Nvidia's latest results and outlook came in stronger than Wall Street expected, good news for AI investors, though rising memory chip prices are set to eat into profits.

• Sales more than doubled from a year ago, and the company sees revenue growing about 70% in the coming fiscal year — far above the 45% analysts expected.
• Demand is so strong that Nvidia says it could sell even more if it could get more supply.
• Data centers are the main engine, with Amazon and Google as the biggest buyers.
• The catch: memory chips have gotten far more expensive than Nvidia itself predicted, and prices are expected to climb again next year.
• Profit margins will shrink over the next few months, then settle slightly lower once Nvidia's own price increases kick in.

Outlook: Chip demand looks secure for now, and the bigger question shifts to whether the wider AI spending boom holds up.