"Computer-chip designer Nvidia has been boosted by big tech firms keen to expand their AI capabilities, despite dealing with US and China tensions. On Wednesday it reported $46.7bn revenue (34.6bn) for the second three months of the year, a 56% surge from the same period in 2024. But Nvidia, which has been caught in the crossfire of a trade war between the US and China, said it "continued to work through geopolitical issues" and its shares fell in after-hours trading."
"On Wednesday it said demand for its products remains strong, especially from big tech firms including Instagram-owner Meta, and ChatGPT-maker OpenAI, as they race to build-out AI. "The AI race is now on," said Nvidia boss Jensen Huang in a call with analysts following the report's release, saying spending from four big tech firms had doubled to $600bn per year."
Nvidia reported $46.7bn in revenue for the quarter, a 56% year-over-year increase, driven largely by demand for AI chips from major technology firms. Revenue from data centres rose 56% to $41.1bn, reflecting intensive investment from customers such as Meta and OpenAI. Nvidia forecast about $54bn revenue for the current quarter and reached a $4 trillion market value in July. The company resumed some high-end chip sales to China while noting it "continued to work through geopolitical issues." CEO Jensen Huang said AI spending by four big tech firms doubled to $600bn per year and called Nvidia a major part of AI infrastructure.
Read at www.bbc.com
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