In “All Eyes On NVDA” I wrote that Nvidia’s quarterly report due out Wednesday afternoon would be the first big test of the idea that this is an “iPhone moment” for Artificial Intelligence (AI). Well: NVDA passed the test, exceeding sky high expectations. Revenue of $13.5 billion far exceeded their $11 billion guidance and they are guiding current quarter revenue to $16.0 billion. That is about twice NVDA’s highest revenue quarter ever excluding the one they just reported. Astounding. Clearly the demand for chips to run AI is real and NVDA shares – already up 222% YTD – are up another 8% in the after hours.