The article discusses Nvidia’s financial results for the first quarter of 2024, where the company reported better-than-expected earnings and revenue. Nvidia’s CEO, Jensen Huang, stated that the demand for their chips, particularly in the artificial intelligence (AI) and data center markets, is outpacing supply. The company’s data center business, which includes chips for AI applications, saw a significant revenue increase of 67% year-over-year. Huang emphasized the importance of AI and the company’s focus on developing more powerful chips to meet the growing demand. Nvidia also announced plans to build a new $1 billion AI computing factory in the United States to increase production capacity. The article highlights the company’s strong position in the AI chip market and its efforts to expand manufacturing capabilities to address the high demand for its products.
Source: https://www.businessinsider.com/nvidia-beats-estimates-says-chip-demand-ahead-of-supply-2024-5