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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.
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)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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