Nvidia reported $46.7 billion in quarterly revenue, a 56% year-over-year increase, and $26.4 billion in net income, up 59%. The company forecasted $54.0 billion, plus or minus 2%, for the current quarter and excluded H20 chip shipments to China; H20 chips are less powerful than top-tier products. Nvidia's market capitalization reached $4.4 trillion, making it the world's most valuable company. Jensen Huang's 3.5% ownership raised his net worth by $44 billion to $158 billion, placing him ninth globally. Nvidia's stock has surged 1,281% over five years after shifting focus from graphics to AI.
As CEO Jensen Huang led Nvidia Corp. ( NASDAQ: NVDA) to another record revenue quarter, his net worth has increased by $44 billion to $158 billion this year. That makes him the world's ninth richest person, ahead of Warren Buffett. The data is based on Bloomberg's measure of wealth. Nvidia turned in another monster performance. Its stock dipped slightly because its revenue forecast for the current quarter fell short of Wall Street's expectations.
Nvidia's revenue rose 56% in the most recent quarter, compared to the same one a year ago, to $46.7 billion. At that pace, its annual revenue will surpass that of GM, Ford, or Bank of America. With a market cap of $4.4 trillion, it is the most valuable company in the world. Net income for the quarter was $26.4 billion, up 59% year over year.
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