A sign for a Nvidia office building is shown in Santa Clara, Calif., Wednesday, Aug. 7, 2024. , as tech giants continue to spend heavily on the company’s chips and data centers needed to train and operate their AI systems., with its dominance as a chipmaker cementing Nvidia’s place as the poster child of the AI industry ahead of the release of its latest financial results after the close of trading Wednesday.
Demand for generative AI products that can compose documents, make images and serve as personal assistants has fueled sales of Nvidia’s specialized chips over the last year. In the past three quarters, Nvidia’s revenue has more than tripled on an annual basis, with the vast majority of growth coming from the data center business.
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