Nvidia reported an incredible $6.7 billion in net income in the quarter, a 422% increase over the same time last year, in its earnings report for the quarter ended July 30.
Nvidia makes the graphics processors, or GPUs, that are needed to build AI applications like ChatGPT. In particular, there's extreme demand for its highest-end AI chip, the H100, among tech companies right now. The company's stock rose more than 6% after hours on the news, adding to its remarkable gain of more than 200% this year so far.
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