"Chip giant Nvidia has set a new sales record, a sign that demand for artificial intelligence remains strong despite fearsthe technology may be overhyped. Nvidia, the world's most valuable company, on Wednesday reported revenue of $46.74bn for the three months that ended in July, a rise of 56 percent year-on-year. list of 4 itemslist 1 of 4list 2 of 4list 3 of 4list 4 of 4end of list Profit for the quarter was $26.42bn, a yearly rise of 59 percent."
"Nvidia CEO Jensen Huang said that production of Blackwell Ultra, Nvidia's latest platform using its most advanced chips, was ramping up at full speed and demand for the company's products was extraordinary. The AI race is on, and Blackwell is the platform at its centre, Jensen said. Looking ahead, the Santa Clara, California-based tech giant predicted revenue of $54bn, plus or minus 2 percent, for the July-September quarter, which would be slightly above market expectations."
"Nvidia's sales notably did not include any shipments to China, whose market is subject to US government export controls intended to blunt Beijing's ability to develop AI. US President Donald Trump's administration earlier this month lifted a ban on sales of Nvidia's H20 chip, which was designed specifically for the Chinese market, following concerted lobbying by Huang. As part of its agreement with the Trump administration, Nvidia agreed to pay the US government 15 percent of revenues from chip sales in China."
Nvidia reported $46.74bn revenue for the quarter ended in July, a 56% year-on-year increase, and profit of $26.42bn, up 59% annually. Production of Blackwell Ultra is ramping up at full speed, and demand for the company's products was described as extraordinary. The company forecasted approximately $54bn in revenue, plus or minus 2%, for the July-September quarter. Nvidia's stock fell more than 3% in after-hours trading despite the results. Sales did not include shipments to China because of US export controls. The US lifted a ban on the H20 chip after lobbying, and Nvidia agreed to pay 15% of Chinese chip sales revenue to the US government.
Read at www.aljazeera.com
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