Nvidia Shares skyrocketed as the chip manufacturer reported huge earnings beats and provided sales guidance well exceeding Wall Street’s expectations. Before the results release Wednesday after the bell, the stock had already increased by 109% so far this year. The business is riding a chip demand tsunami that is being pushed by artificial intelligence. Revenue for the quarter increased by 14% for its data center division. This solid outcome, as noted by Kif Leswing of CNBC, demonstrates the growing significance of AI chips for cloud suppliers and other businesses that manage large numbers of servers.