The computer chip maker has become the essential provider of GPUs — hardware that is needed to train AI models.
of the wave of interest in “generative” AI tools spurred by the launch of OpenAI’s chatbot ChatGPT last November. Nvidia’s computer chips are specially suited to help AI programs crunch the huge amounts of data necessary to give them the capability to have complex conversations, translate language and generate images based on simple prompts. Though there are signs that interest from consumers in
, large companies are busy buying as many of Nvidia’s chips as they can to give themselves the ability to train and run AI software of their own.The interest in AI is “beginning to drive substantial demand in the real world, and Nvidia is perfectly poised to keep benefiting from that trend,” said Thomas Monteiro, senior analyst at financial news and analysis company Investing.com.
Nvidia reported revenue of $13.5 billion, compared the $11.2 billion than analysts had expected, on average, according to data company FactSet. Next quarter, Nvidia said it expects its revenue to be even higher, at around $16 billion. “A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” said Jensen Huang, Nvidia’s CEO, in a press release announcing the company’s second quarter earnings.
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