Revenues at Nvidia more than double to $96bn

Chipmaker Nvidia has reported another huge jump in sales as the global push to build artificial intelligence (AI) systems continues at a rapid pace.

Nvidia stock could see a $280 billion market value swing after earnings as options traders price a 5.4% move and investors watch AI demand.

Nvidia’s earnings Wednesday beat expectations and its revenue doubled from a year ago, but investors were left unimpressed.

Revenue topped $96 billion compared to $92 billion estimated by analysts, while earnings per share stood at $2.22, compared to the estimated $2.10.