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(Reuters) -Nvidia on Wednesday forecast a roughly threefold surge in quarterly revenue that handily beat estimates as the company banked on towering demand for its industry-leading artificial-intelligence chips, sending its shares up 10% after-hours. The already-hefty demand for the company's data center chips and graphics processing units (GPUs) continues to grow as firms scramble to expand their AI offerings. Nvidia's silicon dominates the global market for AI chips, where it counts the likes of Microsoft among its customers.

Intel says it plans to retake the mantle of making the world's fastest chips from TSMC later this year with what it calls Intel 18A manufacturing technology and extend that lead into 2026 with new technology called Intel 14A.

Nvidia's forecast beat estimates, but by a smaller amount than it had last year. For the first three quarters of 2023, Nvidia reported quarterly revenue that beat analyst estimates by between 10% and 20%.

Nvidia on Wednesday forecast a roughly threefold surge in quarterly revenue that handily beat estimates as the company banked on towering demand for its industry-leading AI chips.

Intel plans to retake the mantle of making the world’s fastest chips