In its fourth fiscal quarter ending last month, Nvidia reported $39.3 billion in revenue, $0.89 adjusted earnings per share and $22.1 billion of net income, equating to year-over-year revenue growth of 78% and profit growth of 71%.

Nvidia forecast first-quarter revenue above market estimates on Wednesday, expecting robust demand for its leading AI chips to persist as businesses spend heavily to expand generative artificial intelligence infrastructure.

Nvidia CFO Colette Kress said gross margins are expected to be in the "low 70s" as Blackwell production ramps up before improving later in the year.

U.S. stock indexes fell sharply as Wall Street's frenzy around artificial-intelligence technology faltered some more.

Key Takeaways Nvidia shares gave up early gains Thursday after the chipmaker reported earnings that topped Street estimates. Investors may have expected more from the AI darling.However, analysts said they're still bullish on the chipmaker's prospects,