After the earnings report, NVIDIA's stock price target was revised.

"The next industrial revolution has begun", said Jensen Huang, CEO of the AI chipmaker based in Santa Clara, California, in a conference call with analysts during NVIDIA's earnings report.

"Companies and countries are partnering with NVIDIA to migrate the $1 trillion installation base of traditional data centers to high-performance computing and build new types of data centers called AI Factories to produce new commodities, artificial intelligence," he continued.

Huang, who co-founded the company in 1993, said, "AI will bring significant productivity improvements to almost every industry and help businesses increase revenue opportunities while enhancing cost and energy efficiency".

Nvidia's Earnings per share were $6.12and exceeded the consensus estimate of analystsConsensus estimate was $5.60Revenue was more than triple the previous year(262% increase) to $26.40 billion, easily surpassing the market expectation of $24.50 billion.Revenue from the company's major AI products, including datacenters, increased by more than five times compared to the previous year, reaching a record high of $22.60 billion, and the group's gross profit margin expanded to 78.9%.

"From today's information retrieval model, we are transitioning to a computing model that generates answers and skills," Mr. Huang said. "AI understands context and our intentions, possesses knowledge, makes inferences, plans, and executes tasks."

"We are transitioning to a computing model that generates answers and skills from today's information retrieval model," said Mr. Huang. "AI understands context and our intentions, possesses knowledge, makes inferences, plans, and executes tasks."

Nvidia stated that while the shipments of the new Blackwell system processors and software won't begin until the second half, the current quarter's revenue will increase by approximately 2% to around $28 billion.

However, Mr. Huang said, "Clients can easily transition from H100 to H200, and then to B100." He added, "The Blackwell system is designed to have backward compatibility."

"We are fundamentally changing the mechanics of computing and what computers can do," he said.

There are certainly skeptics who believe that the AI revolution is nothing more than mere hype, but finding such people on Wall Street is difficult.

Analysts have enthusiastically reacted to Nvidia's numbers, with one analyst asserting, "Because the group is a very unique growth tech, investors will continue to support the company's premium valuation multiple in the future."

Chris Versace from TheStreet Pro raised Nvidia's target stock price from $1,100 to $1,250 following the company's earnings report.

"Nvidia announced a 1-for-10 stock split on June 7 to improve its performance and outlook, and to increase the post-split dividends to $0.01 per share," Versace said.

"Looking at the dividend per share after the stock split, it may appear to be a fake dividend, but when viewed in terms of the total number of shares of Nvidia in the future, it will be returning 1 billion dollars annually to shareholders, compared to the 0.1 billion dollars before the stock split," the person added.

"Although it cannot be called a dividend stock, this move reflects the confidence in the company's business outlook beyond the early stages of AI adoption," said the person.

"Versace noted that the sharp increase in data center revenue reflects the shipment growth of Nvidia's Hopper GPU computing platform.""This platform is used for training and inference using large-scale language models, recommendation engines, and AI applications across the entire enterprise and consumer internet companies.""The person further added that the data center division, which accounts for about 87% of revenue, is clearly the driving force behind Nvidia's revenue and profit, and should continue to benefit from increased spending on AI and data centers by major tech companies."

"As generating AI is introduced to more consumer internet applications, I expect the demand for AI computing to increase," he said.

"The person further added that the data center division, which accounts for about 87% of revenue, is clearly the driving force behind Nvidia's revenue and profit, and should continue to benefit from increased spending on AI and data centers by major tech companies."

"As generating AI is introduced to more consumer internet applications, I expect the demand for AI computing to increase," he said.