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Nvidia shows who is the boss of AI, and presents mind-blowing results

© Nvidia

If we had to designate a real winner of the AI ​​boom observed since the end of 2022, Nvidia would be the real winner without dispute. The American company has indeed benefited from the enthusiasm surrounding this technology by responding to the growing demand for electronic chips. Previously specializing in video game graphics cards, the firm has been able to broaden its horizons to adapt to this new situation.

Spectacular results

Today valued at 1,800 billion dollars, the company was only worth 350 at the very beginning of the year 2023. Investors have reason to be reassured after the publication of the company's latest quarterly results this Wednesday.

Nvidia announced a turnover of $22.1 billion for the fourth quarter, an increase of 265% compared to the same period the previous year! It even forecasts revenues of around $24 billion for the current quarter. It was enough to inspire the American stock market, and the action of the Tech giant soared by 14% from the opening this Thursday, February 22.

In a press release released for the occasion, Jensen Huang, CEO of Nvidia, rejoiced: “ Accelerated computing and Generative AI have reached the tipping point. Demand is growing across companies, sectors and countries around the world».

Unstoppable Growth ;?

This success owes nothing to chance, and among Nvidia's most diligent customers, we find OpenAI, Google, Microsoft, and Meta who are multiplying contracts in order to ensure the delivery of GPUs for their AI.

A big question remains: is this good run lasting ? Nvidia is certainly very well armed, but it will have to manage competition from AMD which recently unveiled its MI300X chip, a rival to its H100, explain our colleagues from Business Insider. Chinese rivals are also not far behind. Thus, Huawei and Tencent are preparing their response and targeting the Middle Kingdom market.

As for demand for electronic chips, it is expected to remain very strong in the years to come. If we are to believe the American press, Sam Altman, the CEO of OpenAI is working on a gigantic fundraising of 7,000 billion dollars which would be used to mass produce this essential AI fuel.

What to remember:

  • Nvidia is one of the big winners in the AI ​​race
  • Its electronic chips are in high demand by Tech giants
  • The company has just announced excellent quarterly results

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116