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Nvidia shares jump 13% after sales surge on AI ‘tipping point’

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Nvidia shares jump 13% after sales surge on AI ‘tipping point’

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Nvidia shares jumped after the world’s most valuable chip company reported a 265 per cent increase in quarterly revenues and projected even stronger sales thanks to a spending frenzy on artificial intelligence.

Revenues were $22.1bn in the fourth quarter, far exceeding Wall Street expectations of $20.4bn, Nvidia said on Wednesday evening, adding that it expected revenues for the current quarter to be $24bn.

“Accelerated computing and generative AI have hit the tipping point,” said Nvidia founder and chief executive Jensen Huang. “Demand is surging worldwide across companies, industries and nations.”

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Nvidia’s shares gained more than 13 per cent in pre-market trading on Thursday to $764.50. The move puts the chip company on course to leapfrog Amazon and Google parent Alphabet and become the third most valuable US-listed company behind Microsoft and Apple.

Nvidia has been the biggest single driver of a rally in the S&P 500 this year, powering about a quarter of the gains on the index. Its importance has become so great that some investors and analysts were anticipating Wednesday’s financial report as holding a marketwide risk akin to the release of inflation data.

Nvidia said earnings per share had reached $4.93 in the fourth quarter, beating analysts’ expectations of $4.59, according to LSEG estimates.

Net income rose 770 per cent to $12.3bn compared with the same period in the previous year. The figure exceeded analysts’ expectations of $10.4bn.

Nvidia, founded in 1993 as a provider of graphics cards for computer games, has become a proxy for AI demand as Big Tech companies such as Alphabet, Microsoft, Amazon and Meta have all increased their investment in AI computing. Its leading chips, such as the H100, have become the industry standard for AI developers to crunch data for large language models. This has heralded a new industry known as generative AI, spawning chatbots and other software that can learn, understand and generate information in the form of text, images and video.

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The rapid success of OpenAI’s ChatGPT helped turn the H100 chips into the hottest commodity in Silicon Valley last year. Meta plans to bring its total stock of H100 chips to 350,000 in 2024, chief executive Mark Zuckerberg said in January. Supply rather than demand has become the main constraint on Nvidia’s growth in the short term.

“Nvidia has enabled a whole new computing paradigm called generative AI,” Huang said on a call with investors on Wednesday. He said its highly-prized chips were “essentially AI-generation factories” of a new industrial revolution.

“Every company is built on their proprietary business intelligence and, in the future, their proprietary generative AI,” he added. “Now every industry is on board.”

Big Tech companies account for nearly 40 per cent of Nvidia revenues, but its customers have diversified as more industries rush to invest in hardware for AI computing. Huang said industries including automotive, financial services and healthcare were now spending on its chips “at a multibillion-dollar level”. He added sovereign nations including Japan, Canada and France were becoming larger Nvidia customers as they harness citizen data to create their own AI models.

Nvidia’s data centre division is its largest driver of sales, generating $18.4bn of revenue in the fourth quarter, up 409 per cent from the same period last year. Gaming chips produced $2.9bn of sales.

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Investors are paying close attention to whether Huang can maintain Nvidia’s stratospheric growth rates as its focus shifts to new products, such as its top-end AI chip, the B100, which is expected to start shipping later this year.

The company is also facing mounting competition, including a move by some customers to develop their own AI chips, as well as in China, which in the past accounted for a quarter of revenue. New US export rules for the semiconductor industry meant Nvidia was forced to limit the capabilities of its products in order to continue to sell to the region.

Even with sales to China dropping to a “mid-single digit percentage” of overall revenue, according to the company, its latest results were welcomed by analysts. Saxo Bank head of equity strategy Peter Garnry said it was an “insane” result. “I have never seen anything like this in my career. However, it will be increasingly difficult for Nvidia to exceed expectations, and this could be the last insane quarter.”

