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Are investors buying Nvidia’s latest A.I. Nvidia’s stock has soared more than fivefold since ChatGPT debuted in November 2022, a rally that has vaulted the chipmaker into the trillion-dollar market cap club on the back of investor fervor for artificial intelligence — and the high-end processors that power these models. But shares in Nvidia are down in premarket trading on Tuesday after investors gave the first day of the company’s annual developer conference (known as “A.I. Woodstock”) a tough grade. That’s even after the semiconductor company introduced its latest chip, which is capable of running increasingly complex computing models.

Persons: ChatGPT, A.I Organizations: Nvidia Locations: Woodstock

☆ The Big Number: $1.5 Trillion
▼ + stars: | 2024-02-23 | by ( Marie Solis | ) www.nytimes.com time to read: 1 min

On an earnings call on Wednesday, Nvidia reported that revenue in its fourth quarter more than tripled from a year earlier to $22.1 billion, while profit soared nearly ninefold to $12.3 billion. It projected even more growth in the current quarter, forecasting that its revenue would rise to about $24 billion. Buoyed by this bullish outlook, Nvidia’s stock price closed at 31 times its sales on Thursday.

Organizations: Nvidia

☆ Nvidia names Huawei a top competitor in major areas including AI chips
▼ + stars: | 2024-02-23 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Nvidia has named Huawei a top competitor in a number of areas, including in the crucial production of processors that power artificial intelligence (AI) systems. Other companies also listed as its rivals in some areas include AMD, Amazon (AMZN), Microsoft (MSFT) and Broadcom (AVGO). In October 2022, the Biden administration imposed sweeping curbs designed to curtail China’s access to advanced computing chips. In July, it imposed export controls on two strategic raw materials, gallium and germanium, that are critical to the global chipmaking industry. Data centers, which includes the graphics cards that are widely use in generative AI, are Nvidia’s biggest source of revenue.

Persons: Jensen Huang, Biden, ” Colette Kress, CNN’s Rob McLean, David Goldman Organizations: Hong Kong CNN, Nvidia, Huawei, AMD, Microsoft, Broadcom, CNN, Micron, “ Locations: China, Hong Kong, Santa Clara, Singapore, Shenzhen, Beijing, Washington, Japan, Netherlands, ”, “

☆ Nvidia’s wild ride and induction into the $2 trillion market cap club in two charts
▼ + stars: | 2024-02-23 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Both companies later breached $3 trillion in market valuation, but, as of Friday, only Microsoft remains above it, at roughly $3.07 trillion. Apple's market cap stands at around $2.8 trillion. After more than tripling in 2023, Nvidia's stock has soared more than 60% already in 2024. In February alone, Nvidia's market cap has swelled by nearly $500 billion. At that time, Nvidia's market cap stood at $583.5 billion.

Persons: ChatGPT, —, Microsoft —, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Tom Williams Organizations: Nvidia, Apple, Microsoft, Exxon Mobil, Google, CNBC, CQ, Inc, Getty Locations: U.S

☆ Nvidia’s market value catapults to $2 trillion
▼ + stars: | 2024-02-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

New York CNN —Nvidia joined an exclusive club on Friday morning when its market value topped $2 trillion, just days after the chipmaker reported gangbusters earnings that once again swept Wall Street into an artificial intelligence-induced fervor. Nvidia’s latest achievement comes after the company earlier this month surpassed Amazon and Alphabet in market value and become the third-largest company on Wall Street behind Microsoft and Apple. The company hit a $1 trillion market cap in 2023, about 24 years after going public. Its meteoric growth over the past year came as artificial intelligence mania consumed Wall Street and helped power a ferocious bull market. Nvidia has emerged the poster child of AI on Wall Street, in part because it is crucial to the burgeoning AI space.

