(Reuters) -Nvidia Corp on Wednesday forecast second-quarter revenue above Wall Street estimates, as the growing popularity of artificial intelligence drives demand for its chips used in powering the technology at big data centers.
Shares of the most valuable U.S. chip company jumped about 11% in trading after the bell. The artificial intelligence boom has helped Nvidia become the fifth most valuable U.S. company by market value.
Adjusted revenue for the quarter ended April 30 was $7.19 billion. Analysts polled by Refinitiv were expecting revenue of $6.52 billion
Net income rose to $2.04 billion, or 82 cents per share, from $1.62 billion, or 64 cents per share, a year earlier.
The company forecast current-quarter revenue of $11 billion, plus or minus 2%. Analysts polled by Refinitiv expect revenue to be $7.15 billion.
(Reporting by Chavi Mehta in Bengaluru)
