Nvidia Close to Becoming First Trillion-Dollar Chip Firm After Stellar Forecast
Nvidia, the world’s largest graphics processing unit (GPU) maker, is on track to become the first trillion-dollar chip firm after it reported a stellar forecast for the current quarter. The company’s shares surged 28% on Thursday, taking its market value to nearly $970 billion.
Nvidia’s strong performance is being driven by the growing demand for artificial intelligence (AI) and data center chips. The company’s AI chips are used in a wide range of applications, including autonomous driving, machine learning, and gaming. Nvidia’s data center chips are used in cloud computing and other high-performance computing applications.
Nvidia’s forecast for the current quarter is also strong. The company expects revenue of $8.1 billion, which would be an increase of 46% from the same quarter last year. Nvidia also expects earnings per share of $2.80, which would be an increase of 80% from the same quarter last year.
Nvidia’s strong performance is a sign of the growing demand for AI and data center chips. The company is well-positioned to benefit from this demand and could become the first trillion-dollar chip firm in the near future.
Here are some additional details about Nvidia’s forecast:
- Revenue is expected to grow 46% year-over-year to $8.1 billion.
- Earnings per share is expected to grow 80% year-over-year to $2.80.
- The company expects to continue to grow its AI and data center businesses.
- Nvidia is well-positioned to benefit from the growing demand for AI and data center chips.
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