Nvidia shares surge as US chipmaker hails AI ‘tipping point’

The shares jumped as much as 11 per cent in extended trading following the announcement of revenue for the current period of about $24 billion

Nvidia is the world’s most valuable chipmaker. Picture: Jakub Porzycki/NurPhoto via Getty Images

Nvidia, the artificial intelligence chipmaker, surged higher in late training in the US after the publication of an exceptionally strong set of results and its chief executive heralded an AI “tipping point” for the market.

The world’s most valuable chipmaker reported that revenue for the current period will be about $24 billion.

Analysts had predicted a revenue figure of $21.9 billion on average. Results in the fourth quarter also sailed past Wall Street estimates.

Jensen ...