Nvidia reports record profit and revenue during AI chip surge

Nvidia reported record profits and revenue, with a quarterly profit of $58.3 billion for February-April, a 37% increase from the previous quarter and over 200% year-over-year. Revenue rose to $81.6 billion, driven primarily by a 92% annual growth in its data-center business. Despite exceeding expectations, Nvidia shares fell nearly 1.3% in after-hours trading, reflecting high market expectations. The company announced an $80 billion share buyback and increased its quarterly dividend to $0.25 per share.

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