While acknowledging that Nvidia doesn’t offer guidance beyond the ongoing quarter, Chief Executive Jensen Huang said on the earnings call that “fundamentally, the conditions are excellent for continued growth” over the next two calendar years “and beyond.”

The company is benefiting as general computing gives way to accelerated computing, and it’s seeing booming interest in generative artificial intelligence. Those areas have “hit the tipping point,” Huang said in Nvidia’s earnings release.

“This new AI infrastructure will open up a whole new world of applications not possible today,” he added on the call. “We started the AI journey with the hyperscale cloud providers and consumer internet companies, and now every industry is on board — from automotive, to healthcare, to financial services, to industrial, to telecom, media and entertainment.”

The chip giant has been seeing frenzied customer spending on AI hardware, and that was on display again Wednesday as the company reported fiscal fourth-quarter results. Revenue came in at $22.1 billion, up from $6.05 billion a year before, while analysts had been modeling $20.4 billion.

Data-center revenue at Nvidia rocketed more than 400% from a year before to hit $18.4 billion, while the FactSet consensus was for $17.06 billion.

Nvidia is forecasting continued strong growth for the ongoing quarter, well above expectations. The company is calling for $24.0 billion in revenue at the midpoint, up from $7.2 billion a year prior, while analysts were modeling $22.2 billion. Meanwhile, data-center revenue is expected to grow sequentially.

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Nvidia has faced supply constraints in recent quarters, but those are easing, according to Huang. At the same time, he expects that “demand will continue to be stronger” than Nvidia’s supply will provide throughout the year.

The company posted fiscal fourth-quarter net income of $12.3 billion, or $4.93 a share, compared with $1.4 billion, or 57 cents a share, in the year-earlier period. On an adjusted basis, it earned $5.16 a share, while analysts were projecting $4.59 a share.

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Nvidia saw a 56% year-over-year rise in gaming revenue for the latest quarter, with that total coming in at $2.9 billion. The FactSet consensus was for $2.7 billion.

It generated $463 million in professional-visualization revenue, up 105%, along with $281 million in automotive revenue, down 4%. Analysts were looking for $422 million and $275 million, respectively.

The company mentioned that its software and services offerings reached a $1 billion annualized run rate in the fiscal fourth quarter, and Nvidia is upbeat about its potential there.

“This is going to likely be a very significant business over time,” Huang said, noting that Nvidia was “really just getting started.”

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