Nvidia is making huge profits and has huge growth leading the AI revolution.
Nvidia had a great quarter by beating on revenue and profit estimates. Nvidia also gave strong guidance for the rest of the year.
Nvidia is almost a trillion dollar company. The 25% after hours move in price increases company value from $755 billion to $937 billion.
Nvidia’s data center group reported $4.28 billion in sales, versus expectations of $3.9 billion, a 14% annual increase. Nvidia said that performance was driven by demand for its GPU chips from cloud vendors as well as large consumer internet companies, which use Nvidia chips to train and deploy generative AI applications like OpenAI’s ChatGPT.
AI chips are becoming increasingly important for cloud providers and other companies that run large numbers of servers.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.