Chip giant exceeds sales expectations

Nvidia surpassed analysts’ sales expectations in its fourth-quarter earnings report, achieving $39.3 billion in sales, which is $1 billion more than anticipated. It forecasts first-quarter sales in 2025 to reach $43 billion, also slightly above expectations. The company, known for its graphic processors used in data centers for AI computations, experienced a more than doubled total sales in 2024 compared to the previous year, with a turnover of $130.5 billion. Profits for the fiscal year were $72.9 billion, a 145% increase. Demand for Nvidia’s new Blackwell AI chips is described as ‘astonishing’ by CEO Jensen Huang. The Blackwell chips accounted for $11 billion in sales in the first quarter. However, sales of gaming graphics cards fell by 11%, disappointing the company. Nvidia’s stock has risen 440% in the past two years, and it is the second most valuable company globally, behind Apple.