United Kingdom, Feb. 26 -- Nvidia has reported record annual revenue of $215.9 billion.

The American chip giant has defied scepticism about the vast sums of money being spent on AI technology and surpassed analysts' forecasts as sales for the final three months of its financial year increased by 73 per cent compared to 12 months earlier.

Nvidia boss Jensen Huang said: "Computing demand is growing exponentially. Our customers are racing to invest in AI compute - the factories powering the AI industrial revolution and their future growth."

The firm is the world's most valuable publicly-traded company, with a stock market value of around $4.8 trillion.

It has become a key player in the buildout of AI infrastructure, providing sophisticat...