Persons: Howard Silverblatt, Dow, — CNN’s Clare Duffy Organizations: New, New York CNN, Nvidia, Dow Jones, Apple, Microsoft, Wall Street Locations: New York

☆ Nvidia CEO climbs billionaire list as company stock price skyrockets
▼ + stars: | 2024-02-22 | by ( Jennifer Korn | ) edition.cnn.com time to read: +3 min

CNN —Nvidia CEO Jensen Huang’s wealth saw a major boost on Thursday as the company he cofounded in 1993 surged in value. Huang, 61, is now worth an estimated $68.1 billion, passing Charles Koch and rapidly gaining on members of the Walton family, who own Walmart, which has a roughly $471 billion market cap. Huang has been at the helm of Nvidia since its beginning, serving as co-founder, CEO, president and board member. Shares of AMD (AMD) were 11% higher on Thursday and Microsoft (MSFT) rose 2%. But the company’s soaring stock price over the past year — shares grew around 230% in 2023 — means Nvidia is now deeply important to the broader market, too.

Persons: Jensen, Huang, Charles Koch, Walton, Elon Musk, Bernard Arnault, Jeff Bezos, Chris Malachowsky, Curtis Priem, Priem, Dan Morgan, Goldman Sachs, ” CNN’s Clare Duffy, Nicole Goodkind Organizations: CNN, Nvidia, Bloomberg, Walmart, Elon, Oregon State University, Stanford University, Devices, Wall Street, AMD, Microsoft, IBM, Synovus Trust Company, Google, Cisco Locations: Malachowsky

☆ Tech stocks surge as Nvidia bolsters optimism on Wall Street
▼ + stars: | 2024-02-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks soared higher on Thursday morning after a strong earnings report from tech giant Nvidia bolstered investor optimism on Wall Street. The S&P 500 hit a record high during morning trading on the pop in big tech and the Nasdaq is tracking towards a new all-time high as well. Nvidia (NVDA), one of the largest companies on Wall Street, led gains after reporting extraordinary earnings growth, fueled by the artificial intelligence boom. Profits of the chipmaker grew to nearly $12.3 billion in the three months ended January 28 — up from $1.4 billion in the year-ago quarter, a gain of 769% year-over-year and even stronger growth than Wall Street analysts had expected. Shares of the stock were 15.3% higher in morning trading, a reversal from earlier in the week when the company logged its worst day since October.

Persons: Jensen Huang Organizations: New, New York CNN, Dow, Nasdaq, Nvidia, Wall, Wall Street, AMD, Microsoft, Fed, Traders Locations: New York

Investors brace for “fireworks”The stock price of the chip giant Nvidia has marched steadily higher over the past year and a half, propelled by investors’ hopes that artificial intelligence is truly transformative technology — and by their hope that the company’s high-end semiconductors will continue to power that technology. But in recent days, the company became the third most valuable listed company in the U.S., only to slump back to fifth. Its shares will face another big test on Wednesday, when Nvidia announces its latest quarterly earnings, with billions in investor capital on the line. After seeing the stock more than double since May on the back of huge demand for Nvidia’s chips, investors are wondering if it’s close to peaking. Opinion on Wall Street appears divided: Bloomberg reports that options traders have piled into both put options, whose value rises as a stock’s price falls, and call options.

Persons: ’, Brace, ” Jim Reid Organizations: Nvidia, Bloomberg, Deutsche Bank Locations: U.S

☆ Premarket stocks: Is Nvidia too big to fail?
▼ + stars: | 2024-02-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors expect Nvidia to report earnings of $4.59 a share and $20.378 billion in revenue, up from just $6.05 billion a year before. Too big to fail: For the time being, Nvidia is the “most sophisticated and deployed” chipmaker in the world, and its output is one of national importance, said Newman. Capital One wants to be the biggest credit card company in America. If approved by regulators and shareholders, Capital One’s (COF) acquisition will create the biggest US credit card company by loan volume. Compared to other major credit card issuers, Capital One has historically catered to customers with credit scores in the 600s range, which is considered subprime.

