Nvidia posted strong revenue and profits that exceeded Wall Street’s expectations Wednesday. The closely watched result could prompt a sigh of relief across the stock market following growing concerns about an artificial intelligence bubble.

Record sales, a strong financial forecast, and CEO Jensen Huang’s impassioned arguments on his company’s earnings call weren’t enough to push Nvidia shares back to their October high.

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.

Nvidia’s sales of the computing chipsets powering the artificial intelligence craze surged beyond the lofty bar set by stock market analysts in a performance that may ease recent jitters about a Big Tech boom turning into a bust that topples the world’s most valuable company.

The chipmaker’s website touts its work with companies like ZTE, which has been effectively banned from selling its products in the U.S. over national security concerns.

Nvidia reported more eye-catching numbers for its fiscal third quarter Wednesday, with net income jumping 65% and revenue increasing 62% from a year earlier.

"There is no question that Nvidia will make a bunch of money," Gary Marcus, a professor emeritus of psychology and neuroscience at New York University, who specializes in AI, told ABC News. "There are many questions about where the market is headed after this initial burst of enthusiasm."

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.