Video: The race for semiconductor supremacy | FT Film

This article has been updated to correct the relative size of Nvidia compared with other listed companies

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Explosion at a Pennsylvania nursing home kills at least 2, governor says

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Explosion at a Pennsylvania nursing home kills at least 2, governor says

First responders work at the scene of an explosion and fire at Bristol Health & Rehab Center on Tuesday in Bristol, Pa.

Monica Herndon/The Philadelphia Inquirer/AP


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Monica Herndon/The Philadelphia Inquirer/AP

BRISTOL, Pa. — A thunderous explosion Tuesday at a nursing home just outside Philadelphia killed at least two people, collapsed part of the building, sent fire shooting out and left people trapped inside, authorities said.

Pennsylvania Gov. Josh Shapiro said in a news conference several hours after the explosion that at least two had been killed after emergency responders braved the flames and a heavy odor of gas to evacuate residents and employees.

Fire officials said they were in “rescue mode” five hours later, with responders still digging by hand and using search dogs and sonar to locate potential victims.

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The explosion happened at Bristol Health & Rehab Center in Bristol Township, just as a utility crew had been on site looking for a gas leak.

A plume of black smoke rose from the nursing home, as emergency responders, fire trucks and ambulances from across the region rushed there, joined by earthmoving equipment.

Authorities did not identify those who died and did not know the total number of those injured after residents and employees were evacuated to hospitals.

Shapiro asked his fellow Pennsylvanians to take a moment to pray “for this community, for those who are still missing, for those who are injured, and for those families who are about to celebrate Christmas with an empty chair at their table.”

The town’s fire chief, Kevin Dippolito, said at the Tuesday evening news conference that there were five people still unaccounted for, but he cautioned that some may have left the scene with family members.

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Dippolito described a chaotic rescue where firefighters found people stuck in stairwells and elevator shafts, and pulled residents out of the fiery building through windows and doors.

Emergency personnel work at the scene of an explosion and fire at Bristol Health & Rehab Center on Tuesday in Bristol, Pa.

Emergency personnel work at the scene of an explosion and fire at Bristol Health & Rehab Center on Tuesday in Bristol, Pa.

Monica Herndon/The Philadelphia Inquirer/AP


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Monica Herndon/The Philadelphia Inquirer/AP

They handed off patients to waiting police officers outside, including one “who literally threw two people over his shoulders,” Dippolito said. “It was nothing short of extraordinary.”

Bucks County emergency management officials said they received the report of an explosion at approximately 2:17 p.m. and said a portion of the building was reported to have collapsed.

Willie Tye, who lives about a block away, said he was sitting at home watching a basketball game on TV when he heard a “loud kaboom.”

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“I thought an airplane or something came and fell on my house,” Tye said.

He got up to go look and saw “fire everywhere” and people escaping the building. The explosion looked like it happened in the kitchen area of the nursing home, he said. Tye said some of the people who live or work there didn’t make it out.

“Just got to keep praying for them,” Tye said.

Shapiro said a finding that the gas leak caused the explosion was preliminary.

The local gas utility, PECO, said its crews had responded to reports of a gas odor at the nursing home shortly after 2 p.m.

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“While crews were on site, an explosion occurred at the facility. PECO crews shut off natural gas and electric service to the facility to ensure the safety of first responders and local residents,” the utility said in a statement.

Nils Hagen-Frederiksen, press secretary at the Pennsylvania Public Utility Commission, said investigators from the safety division were headed to the scene. Finding that the explosion was caused by a gas leak won’t be confirmed until his agency can examine the scene up close, he said.

Musuline Watson, who said she was a certified nursing assistant the facility, told WPVI-TV/ABC 6 that, over the weekend, she and others there smelled gas, but “there was no heat in the room, so we didn’t take it to be anything.”

The 174-bed nursing home is about 20 miles (32 kilometers) northeast of Philadelphia. Its owner, Saber Healthcare Group, said it was working with local emergency authorities. The facility had been known until recently as Silver Lake Healthcare Center.

The latest state inspection report for the facility was in October and the Pennsylvania Department of Health found that it was not in compliance with several state regulations.

