Nvidia Earnings Show Soaring Profit and Revenue Amid AI Boom
Nvidia, the kingpin of chips powering artificial intelligence, on Wednesday released quarterly financial results that reinforced how the company has become one of the biggest winners of the artificial intelligence boom, and it said demand for its products would fuel continued sales growth.The Silicon Valley chip maker has been on an extraordinary rise over the past 18 months, driven by demand for its specialized and costly semiconductors, which are used for training popular A.I. services like OpenAI’s ChatGPT chatbot. Nvidia has become known as one of the “Magnificent Seven” tech stocks, which, including others like Amazon, Apple and Microsoft, have helped power the stock market.Nvidia’s valuation has surged more than 40 percent to $1.7 trillion since the start of the year, turning it into...