Businesses around the world are contemplating how artificial intelligence (AI) can help make their enterprises better and more efficient. Nvidia (NASDAQ: NVDA) wants to be the engine that powers the proliferation of the use of AI.

The semiconductor chip technology company just released its fiscal 2024 first-quarter earnings report for the period ended April 30, 2023, and it blew out its own most recent revenue guidance. The update showed that the data center and gaming segments are both back in solid growth mode for Nvidia. With the additional growth expected from its AI platform, Nvidia looks to be a stock to own even after a big run in 2023.

Nvidia reported revenue of $7.2 billion compared to the $6.5 billion guidance it provided for the quarterly period. That upside surprise was due to a boost in the data center segment from the "AI rush" as well as the second consecutive quarterly rise in gaming chip revenue.

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Source Fool.com