Nvidia's third-quarter financial results on Wednesday surpassed analyst expectations, signaling that demand for its artificial intelligence chips remains robust amid investor concerns about an AI bubble .

The chipmaker reported record revenue of $57 billion for the third quarter, up 22% from the previous quarter and up 62% from a year ago. Earnings per share were $1.30. The Santa Clara, Calif., company had been expected to earn $1.26 per share on revenue of $54.9 billion for the quarter, according to analysts polled by FactSet.

"Blackwell sales are off the charts, and cloud GPUs are sold out," Nvidia CEO Jensen Huang said in a statement on Wednesday, referring to the company's proprietary superchips that power large language models.

"Compute demand keeps accelerating and compound

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