(NEW YORK) — Chip giant Nvidia exceeded Wall Street expectations for revenue over a recent three-month period, the company said on Wednesday, rebuking fears of an AI bubble that have hammered markets in recent days.

The California-based company recorded $57 billion in sales over three months ending in October, which beat analyst expectations of $54.9 billion. The jump in revenue marked 62% growth compared to the same quarter a year earlier.

Analysts closely watched Nvidia as a bellwether for the stock market and the overall economy, which have both come to rely on massive spending on artificial intelligence to propel continued growth.

The latest test for the world’s most valuable company arrives at a fraught moment for markets, which have fallen for four consecutive days over fears of a

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