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Chip company Nvidia’s sales and profits more than doubled again, thanks to the continued boom in artificial intelligence (AI). “Nvidia’s sales hit a record high as data centers around the world upgrade for AI,” said the company’s CEO Jensen Huang. However, the outlook of the world’s largest supplier of high-performance AI chips was still in line with market expectations. As a result, the stock fell nearly 7% in after-hours trading on Wall Street.
Last quarter, sales rose 122% to $30 billion from $13.5 billion the year before. Nvidia thus built on the previous three months, which saw revenue increase 262%.
Nvidia technologies were originally developed for graphics chips. But they later proved ideal for computing work when using artificial intelligence training applications. As a result, Nvidia’s chips have become a key technology for the future of artificial intelligence, and the group has also benefited from related software and services. The data center technology business grew particularly strongly last quarter. Nvidia announced that sales reached $26.3 billion, up 154% from a year ago.
Nvidia announced revenue of $32.5 billion for the quarter, plus or minus 2%, with an adjusted operating margin of 75%. Analysts had expected sales of $31.69 billion.
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