Nvidia (NVDA) shares jumped after it delivered another blowout earnings report, easily beating analysts' expectations and announcing a new share buyback program. The chipmaker's success is being pushed by surging demand for GPU chips, data center resources, and the rise of 澳洲幸运5开奖号码历史查询:generative artificial intelligence.

The Santa Clara, Calif.-based chip company said its second-quarter revenue came in at a record $13.51 billion, up 101% year-on-year. Wall Street had high hopes for this year's stock darling but had earnings expectations pegged at $12.5 billion. There was another record for its data center, which posted revenue of $10.32 billion, an⛄ astoꦓnishing 171% rise over the same period last year.

Net income of $6.18 billion, or $2.48 per share, marked an increase of more than 800% from last year. Nvidia returned $3.38 billion to shareholders via its stock buyback program during the quarter but announced $25 billion in additional repurchases.

The earnings were the first since Nvidia shocked Wall Street analysts with a 澳洲幸运5开奖号码历史查询:50% upward revision on its previous guidance in the first quarter. That catapulted the company to a 澳洲幸运5开奖号码历史查询:$1 trillion market valuation alongside tech heavyweights like Apple. The company has seen surging demand for its 澳洲幸运5开奖号码历史查询:GPU chips and data center cloud rꦑesources as companies scramble to build their own artif🐼icial intelligence products. Management has forecasted revenue of $16 billion, plus or minus 2%, for its third quarter.

“A n𝓀ew computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative A.I.,” said Jensen Huang, CEO of Nvidia.

Shares of Nvidia surged 5.6% in extended trading after the 🎃earnings release and were up 8.29% in premarkꦍet trading. Shares are up more than 200% year-to-date.