Chip company AI boom keeps chip company Nvidia on record course
The American chip company Nvidia has continued to benefit enormously from the AI boom and remains on course for record sales.
29.08.2024, 00:17
SDA
In the last quarter, turnover rose from 13.5 billion dollars in the previous year to a good 30 billion dollars - an increase of 122 percent. This follows on from the previous three months, in which revenue jumped by 262 percent. Nvidia technologies were originally developed for graphics cards. However, it then turned out that they are also excellently suited for the computing work involved in teaching applications with artificial intelligence. Nvidia's chips thus became a key technology for the future of AI - and the company also benefits from the associated software and services business.
STRONG GROWTH IN DATA CENTER TECHNOLOGY
Business with technology for data centers grew particularly strongly in the past quarter. At 26.3 billion dollars, turnover was 154 percent higher than a year ago, according to Nvidia. Nvidia's quarterly profit jumped from just over 6.2 to almost 16.6 billion dollars in a year-on-year comparison. For the current quarter, the company forecast a further increase in turnover to 32.5 billion dollars - while analysts had expected an average forecast of just under 32 billion dollars. However, investors are concerned that the next Nvidia chip system, called Blackwell, still needs some reworking. However, according to the company, demand for the current Hopper chips remains strong. The share price fell by almost four percent at times in after-hours trading.