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The inspection report said the facility failed to provide an accurate set of floor plans and to properly maintain several stairways, including storing multiple paint buckets and a bed frame under landings.

It also said the facility failed to maintain portable fire extinguishers on one of the three levels and failed to provide the required “smoke barrier partitions,” which are designed to contain smoke on two floors. It also said it didn’t properly store oxygen cylinders on two of three floors.

According to Medicare.gov, the facility underwent a standard fire safety inspection in September 2024, during which no citations were issued. But Medicare’s overall rating of the facility is listed as “much below average,” with poor ratings for health inspections in particular.

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BBC Verify: Satellite image shows tanker seized by US near Venezuela is now off Texas

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BBC Verify: Satellite image shows tanker seized by US near Venezuela is now off Texas

Trump was listed as a passenger on eight flights on Epstein’s private jet, according to emailpublished at 11:58 GMT

Anthony Reuben
BBC Verify senior journalist

One of the Epstein documents, external is an email saying that “Donald Trump traveled on Epstein’s private jet many more times than previously has been reported (or that we were aware)”.

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The email was sent on 7 January 2020 and is part of an email chain which includes the subject heading ‘RE: Epstein flight records’.

The sender and recipient are redacted but at the bottom of the email is a signature for an assistant US attorney in the Southern District of New York – with the name redacted.

The email states: “He is listed as a passenger on at least eight flights between 1993 and 1996, including at least four flights on which Maxwell was also present. He is listed as having traveled with, among others and at various times, Marla Maples, his daughter Tiffany, and his son Eric”.

“On one flight in 1993, he and Epstein are the only two listed passengers; on another, the only three passengers are Epstein, Trump, and then-20-year-old” – with the person’s name redacted.

It goes on: “On two other flights, two of the passengers, respectively, were women who would be possible witnesses in a Maxwell case”.

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In 2022, Ghislaine Maxwell was sentenced to 20 years in prison, external for crimes including conspiracy to entice minors to travel to engage in illegal sex acts and sex trafficking of a minor.

Trump was a friend of Epstein’s for years, but the president has said they fell out in about 2004, years before Epstein was first arrested. Trump has consistently denied any wrongdoing in relation to Epstein and his presence on the flights does not indicate wrongdoing.

We have contacted the White House for a response to this particular file.

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‘Music makes everything better’: A Texas doctor spins vinyl to give patients relief

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‘Music makes everything better’: A Texas doctor spins vinyl to give patients relief

Dr. Tyler Jorgensen sets “A Charlie Brown Christmas” on a record player at Dell Seton Medical Center in Austin Texas. He uses vinyl records as a form of music therapy for palliative care patients.

Lorianne Willett/KUT News


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AUSTIN, TEXAS — Lying in her bed at Dell Seton Medical Center at the University of Texas at Austin, 64-year-old Pamela Mansfield sways her feet to the rhythm of George Jones’ “She Thinks I Still Care.” Mansfield is still recovering much of her mobility after a recent neck surgery, but she finds a way to move to the music floating from a record player that was wheeled into her room.

“Seems to be the worst part is the stiffness in my ankles and the no feeling in the hands,” she says. “But music makes everything better.”

The record player is courtesy of the ATX-VINyL program, a project dreamed up by Dr. Tyler Jorgensen to bring music to the bedside of patients dealing with difficult diagnoses and treatments. He collaborates with a team of volunteers who wheel the player on a cart to patients’ rooms, along with a selection of records in their favorite genres.

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“I think of this record player as a time machine,” he said. “You know, something starts spinning — an old, familiar song on a record player — and now you’re back at home, you’re out of the hospital, you’re with your family, you’re with your loved ones.”

UT Public Health Sophomore Daniela Vargas pushes a cart through Dell Seton Medical Center on December 9, 2025. The ATX VINyL program is designed to bring volunteers in to play music for patients in the hospital, and Vargas participates as the head volunteer. Lorianne Willett/KUT News

Daniela Vargas, a volunteer for the ATX-VINyL program, wheels a record player to the hospital room of a palliative care patient in Austin, Texas.