Persons: “, ”, Daniel Newman, Newman, Jensen Huang, ” What’s, Sam Altman, Pat Gelsinger, Elisabeth Buchwald, Biden, Richard Fairbank, Fairbank, Samantha Delouya, Dow, Dow hasn’t Organizations: CNN Business, Bell, New York CNN, Nvidia, Wall, Microsoft, Apple, Investors, Intel, AMD, Discover Financial Services, Capital, Discover, Mastercard, Consumer Financial, Bureau, Walgreens, Dow Jones, Alliance, Dow Jones Industrial, Dow Jones Indices, Dow, Tesla Locations: New York, California, United States, China, Dubai, America

☆ SoundHound AI CEO talks Nvidia's $3.7 million investment
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoundHound AI CEO talks Nvidia's $3.7 million investmentKeyvan Mohajer, SoundHound AI CEO, joins 'Power Lunch' to discuss Nvidia’s $3.7 million investment in the company.

☆ AI boom drove Nvidia profits up 580% last year
▼ + stars: | 2024-02-21 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

That result helped bring the company’s full-year profits up more than 580% from the year earlier. Nvidia also posted fourth quarter revenue gains of 265% year-over-year, also exceeding analyst projections, as the company continues to ride the wave of massive AI investment. And US restrictions introduced last year on exports of advanced AI chips to China, which affected products like Nvidia’s H800 and A800 chips, threaten to choke off access to a massive and fast-growing market. Still, others on Wall Street believe the company still has plenty of room to run. “The outlook for Nvidia is positive as AI chip competition from Intel, AMD, Meta and Microsoft could be months away while demand for Nvidia chips is only surging,” Insider Intelligence senior analyst Gadjo Sevilla said in a note earlier this week.

Persons: Jensen Huang, Dan Morgan, Goldman Sachs, Nvidia’s, China “, ” Morgan, Gadjo Sevilla Organizations: New, New York CNN, Nvidia, Wall Street, IBM, Microsoft, Synovus Trust Company, Google, Cisco, Intel, AMD, Meta, ”, Intelligence Locations: New York, China

☆ Nvidia Says Growth Will Continue as A.I. Hits ‘Tipping Point’
▼ + stars: | 2024-02-21 | by ( Don Clark | ) www.nytimes.com time to read: +1 min

Nvidia, the kingpin of chips powering artificial intelligence, on Wednesday released quarterly financial results that reinforced how the company has become one of the biggest winners of the artificial intelligence boom, and it said demand for its products would fuel continued sales growth. Nvidia has become known as one of the “Magnificent Seven” tech stocks, which along with others like Amazon, Apple and Microsoft have helped power the stock market. Last week, the company briefly eclipsed the market values of Amazon and Alphabet before receding to the fifth-most-valuable tech company. Its stock market gains are largely a result of repeatedly exceeding analysts’ expectations for growth, a feat that is becoming more difficult as they keep raising their predictions. Revenue was well above the $20 billion the company predicted in November and above Wall Street estimates of $20.4 billion.

Organizations: Nvidia, Wednesday, Apple, Microsoft, Revenue

☆ The odds of no interest-rate cuts in 2024 are growing
▼ + stars: | 2024-02-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today’s big story, we’re looking at the chances of there being no rate cuts this year, and how the markets would react. What's on deck:This story is available exclusively to Business Insider subscribers. The big storyCuts are canceledAaron Schwartz/Xinhua via Getty ImagesDon't count your chickens before they hatch and don't price in your rate cuts before they materialize. Last December, Fed Chair Jerome Powell signaled that three cuts were on the table for 2024, which he reiterated earlier this month. AdvertisementBonds could struggle, though, with further delays on rate cuts raising the risk that debt markets suffer another meltdown like they did last fall.

