Nvidia triples revenues thanks to the boom in artificial intelligence
US electronics giant Nvidia has reported another record quarter in terms of revenue thanks to its leadership position in the artificial intelligence (AI) sector.
The company, which holds a near-monopoly in the production of processors for AI computing, achieved revenues of $26 billion in the first quarter of this year, an increase of 262 percent year-on-year. Net profit recorded even more explosive growth: up 628 percent year-on-year, to $14,9 billion. These results prompted Nvidia founder and CEO Jensen Huang to declare yesterday that “the next industrial revolution has begun.
Companies and countries are collaborating with Nvidia to convert traditional trillion-dollar data centers to advanced computing to build a new type of data center – AI factories – and to produce a new raw material, artificial intelligence.”
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