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The healing power of Country music… and Thin Lizzy

Mansfield wanted to hear country music: Willie Nelson, Merle Haggard, George Jones. That genre reminds her of listening to records with her parents, who helped form her taste in music. Almost as soon as the first record spins, she starts cracking jokes.

“I have great taste in music. Men, on the other hand … ehhh. I think my picker’s broken,” she says.

Other patients ask for jazz, R&B or holiday records.

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The man who gave Jorgensen the idea for ATX-VINyL loved classic rock. That was around three years ago, when Jorgensen, a long-time emergency medicine physician, began a fellowship in palliative care — a specialty aimed at improving quality of life for people with serious conditions, including terminal illnesses.

Shortly after he began the fellowship, he says he struggled to connect with a particular patient.

“I couldn’t draw this man out, and I felt like he was really struggling and suffering,” Jorgensen said.

He had the idea to try playing the patient some music.

He went with “The Boys Are Back in Town,” by the 1970s Irish rock group Thin Lizzy, and saw an immediate change in the patient.

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“He was telling me old stories about his life. He was getting more honest and vulnerable about the health challenges he was facing,” Jorgensen said. “And it just struck me that all this time I’ve been practicing medicine, there’s such a powerful tool that is almost universal to the human experience, which is music, and I’ve never tapped into it.”

Dr. Tyler Jorgensen, a palliative care doctor at Dell Seton Medical Center, holds a Willie Nelson album in an office on December 9, 2025. Ferguson said patients have been increasingly requesting country music and they had to source that genre specifically.

Dr. Tyler Jorgensen plays vinyl records as a form of music therapy for palliative care patients in Austin, Texas. Willie Nelson’s albums are a perennial hit.

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Creating new memories

Jorgensen realized records could lift the spirits of patients dealing with heavy circumstances in hospital spaces that are often aesthetically bare. And he thought vinyl would offer a more personal touch than streaming a digital track through a smartphone or speaker.

“There’s just something inherently warm about the friction of a record — the pops, the scratches,” he said. “It sort of resonates through the wooden record player, and it just feels different.”

Since then, he has built up a collection of 60 records and counting at the hospital. The most-requested album, by a landslide, is Fleetwood Mac’s Rumours from 1977. Willie is also popular, along with Etta James and John Denver. And around the holidays, the Vince Guaraldi Trio’s A Charlie Brown Christmas gets a lot of spins.

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These days, it’s often a volunteer who rolls the record player from room to room after consulting nursing staff about patients and family members who are struggling and could use a visit.

Daniela Vargas, the UT Austin pre-med undergraduate who heads up the volunteer cohort, became passionate about music therapy years ago when she and her sister began playing violin for isolated patients during the COVID-19 pandemic. She said she sees similar benefits when she curates a collection of records for a patient today.

“We are usually not in the room for the entire time, so it’s a more intimate experience for the patient or family, but being able to interact with the patient in the beginning and at the end can be really transformative,” Vargas said.

Often, the palliative care patients visited by ATX-VINyL are near the end of life.

Jorgensen feels that the record player provides an interruption of the heaviness those patients and their families are experiencing. Suddenly, it’s possible to create a new, positive shared experience at a profoundly difficult time.

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“Now you’re sort of looking at it together and thinking, ‘What are we going to do with this thing? Let’s play something for Mom, let’s play something for Dad.’” he said. “And you are creating a new, positive, shared experience in the setting of something that can otherwise be very sad, very heavy.”

Other patients, like Pamela Mansfield, are working painstakingly toward recovery.

She has had six neck surgeries since April, when she had a serious fall. But on the day she listened to the George Jones album, she had a small victory to celebrate: She stood up for three minutes, a record since her most recent surgery.

With the record spinning, she couldn’t help but think about the victories she’s still pursuing.

“It’s motivating,” she said. “Me and my broom could dance really well to some of this stuff.”

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