Nvidia CFO Colette Kress said gross margins are expected to be in the "low 70s" as Blackwell production ramps up before improving later in the year.

Superstar stock Nvidia is helping to prop up the U.S. market on Thursday, and indexes are rising after a rough run. The S&P 500 was up 0.5% in early trading, coming off a painful stretch where weaker-than-expected reports on the U.

Nvidia (NVDA) stock rose nearly 4% on Wednesday ahead of the release of the AI chip giant’s hotly anticipated fourth-quarter earnings report after the closing bell. Nvidia holds the record for both the largest one-day increase and decrease in market value,

The poster child of Wall Street's artificial intelligence craze reported better-than-expected results amid rising investor uncertainty about the the economics of AI.

NVDA stock rose after hours as Nvidia's earnings results beat estimates. Blackwell chips brought in $11 billion for Nvidia, who said demand is strong.

NVIDIA CEO Jensen Huang speaks during a press Q&A during NVIDIA GTC in San Jose, California on March 19. Image: Megan Crouse/TechRepublic eWEEK content and product recommendations are editorially independent.

In its fourth fiscal quarter ending last month, Nvidia reported $39.3 billion in revenue, $0.89 adjusted earnings per share and $22.1 billion of net income, equating to year-over-year revenue growth of 78% and profit growth of 71%.

Nvidia forecast first-quarter revenue above market estimates on Wednesday, expecting robust demand for its leading AI chips to persist as businesses spend heavily to expand generative artificial intelligence infrastructure.