Persons: —, Mark Zuckerberg, Aaron Schwartz, ”, won’t, Jerome Powell, Phil Rosen, There's, BI’s Yuheng Zhan, NYCB’s, Ark's Cathie Wood, Paul Judge, Tessa Flippin, Claude Grunitzky, Gayle Jennings O'Byrne, Black VCs, Masayoshi Son, OpenAI’s, Jenny Chang, Rodriguez, Vladimir Putin, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, UFC, Business, Xinhua, Getty, Federal, Paramount, Fed, Big Tech, JPMorgan Private Bank, Discover, Discover Financial, Nvidia, Opportunity, Equity Alliance, Wocstar Fund, Opportunity Fund, Equity Alliance Wocstar, Google, Walmart, Pandora, Home Locations: Japan, Ukraine, Moscow, Russia, Fox, New York, London, Chicago

☆ Wall Street just can't get enough of Nvidia
▼ + stars: | 2024-02-16 | by ( George Glover | Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Wall Street's excitement about Nvidia has reached a fever pitch as its valuation soars. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementExcitement on Wall Street about Nvidia is reaching a fever pitch after the chipmaker’s market value surpassed both Amazon and Google owner Alphabet this week. Nvidia is set to report its earnings for the final three months of 2023 on Wednesday. “If AI is the next industrial revolution, then absolutely we could see Nvidia’s valuation surge continuing,” Katherine Brooks of online broker XTB, told Business Insider.

Persons: Ray Dalio, Paul Tudor Jones, David Tepper, —, Ray Dalio’s, Kenneth Fisher’s Fisher, Jim Chanos, Steve Cohen’s Point72, It’s, Jensen, ” Katherine Brooks, XTB Organizations: Nvidia, Carolina Panthers, Service, Google, Traders, Reuters, Ray Dalio’s Bridgewater Associates, Kenneth Fisher’s Fisher Investments, Paul Tudor Jones ’ Investment Corp, Big Tech

☆ Nvidia is now worth more than Alphabet, one day after surpassing Amazon
▼ + stars: | 2024-02-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

Nvidia’s market capitalization rose to $1.83 trillion on Wednesday, nudging past Alphabet’s $1.82 trillion market cap. Shares of the Santa Clara-based chipmaker rose 2.5% to $739 a share, while Alphabet shares ended the session at $145.94. Earlier this week, Nvidia surpassed Amazon, closing with a higher market cap on Tuesday for the first time since 2002. Nvidia has been the biggest beneficiary of the AI mania dominating Wall Street. Most of the Magnificent Seven, the group of tech stocks that have led the bull market, have continued to race even higher this year with Nvidia leading the pack.

Persons: ”, Dave Sekera, “, Jensen Huang, There’s, ” Huang, ” CNN’s Gayle Harrington Organizations: New, New York CNN, Nvidia, Amazon, Big Tech, Morningstar, CNN, World Locations: New York, Santa Clara, Dubai

☆ What the latest inflation data means for interest rates
▼ + stars: | 2024-02-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at what a hotter-than-expected inflation report means for markets and the econom y . That silver lining doesn’t address the elephant in the room: What does the latest CPI data mean for interest rates? AdvertisementMadison Hoff/Noah Sheidlower/Business InsiderThe hot inflation report comes just a few weeks after some industry experts felt the market was in a perfect position. Stubbornly elevated inflation means Powell might be less willing to cut rates and risk further fueling inflation. It’s particularly painful for smaller companies, which tend to carry floating-rate debt more susceptible to elevated interest rates.

Persons: —, Angela Weiss, Insider’s Madison Hoff, BI’s Aruni Soni, Madison Hoff, Noah Sheidlower, we’ve, Jerome Powell, Powell, Jim Zelter, BI’s Yuheng Zhan, Alyssa Powell, Peter Thiel, bitcoin, Noah Berger Sam Altman’s, Jensen Huang, Altman's, Mark Zuckerberg, Jeff Bezos, Bezos, Rob Dobi, doomsayers, Brace, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, Dow Jones, Bank of America, Apollo Global Management, Federal Reserve Bank of New, BlackRock, Strategic Investors Group, BI, Fund, Reuters, Apple Vision, BI Sky, Employees, Cisco Systems, Sony, McLaren Locations: Federal Reserve Bank of New York, Dubai, Miami, Washington, New York, London

