Nvidia smashed expectations again, delivering blowout results that reinforce its role as the primary engine behind the AI boom—and sending ripples through crypto markets that depend on high-performance compute.
The chipmaker reported Q4 revenue of $68.1 billion, up 73% year-over-year, and adjusted EPS of $1.62—beating FactSet estimates of roughly $66.1 billion and $1.54, respectively. Shares jumped as much as 4% in after-hours trading before trimming gains.
The centerpiece was Data Center, where revenue hit a record $62.3 billion—up 75% from a year ago and 22% sequentially—driven by “major platform shifts” toward accelerated computing and AI. Nvidia also set a bullish tone for 2024, guiding Q1 revenue around $78 billion versus analyst expectations near $72.9 billion, signaling continued heavy spend from hyperscalers.
On the conference call Nvidia’s CFO Colette Kress stressed the scale of the shift: the company has “scaled our data center business by nearly 13x since the emergence of ChatGPT,” and said inventory and supply commitments extend into 2027 to meet ongoing demand. CEO Jensen Huang was equally emphatic: “AI is here. AI is not going to go back. AI is only going only get better from here,” underscoring long-term demand for compute.
Analysts see the numbers as proof the hyperscaler buildout is far from cooling. “The roughly 75% surge in data center revenue further reinforces that hyperscaler AI infrastructure deployment remains firmly in expansion mode,” said Thomas Monteiro of Investing.com.
Crypto markets reacted: bitcoin held near $69,000 after a 10% rally from Tuesday’s lows, and AI-focused tokens such as Bittensor (TAO) and Internet Computer (ICP) initially climbed on the news before trimming gains. Public crypto miners—firms increasingly tied to GPU and high-performance compute dynamics—also saw modest after-hours moves: IREN (IREN), Cipher Digital (CIFR), and TeraWulf (WULF) rose about 1%–2% before easing back.
Bottom line: Nvidia’s beat and especially its forward guidance cement expectations that AI-driven demand for GPUs and related infrastructure will remain strong for years—an outlook with direct implications for crypto sectors that rely on the same compute stack, from AI tokens to miners and infrastructure providers.
Read more AI-generated news on: undefined/news
