New Delhi, May 21 -- Nvidia, the world's most valuable company, on Wednesday reported strong quarterly earnings, blowing past Wall Street forecasts, boosted by robust demand for its high-end artificial intelligence (AI) chips.

The company's net profit jumped to $58.3 billion, or $2.39 per share, during the first quarter of fiscal 2027, ending April 26, more than tripling from $18.8 billion in the year-earlier period. Excluding one-time items, Nvidia earned $1.76 per share.

Nvidia posted record revenue of $81.62 billion during the first quarter, a surge of 85% from $44.01 billion, year-on-year (YoY).

Nvidia's results exceeded analyst estimates of $1.75 per share earnings and $78.91 billion revenue, according to a poll by FactSet, as the...