Rising demand for chips is reflected in Nvidia's market valuation, which rose to $1.8 trillion, making it the third most valuable company on the U.S. stock exchange.
Nvidia's profit rose an impressive 770% to $12.3 billion from the same period a year earlier, again beating analysts' expectations. Earnings per share reached $4.93.
Analysts surveyed by FactSet had expected earnings of $4.59 per share on revenue of $20.4 billion. A year earlier, Nvidia's adjusted earnings were 88 cents per share on revenue of $6.05 billion.
Investors doubted the company could meet inflated expectations, leading the stock to fall sharply in recent trading sessions, sending Nvidia shares down about 10 percent.
However, Valor experienced a more than 8 percent gain in real estate trading on Wednesday after the results were released, which bodes well for a very strong finish to the week and possibly for the stock to set a new record high.
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