Yet that wasn't the only impressive part of the business. Gaming sales, Nvidia's second-largest segment, soared by 30% year over year. And professional visualization, which now includes sales of Nvidia's Spark, which the company calls the world's smallest AI supercomputer, rocketed 26.5% sequentially over Q2.

The daily timeframe chart shows that the NVIDIA stock price has been in a strong uptrend in the past few years. It recently crossed the important resistance level at $200, bringing its market capitalization to over $5 trillion.

Nvidia shares rose about 5% in off-hours trading following the AI chipmaker's earnings on Wednesday. + That would be well above the average price gain for the past eight quarters on the trading day after earnings,

Nvidia's Q3 earnings report states that all Nvidia AI cloud GPUs are sold out. In today's video, I discuss recent updates affecting Nvidia ( NVDA 1.06%) and other artificial intelligence stocks. To learn more, check out the short video, consider subscribing, and click the special offer link below.

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

Mizuho's Vijay Rakesh boosted his Nvidia price target to $245 from $235, with the new target 31% higher than current levels. Not only is Nvidia "the clear AI leader," but it's also growing quite quickly for its size.

Chipmakers including Nvidia and Intel are down along with much of the stock market Tuesday, as fears of an AI bubble grow.

Nvidia has soothed worries about AI demand for now, and dispelled fears of a bubble bursting. Investors piled into tech and AI names after its Q3 results.