Categories: Market

Microchips for artificial intelligence: Nvidia increases profits 13 times

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Nvidia expects sales of $20 billion in the fourth quarter.

Nvidia provides the microchips required for artificial intelligence (AI). The company was founded 30 years ago by US-Taiwanese Jen-Hsun “Jensen” Huang and initially focused on graphics cards that offered better resolution images to PC gamers. These high-performance microchips are now also used in the development of artificial intelligence. However, Nvidia does not produce its chips itself, instead it develops them and outsources their production to other companies.

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By the end of May, Nvidia had already reached a market cap of over one trillion dollars. Otherwise, only technology group Apple, software giant Microsoft, online commerce giant Amazon, Google parent company Alphabet and Saudi Arabian oil company Aramco have such a market value.

Nvidia expects rapid growth to continue in the fourth quarter. The company said sales will rise to $20 billion despite the U.S. government’s new restrictions on semiconductor exports to China. CFO Colette Kress said “adverse impacts” on the China business would be offset by other regions.

(AFP)

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