Nvidia posted revenues of $30 billion in its latest earnings report, beating analyst expectations.

The company's data center division continued to show significant growth, bringing in $26.3bn - an increase of 154 percent from the same period last year.

“Hopper demand remains strong, and the anticipation for Blackwell is incredible,” said Jensen Huang, founder and CEO of Nvidia.

“Nvidia achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI,” he added.

“Blackwell samples are shipping to our partners and customers. Spectrum-X Ethernet for AI and Nvidia AI Enterprise software are two new product categories achieving significant scale, demonstrating that Nvidia is a full-stack and data center-scale platform. Across the entire stack and ecosystem, we are helping frontier model makers to consumer internet services, and now enterprises. Generative AI will revolutionize every industry.”

The company said that in the first half of the fiscal year, it spent $15.4bn on stock buybacks and dividends. It previously announced plans to buy another $7.6bn in shares, but now added that it would buy an additional $50bn.

Shares in the company fell six percent on the revenue beat.