San Francisco (United States) (AFP) - Nvidia shares climbed Wednesday after it beat quarterly earnings expectations on fierce demand for its sophisticated chips for powering artificial intelligence.

The California-based company reported profit of $31.9 billion on record-high quarterly revenue of $57 billion, sending shares up more than 3 percent.

“Blackwell sales are off the charts, and cloud GPUs are sold out,” Nvidia chief executive Jensen Huang said in an earnings release, referring to the latest model of its state-of-the-art hardware.