Nvidia's stock rises 4% after strong Q3 earnings beat, with CLSA maintaining a bullish outlook amid robust AI demand.

“There’s been a lot of talk about an AI bubble,” he said, but made it clear that Nvidia is seeing something remarkably different in the real world. Blackwell sales, he said, felt “off the charts,” while cloud GPUs are “sold out,” and demand is being driven by actual spending, not hype.

Nvidia reported another record quarter as AI demand continued to surge, with the company saying it has now shifted from a gaming-focused GPU maker to an AI data center giant.

Nvidia offered strong guidance for the current quarter following fiscal third-quarter results that topped Wall Street estimates on Wednesday as the AI arms race continued to drum up demand for its latest AI Blackwell chips.

Nvidia shows improving growth outlook with huge AI capex, tough $500B targets, China exclusions, and front-loaded demand risks. Learn why NVDA stock is a hold.

Chris Caso, Wolfe Research senior analyst, joins 'Squawk Box' to discuss Nvidia's quarterly earnings results, company sales outlook, the fair value for Nvidia shares, and more.

Q4 guidance also exceeded the analyst consensus estimates on the top and bottom lines. Nvidia's report indicates that the outlook for the AI market in general remains robust. Investors' positive reaction is attributable to Q3 revenue and adjusted earnings per share both beating Wall Street's estimates,

Renowned investor Michael Burry raises alarms about Nvidia's accounting practices, focusing on stock-based compensation and potential earnings overstatements following the company’s impressive quarterly results.

Nvidia (NVDA) shares rose 3.7% in extended trading on Wednesday after the semiconductor giant posted third-quarter results and guidance that were above Wall Street's forecast amid insatiable demand for artificial intelligence processors.