Nvidia announced on Wednesday that its quarterly revenue had doubled in a year to nearly $100bn. Jensen Huang, the founder and CEO, jubilantly declared that demand is accelerating as the AI industry had reached a “golden age”.

The chipmaker, the most valuable company in the world with a $5tn market cap, brought in $96.2bn in revenue, beating Wall Street expectations of $92bn in the second quarter. That’s 106% more than the company saw in revenue this time last year. The company expects its revenue to continue to grow to $108bn by the end of the third quarter, higher than analysts predicted.