOS ANGELES (AP) — Nvidia on Wednesday reported a surge in fourth-quarter profit and sales as demand for its specialized Blackwell chips which power artificial intelligence systems continued to grow.

Nvidia shares jumped in early trading ahead of the AI-tech giant's highly anticipated fiscal-fourth-quarter earnings report, due after the close of trading. Nvidia (NVDA) is expected to post a bottom line of $25.

The report raised fears about the sustainability of AI infrastructure growth. That could mean less demand for Nvidia’s chips. TD Cowen’s Michael Elias said his team’s finding points to “a potential oversupply position” for Microsoft. Shares of Nvidia fell 4% on Friday.

Nvidia’s H20 chips are in high demand in China—indicating that DeepSeek's more efficient AI doesn’t mean lower chip demand.