"Nvidia's AI-Fueled Earnings Surge Despite China Sales Slowdown"

Nvidia's shares surged over 12% in premarket trade after the company reported a remarkable fiscal fourth-quarter revenue of $22.10 billion, a 265% year-on-year increase, and a net income surge of 769%, driven by the growing excitement over artificial intelligence. The company's Data Center business, including its H100 graphics cards for AI training, saw sales of $18.4 billion, representing a 409% year-on-year growth. Nvidia's bullish revenue forecast for the current quarter, expected to hit $24 billion, led to broker upgrades and a positive market sentiment, dispelling earlier concerns and boosting other global chip stocks.