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Nvidia Posts Record Revenue Up 265% On Booming AI Business
In its fourth quarter earnings report today, Nvidia beat Wall Street's forecast for earnings and sales, causing shares to rise about 10% in extended trading. CNBC reports: Here's what the company reported compared with what Wall Street was expecting for the quarter ending in January, based on a sur...
Nvidia CEO Jensen Huang addressed investor fears that the company may not be able to keep up this growth or level of sales for the whole year on a call with analysts. He says demand for the company's GPUs will remain high due to generative AI and an industry-wide shift away from central processors to the accelerators that Nvidia makes. "Strong demand was driven by enterprise software and consumer internet applications, and multiple industry verticals including automotive, financial services and health care," the company said in commentary provided to investors.
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