Nvidia more than triples revenue as AI becomes the 'new commodity'

PALO ALTO, California -- U.S. chipmaker Nvidia reported another blockbuster earnings quarter on Wednesday, announcing a 10-for-one forward stock split as surging AI demand pushed its share price up after markets closed.

"The next industrial revolution has begun," Jensen Huang, founder and CEO of Nvidia, said in a statement. "Companies and countries are partnering with Nvidia to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center -- AI factories -- to produce a new commodity: artificial intelligence."