The article discusses Nvidia’s strong performance in the artificial intelligence (AI) market, positioning it as an early winner among big tech companies. Nvidia’s shares surged after the company reported better-than-expected earnings, driven by robust demand for its AI chips. The company’s data center business, which includes AI-related products, saw a 67% year-over-year revenue increase. Nvidia’s AI capabilities have made it a key player in the AI race, with its chips powering AI models like ChatGPT. The company’s CEO, Jensen Huang, emphasized Nvidia’s focus on AI and its potential to revolutionize various industries. However, the article notes that Nvidia faces competition from tech giants like Microsoft, Google, and Amazon, who are also investing heavily in AI. Despite the competition, Nvidia’s early success in AI has made it a standout performer in the tech industry.
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Source: https://www.businessinsider.com/nvidia-big-tech-earnings-week-early-winner-ai-microsoft-2024-7