Chip giant Nvidia has reported stronger-than-expected revenues, easing investor concerns about heavy artificial intelligence (AI) spending that have unsettled markets.

The numbers couldn’t have come at a better time for Nvidia’s new infrastructure partners Brookfield and the Kuwait Investment Authority, which this week unveiled plans to amass a $100 billion portfolio of physical assets that underpin the delivery of AI, including AI factories, power stations and data centers.

Microsoft, Nvidia, and Anthropic seal a multibillion-dollar AI pact, scaling Claude on Azure with Nvidia chips to bring frontier models to more enterprises.

Nvidia shares were initially up after an earnings report that included raised revenue guidance for the next quarter. But shares closed 3% lower.

Analysts say Nvidia's blockbuster earnings show the AI boom is still accelerating and that fears of an AI bubble are overstated.

Nvidia CEO Jensen Huang told employees this week that the company has been pushed into a no-win situation by mounting fears of an AI bubble, even as it continues to post blockbuster results, according to audio of an internal all-hands meeting reviewed by Business Insider.

Prosecutors have accused Brian Raymond, founder of AI infrastructure and consulting company Bitworks, and three others of selling coveted Nvidia chips to unspecified Chinese companies.

Michael Burry of "The Big Short" is lighting up social media after betting against Nvidia and Palantir and casting doubt on the AI boom.