Nvidia claims its sales have hit records which are more than double after artificial intelligence AI chips. The company also says the revenue has jumped above $13.5bn for the past three months till the end of June. Nvidia also expects sales in current quarters and also plans to buy the $25bn of its stock.
The firm’s shares rose more than 6.5%.In the extended trading in New York, this is a huge gain in one year. Nvidia also expects revenue of around $16bn for the three months. This margin is higher than Wall Street expectations and it’s also going to be equal to rise.
Nvidia’s chief executive, Jensen Huang says
“A new computing era has begun,”
“Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,”
This year Nvidia’s stock market value jumped more than $1 trillion in their shares and it’s more and triple the increase in value.
Sarah Kunst, the managing director of Cleo Capital, told BBC’s Today program
“the almost mania” around Nvidia.
“They’ve been making chips for a very long time and it’s only really been in the last couple of years that the market has sort of caught on to this,”
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