Nvidia reported earnings surpassing analyst expectations, with EPS at $6.12 compared to $5.59 expected, and revenues at $26.04 billion versus $24.64 billion expected, showcasing significant growth.
Nvidia announced a 10-for-1 stock split effective June 7 to make shares more accessible, along with a 150% increase in the quarterly cash dividend, leading to a 5% jump in share price.
"Companies and countries are partnering with Nvidia to shift traditional data centers to accelerated computing, producing a new commodity: artificial intelligence," said Jensen Huang, Nvidia's CEO.
Data center revenues exceeded expectations at $22.6 billion, indicative of the strong AI industry growth. Nvidia's guidance for the upcoming quarter at $28 billion met investor expectations.
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