TNB Tech Minute: Nvidia Posts Record Sales, Beats Back Bubble Fears

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Here's your afternoon TNB Tech Minute for Wednesday, February 25th. I'm Julie Chang for The Wall Street Journal. NVIDIA reported record sales and income in the January quarter, beating back concerns of a possible AI bubble. The chipmaker reported fourth quarter net income of $43 billion. That's up 35% from the year earlier quarter.

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Sales topped $68 billion, up 20% from a year earlier, both beating estimates.

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With each passing quarter, the pressure grows on NVIDIA, which at a market value of nearly $5 trillion, is the world's largest publicly traded company, to beat Wall Street expectations. Shares of Workday paired early losses and turned higher after the human resources software provider guided for slower subscription revenue growth.

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Investors have been concerned about the risks AI poses to its business. The company guided for subscription revenue, the bulk of its top line, to grow by 12 to 13 percent this fiscal year. Workday's CEO pushed back on the idea that the company's tools will be replaced by AI, saying no amount of coding can produce such a system. Shares closed up roughly 2%.

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The stock was down as much as 9.6% before climbing back. And Samsung Electronics unveiled its new Galaxy S26 smartphones today. The company highlighted the latest model's easy-to-use AI features. For example, users will be able to call an Uber by entering the destination through voice or text. Users will also be able to edit photos directly in the gallery app by entering a prompt.

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The new phones are slated to be available in the U.S. and other markets around mid-March. Due to increased memory chip costs, the price for the base model will see an increase of $40, bringing its cost to approximately $900. And that's it for your TMB Tech Minute. We'll have another quick tech update in the morning.