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Nvidia Profits Soar Driven by Demand for Ai Chips

Tech giant Nvidia easily beat Wall Street estimates as its profits and revenues skyrocketed, boosted by its chipmaking
RTHK 12:53 pm on May 23, 2024

Nvidia's profits soar significantly due to surging demand for AI chips in the booming field of artificial intelligence, resulting in over sevenfold earnings growth and tripled revenues. Jensen Huang emphasizes this trend as foundational for future data centers specializing in AI production.

Revenue Surge: Nvidia's revenue tripling to US$26.04 billion.
Earnings Growth: Net income rose to US$14.88 billion, more than sevenfold from the previous year.
AI Adoption: The company's success highlights a growing demand for artificial intelligence technologies across industries.
Future of Data Centers: Jensen Huang introduces "AI factories" concept, setting the stage for next-generation AI production hubs.
Training Processes: Training AI models becomes quicker and more versatile in multimodal data comprehension and reasoning.

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