Nvidia has forecast quarterly revenue above estimates and announced a stock split, lifting its shares to record-high territory and impressing investors who have tripled the chipmaker's market value in the past year on AI optimism.
Wall Street's main event so far this week, Nvidia's earnings report could add fresh fuel to a stock market rally that has lifted indexes to record highs this year. During a conference call with analysts, CEO Jensen Huang said Nvidia's upcoming Blackwell AI chips will ship in the current fiscal quarter, with production increasing in the following quarter.
The Taiwanese company said in April it expects to more than double its advanced packaging capacity this year. Dominating more than 80% of the market for AI chips, Nvidia stands in a unique position as both the largest enabler as well as beneficiary of surging AI development. The high performance of Nvidia's chips makes them difficult to replace in present AI data centres. Adding to this lead is its proprietary CUDA software framework that developers use to programme the AI processors.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IrishTimes - 🏆 3. / 98 Read more »