Nvidia's profit soars, underscoring its dominance in chips for artificial intelligence

SAN FRANCISCO — Nvidia on Wednesday overshot Wall Street estimates as its profit skyrocketed, bolstered by the chip-making dominance that has made the company an icon of the artificial intelligence boom.

The company reported earnings per share adjusted to exclude one-time items of $6.12, well above the $5.60 Wall Street analysts had expected, according to FactSet. It also announced a 10-for-1 stock split, a move that it noted will make its shares more accessible to employees and investors.Shares in Nvidia Corp. rose more than 4% in after-hours trading to $991.85. The stock has risen more than 200% in the past year.

The company now boasts the third highest market value on Wall Street, behind only Microsoft and Apple.

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