Every three months, global financial markets hyperventilate about Nvidia’s quarterly earnings release and the company’s guidance about its operations. Most importantly, it’s the buildout of the global artificial intelligence industry. 

Nvidia’s July quarter earnings and revenues, released Wednesday after the markets closed, came in better than Wall Street analysts expected. The company announced earnings of $1.05 against forecasts of $1.01. Revenues were $46.74 billion vs. estimates of $46.06 billion. The company modestly raised guidance for the current quarter. Nvidia does not assume shipments of its less powerful H20 chips to China this quarter.