Nvidia profits soar on demand for AI power
Nvidia said Wednesday its quarterly net profit rocketed by seven times year-on-year on demand for its chips to power artificial intelligence in data centers.
The
Nvidia also announced a 10-for-one stock split effective
"The next industrial revolution has begun," Nvidia chief executive
"Companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center -- AI factories -- to produce a new commodity: artificial intelligence."
Demand was strong for sophisticated GPUs (graphics processing units) tailored for the demands of training AI models, according to Huang.
In a promising sign, interest in generative AI is expanding beyond cloud computing titans to consumer internet, automotive, and healthcare companies as well as nations seeking to build sovereign AI, Huang said.
"Nvidia defies gravity again as AI companies globally continue to depend on its chips, networking hardware, and its software ecosystem," said
"We can expect that more bold innovative moves from Nvidia will help it maintain its industry position for the foreseeable future."
Huang said he expects demand for Nvidia chips to outstrip supply for some time to come.
"We're racing every single day" with Nvidia chips being snapped up as fast as they are made, according to Huang.
-
US tech colossus Amazon on Wednesday announced its cloud computing division AWS will invest
The move comes on the heels of its announcement this month of a
Huang has described Nvidia chips as being at the heart of datacenters transforming into "AI generation factories" with data a "raw material" turned into experiences such as prompt-generated videos made using OpenAI's new Sora tool.
In regions outside
Nvidia chief financial officer
Sovereign AI infrastructure is being built in
The
Calls to further close the supply chain grew after the world discovered the powers of AI with the launch of ChatGPT, a tool that debuted in
"Our business in
"And, it's a lot more competitive in
Nvidia reconfigured products to comply with US export constraints on chip technology, according to the company.
US export control regulations aimed at
gc/mlm
LETTER: Trump is on trial for a very good reason
U.S. Attorney for the Middle District of Florida: Tampa Man Sentenced for Conspiracy to Commit COVID-Related Unemployment Insurance Fraud and Identity Theft
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News