Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.

U.S. stocks were sharply higher on Friday as traders boosted bets on an interest rate cut by the Federal Reserve next month following remarks from policymakers and as shares of Nvidia rose following a report that the U.

Nvidia’s Q3 revenue has jumped over 60% to US$57 billion, driven by soaring AI demand. The US chipmaker said strong sales, especially of its high-end Blackwell chips, reflect a rapidly growing global AI ecosystem.