NVIDIA Booms on the Back of AI
The latest earnings report from NVIDIA shows impressive profits, reaching over $6 billion thanks to the rise in generative AI. In Q2:
the company generated $13.51 billion in revenue, a significant increase from the $6.7 billion earned during the same period last year.
The majority of this revenue came from their data center business, which earned $10.32 billion. This business provides crucial chips, such as the A100 and H100, which are essential for developing AI applications like ChatGPT.
This success is a direct result of NVIDIA's decision to focus on AI in 2018 and highlights the potential for growth in the industry.
As the world increasingly relies on AI tools and infrastructure for future tech developments, NVIDIA's success is a clear indication of the industry's potential.