Chip giant Nvidia’s sales rise 56% in boost for AI boom | AI News Digest
Nvidia has reported a remarkable 56% increase in sales, reaching $46.74 billion for the quarter ending in July, signaling strong demand for AI technology. The company's profit also surged by 59% to $26.42 billion, reflecting its pivotal role in the ongoing AI boom. CEO Jensen Huang emphasized the extraordinary demand for Nvidia's products, particularly its latest Blackwell Ultra platform. Despite these impressive results, Nvidia's stock fell over 3% in after-hours trading due to high market expectations. Looking ahead, Nvidia forecasts revenue of $54 billion for the upcoming quarter, hinting at continued growth potential. The lifting of a sales ban on its H20 chip for China could further enhance Nvidia's market opportunities, although challenges remain.
