Nvidia reported Q4 revenue of $39.33 billion, up 78% year over year and 12% higher than revenue generated in the previous quarter. This result topped the company's previous guidance of $37.5 billion. It also exceeded the average estimate of $38.05 billion among analysts surveyed by LSEG.

Gil Luria of DA Davidson highlighted increased competition from China and declining profit margins as concerns for Nvidia.

Nvidia reported its fourth-quarter results after Wednesday's closing bell. Investors and analysts have focused on early sales of the company's new Blackwell line.