American chip manufacturer Nvidia achieved a record turnover of $81.6 billion last quarter. Net profit tripled from a year earlier to $58.3 billion. On the stock exchange, the value of the chip maker has now grown to more than 5 trillion dollars (that’s 12 zeros), making it the most valuable company in the world.

Although these figures exceed expectations, Nvidia’s stock did not rise particularly fast after the quarterly results were announced. Investors now seem accustomed to the company’s success.

The company makes chips that are used for AI data centers. In recent years, these have been developed worldwide at a rapid pace, leading to large profits for companies such as Nvidia.

CEO Jensen Huang said at the presentation of the quarterly figures that he expects turnover to grow to $91 billion next quarter for this reason. Nvidia’s success also means good news for the many companies that supply the chip maker.

Developments in the AI ​​industry are going very fast. Investors are currently investing a lot of money in companies active in this sector.

Although Nvidia currently towers above everyone, competition is increasing. Last week, AI chip manufacturer Cerebras Systems made an IPO in New York. With an initial proceeds of $5.5 billion, it was the largest IPO on Wall Street this year.