New York (CNN) — Nvidia posted strong revenue and profits that exceeded Wall Street’s expectations Wednesday. The closely watched result could prompt a sigh of relief across the stock market following growing concerns about an artificial intelligence bubble.

Nvidia’s sales grew 62% year-over-year to $57 billion in the October quarter, ahead of the $54.9 billion Wall Street had projected, signaling that demand for AI chips remains strong even as more questions emerge about whether returns from the technology will keep up with the pace of infrastructure investments. It posted profits of $31.9 billion, up 65% from the year-ago quarter and also slightly above expectations.

“Blackwell sales are off the charts, and cloud GPUs are sold out,” Nvidia CEO Jensen Huang said in a statement, a messa

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