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AI chipmaker Nvidia's revenue jumps 69% to $44.1 billion
Economic Times
·
2m ago
Medial
Nvidia reported a 69% year-on-year increase in quarterly sales, reaching $44.1 billion, despite U.S. restrictions on chip sales to China, its largest semiconductor market. The company's net income also rose 26% to $18.78 billion, surpassing Wall Street's sales expectations but falling short on profit predictions. Nvidia anticipates a 50% revenue increase this quarter, partly due to its new AI chip. The company's market value now ranks second globally, behind Microsoft.
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Nvidia’s role in the AI wave has made it a $2 trillion company
The Verge
·
1y ago
Medial
Nvidia has become the first chipmaker to reach a market capitalization of $2 trillion, following strong growth in the AI chip market. The California-based company reported record revenue of $60.9 billion in 2023, a 126% increase from the previous year. Nvidia's rapid ascent has left other tech giants like Amazon and Alphabet behind. While companies like Microsoft and Intel are working on their own AI chips, matching Nvidia's performance and production capabilities remains a challenge. This milestone places Nvidia in an elite group alongside Apple and Microsoft, who have also surpassed the $2 trillion valuation mark.
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Broadcom CEO compensation more than doubles to $162 million in 2023
Economic Times
·
1y ago
Medial
Broadcom CEO Hock Tan's annual compensation more than doubled to $161.8 million in 2023, with stock awards of $160.5 million driving the increase. This marks a significant jump from his 2022 pay of $60.6 million. Broadcom recently completed its $69 billion acquisition of VMware, after obtaining regulatory approval in China. The chipmaker reported revenue of $35.82 billion in 2023, and its stock has performed well, rising 17% in 2024.
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Nvidia rallies as Wall Street anticipates pivotal report
Economic Times
·
1y ago
Medial
Nvidia's shares have more than tripled this year, with the chipmaker at the center of a Wall Street technology rally fueled by optimism about the potential of AI. A lot of market shift and sentiment in AI funding is dependent on Nvidia's shares' performance.
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Chipmaker Broadcom expects $69 billion VMware deal to close before November deadline
Economic Times
·
1y ago
Medial
US chipmaker Broadcom and cloud-computing firm VMware expect their $69 billion merger deal to be completed before the November deadline, according to a statement. However, concerns remain over securing approval from China's State Administration of Market Regulation (SAMR). Broadcom has received clearances from various regulatory bodies, but China's approval may be delayed due to stricter chip controls introduced by the US. The deal, Broadcom's largest ever, aims to diversify the chipmaker into enterprise software.
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Nvidia's CEO's networth jumps from $4.6B to % 46.1B after earnings call
Livemint
·
1y ago
Medial
Aftermarket trading saw shares surge up to 10%, propelling Nvidia co-founder Jensen Huang's fortune to $46.1 billion. This surge could potentially place Huang among the world's top 25 billionaires. His 3.5% stake in Nvidia is the driving force behind his wealth, with Nvidia's shares experiencing volatility due to factors like the crypto boom and AI demand. Nvidia recently doubled its revenue and is optimistic about growing demand and supply in the upcoming year.
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Nvidia market cap threatens Alphabet after overtaking Amazon
Economic Times
·
1y ago
Medial
Nvidia's market capitalization surpassed Amazon's for the first time in 20 years, positioning the dominant AI chipmaker to potentially overtake Alphabet as the third most valuable company on Wall Street. With a market value of $1.78 trillion, Nvidia's growth is fueled by the increasing demand for AI integration in products and services. While its stock slipped 0.17%, Nvidia's lead in the high-end AI chip market, controlling 80% of it, has boosted its stock by 46% this year.
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For Nvidia, it’s AI or bust as it reports a record-breaking quarter
Arstechnica
·
1y ago
Medial
Nvidia's CEO, Jensen Huang, predicts the AI boom will continue into next year and has announced a $25 billion share buyback program. This comes as Nvidia's earnings far exceed expectations, with quarterly revenue reaching $13.51 billion, a 101% increase from a year ago. Nvidia's near-monopoly on hardware for accelerating neural network training and deployment positions it strongly in the generative AI market. The demand for GPUs in AI applications is immense, and Nvidia's lead in this space remains unmatched, making it the first $1 trillion chip company.
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Nvidia’s Big Tech rivals put their own AI chips on the table
Economic Times
·
1y ago
Medial
Big tech companies like Amazon, Google, Meta, and Microsoft are investing in building their own AI chips to reduce costs, eliminate shortages, and challenge NVIDIA's dominance in the AI chip market. While NVIDIA is the leader in AI chip sales, the tech giants are looking to control their own destiny by creating their own chips. However, they continue to work closely with NVIDIA and maintain partnerships with the chipmaker, ensuring they still offer its chips alongside their own. The AI chip market is projected to double by 2027, reaching around $140 billion.
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Nvidia stock surges as revenue forecast tops estimates, AI demand continues
Economic Times
·
1y ago
Medial
Nvidia's Q4 revenue is expected to increase by three times, surpassing estimates, driven by strong demand for its AI chips. The company dominates the global market for AI chips, counting Microsoft as one of its customers. The stock market value of Nvidia and other AI-related companies rose by $160 billion. However, concerns are raised about the sustainability of this growth rate. Nvidia's Q1 revenue is forecasted to grow 233% and its data center segment reported an impressive growth of 409%. Despite supply chain challenges, improvements are expected as Taiwan Semiconductor Manufacturing increases its packaging capacity. Nvidia's Q4 revenue was $22.10 billion, beating estimates, and its stock has gained over 30% this year.
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Nvidia profits soar over 600%, revenues above 200% as shares top $1,000
Livemint
·
1y ago
Medial
Nvidia Corp. has reported stellar earnings, with profit and revenue soaring due to the company's dominance in AI chips. Its net income surged to $14.88 billion, a sevenfold increase from the previous year, and revenue tripled to $26.04 billion. Nvidia's shares also crossed the $1,000 mark for the first time. The company's CEO, Jensen Huang, emphasized the significant role of AI in the next "industrial revolution" and predicted an increase in the use of Nvidia chips for building AI factories. Analysts praised Nvidia's performance, highlighting its continued dominance in the AI hardware market.
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