Nvidia Posts Record Sales Amid Broad Chip Demand

Nvidia Corp. posted record quarterly sales across its business and projected a further increase in the current period as it moves on from its failed takeover bid for semiconductor-design specialist Arm Ltd.

The graphics-chip maker on Wednesday said it generated $7.64 billion in sales in the most recent quarter, up 53% from the year-ago period. It reported $3 billion in net income, more than double the prior year’s figure, and beat Wall Street expectations both on profit and sales.