With one astronomical forecast, Nvidia has gone from a company best known for gaming chips to one whose role in artificial intelligence could make it into the world’s first trillion-dollar semiconductor stock.
The reality of the US chip designer’s last quarter was unimpressive. What is powering the share price is the current quarter. Revenues are expected to double at a critical unit. This sells graphics processing units used to train large-language models needed for generative AI.
That could bring company-wide revenues to $11bn, up more than 60 per cent on last year. The jump in demand does not appear to be a one-off. In the earnings call, Nvidia mentioned that it had procured “substantial” supply for the second half of the year.
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