Nvidia: Artificial intelligence at 'tipping point' boss says
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Nvidia's creator and leader, Jensen Huang.
The head honcho of Nvidia - the company known for manufacturing the most valuable chips - asserts that we are at a crucial stage in the development of artificial intelligence (AI). This comes as the company proudly reveals their unprecedented sales figures.
The CEO of the tech company, Jensen Huang, spoke about the impressive financial results of their latest quarter where they achieved record-breaking figures. The company's revenue increased by an astounding 265% from the same time last year, reaching a total of $22 billion (£17.4 billion).
Additionally, the report mentioned a significant increase in the total earnings of $60.9 billion for the entire year compared to the previous year, which was more than twice the amount.
In extended New York trading, the shares of Nvidia increased by over 8.5%.
According to a statement made by Mr. Huang, the combination of accelerated computing and generative AI has reached a breaking point.
He stated that the request is increasing globally among firms, sectors, and countries.
Nvidia has predicted a significant rise of 233% in its quarterly earnings for the ongoing quarter, surpassing the projections made by analysts.
Bob O'Donnell from Technalysis Research expressed to the BBC that the final quarter held a great deal of anticipation, and he was pleased to announce that it surpassed all expectations.
He stated that the utilization of AI is becoming more prevalent among the general public. He emphasized that AI is not limited only to specialized technology businesses anymore.
Apart from the artificial intelligence (AI) processors, the company experienced an immense surge in the sales of its data centers.
During the latest quarter, the data centre enterprise of the company was responsible for generating the majority of its income, which had multiplied by more than five times from the previous year.
Yet, the corporation stated that it encountered various obstacles that hindered its supply chains.
The United States has strengthened its limitations on conducting business with China, which is ranked second in terms of economic size worldwide.
The worth of Nvidia in the stock market has escalated to a great extent, by 225%, during the past year; thereby ranking it amongst the most valuable and significant corporations in the United States.
