Amidst heated speculation of an AI bubble, chip manufacturer Nvidia announced its third-quarter (July-September) results on Wednesday (November 20), beating industry expectations.

“There’s been a lot of talk about an AI bubble. From our vantage point, we see something very different,” CEO Jensen Huang said on a call with analysts. “We’re in every cloud. The reason why developers love us is because we’re literally everywhere,” he added.

The company recorded its highest-ever revenue of $57 billion, a growth of 62% over the previous year, with its data centre business alone recording $51.2 billion in revenue. It has also projected revenue for the fourth quarter at about $65 billion against industry expectations of $61 billion.

Nvidia’s shares gained 5% in extended trading on Wednesday

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