Nvidia adds jet fuel to AI optimism

AI mania: People passing by the Nvidia office in Taipei, Taiwan. Its forecast beat expectations by billions of dollars, demonstrating that a boom in generative AI technologies shows no signs of slowing down. — Bloomberg

SAN FRANCISCO: Nvidia far exceeds expectations with its quarterly revenue forecast as an artificial-intelligence (AI) boom fuels demand for its chips.

The company said it would buy back US$25bil in stock, sending its shares soaring after hours.