Nvidia today reported record revenue for the first quarter ended April 29, 2018, of $3.21 billion, up 66 percent from $1.94 billion a year earlier, and up 10 percent from $2.91 billion in the previous quarter.
The strong results are attributed to demand jumped for Nvidia's graphics chips used in data centers and gaming devices.
"We had a strong quarter with growth across every platform," said Jensen Huang, founder and chief executive officer of NVIDIA. "Our datacenter business achieved another record and gaming remained strong.
"At the heart of our opportunity is the incredible growth of computing demand of AI, just as traditional computing has slowed. The GPU computing approach we have pioneered is ideal for filling this vacuum. And our invention of the Tensor Core GPU has further enhanced our strong position to power the AI era," he said.
The chipmaker has diversified its revenue streams by turning to new growth areas such as data centers, artificial intelligence and self-driving cars, while also benefiting from robust sales in its biggest business of supplying graphics chips used in gaming.
Revenue from Nvidia's data center business, which powers cloud-based services such as Amazon Web Services, Microsoft Azure as well as Google's, rose 71 percent to $701 million.
Revenue from Nvidia's gaming chips, also used by cryptocurrency miners, rose 68 percent to $1.72 billion.
Revenue from Nvidia's automotive business, which includes its Drive platform used in self-driving cars, rose 4 percent to $145 million.
The company's net income rose to $1.24 billion, or $1.98 per share, in the first quarter ended April 29, from $507 million, or 79 cents per share, a year earlier.
Total revenue rose to $3.21 billion from $1.94 billion.