Nvidia (NVDA) shares were sharply higher in extended trading on Wednesday after the company beat analysts’ estimates for revenue and posted record data c🤡enter sales.

The Santa Clara, California-based chip firm said first quarter revenue was 19% higher than in the previous quarter. Results also showed a 13% drop from the year-ago quarter, with analysts 澳洲幸运5官方开奖结果体彩网:expecting a larger drop of 21%. Earnings per diluted share were $1.09, down 20% from a year ago. Net income of $2.04 billion was up 26% year-over-year.

Management said that revenue in the second quarter would come in at $11 billion as CEO Jensen Huang said that the industry was going through “two simultaneous transitions” in accelerated computing and 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI).

“A trillion dollars of installed global data center infrastructure will transition from general-purpose to accelerated computing,” Huang said. He added that the c🔥ompany was increasing the supply of its data center products to meet “surging demand.”

Nvidia also announced yesterday that it was integrating its AI enterprise software into Microsoft’s Azure Machine to accelerate AI use cases for corporations.

Shares of Nvidia surged over 20% in extended trading af⛄teꦫr the earnings release, and were up more than 100% year-to-date.