Nvidia's third-quarter financial results on Wednesday surpassed analyst expectations, signaling that demand for its artificial intelligence chips remains robust amid investor concerns about an AI bubble .

The chipmaker reported earnings of $31.9 billion on record revenue of $57 billion for the third quarter. Revenue for the period surged 22% from the previous quarter and 62% from a year ago. Its earnings per share were $1.30. The Santa Clara, Calif., company had been expected to earn $1.26 per share on revenue of $54.9 billion for the quarter, according to analysts polled by FactSet.

"Blackwell sales are off the charts, and cloud GPUs are sold out," Nvidia CEO Jensen Huang said in a statement on Wednesday, referring to the company's proprietary superchips that power large language

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