☆ Premarket stocks: Magnificent Six? Fab Five? Some say the Seven are getting a shakeup
▼ + stars: | 2024-02-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Is Wall Street’s favorite clique of tech stocks in need of a makeover? Most of the Magnificent Seven stocks have reclaimed their leadership of the market this year, with shares of Nvidia, Meta Platforms, Alphabet and Microsoft reaching record highs. Many investors are skeptical that the Magnificent Seven will match their blockbuster gains from 2023, even if they continue their leadership this year. Jim Worden, chief investment officer at the Wealth Consulting Group, says he believes the group should consolidate to the “Fab Five,” which he classifies as the Magnificent Seven minus Tesla and Apple. “There is a big leadership change underway in the Magnificent Seven stocks,” wrote Louis Navellier, chairman of Navellier & Associates, in a note on Tuesday.

Persons: Jim Worden, ”, Worden, Michael Hartnett, Jim Cramer, Louis Navellier, “, Nancy Tengler, It’s, Walt, Gina Lee, Samantha Delouya, Disney, Ron DeSantis, Diksha Madhok, ” TSMC, Joe Biden, ” Read Organizations: CNN Business, Bell, New York CNN, Nvidia, Meta, Microsoft, Apple, Wealth Consulting, Bank of America, Facebook, Netflix, Google, Federal Reserve, Micro Computer, Navellier, Associates, EV, Disney, Walt Disney World, Disney Vacation, Taiwan Semiconductor Manufacturing Company, Semiconductor Manufacturing, TSMC, US Locations: New York, China, American, Orlando , Florida, —, Florida, Japan Chip, Japan, Arizona

Soon after, an Amazon executive sent a private message to an executive at another company. He said Anthropic had won the deal because it agreed to build its A.I. Amazon, he wrote, wanted to create a viable competitor to the chipmaker Nvidia, a key partner and kingmaker in the all-important field of artificial intelligence. over the last year exposed just how dependent big tech companies had become on Nvidia. They have spent billions of dollars on Nvidia’s systems, and the chipmaker has not kept up with the demand.

Persons: Amazon, Anthropic Organizations: Amazon, Nvidia Locations: Anthropic, San Francisco

☆ Nvidia's Jensen Huang sheds his biker chic look to dance in a red floral vest during a visit to China
▼ + stars: | 2024-01-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewAs the cofounder and CEO of Nvidia, Jensen Huang is known for building the company into the world's leading AI chipmaker. AdvertisementNvidia CEO Jensen Huang visited the company's offices in Shanghai, Beijing, and Shenzhen last week, taking part in year-end festivities. He engaged in the traditional twist Yangge, a popular rural folk dance in northeast China, wearing a traditional flower-patterned vest. Huang's trip to China came amid intensifying rivalry between Washington and Beijing over a range of issues, including tech and geopolitics. The restrictions thrust Nvidia into a difficult position since China has typically accounted for about one-fifth of the company's revenue.

Persons: —, Jensen Huang, He's, Huang, SCMP, Nvidia’s, …, Biden Organizations: Service, Nvidia, Business, Business Insider, Bloomberg, China Morning Locations: China, Shanghai, Beijing, Shenzhen, Washington

☆ Nvidia is the stock of the year. Can it last?
▼ + stars: | 2023-12-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —It would be an understatement to say that it’s been a good year for Nvidia. The California-based chipmaking giant has seen its shares soar about 220% this year, making it the top performing S&P 500 stock in 2023. What’s happening: Just before Thanksgiving, Nvidia crushed doubts that its star was fading by reporting gangbuster third quarter earnings. By Sosnick’s count, Nvidia executives mentioned AI at least 70 times on their most recent earnings call. Historically, Nvidia has had hard falls after missteps — between 2021 and 2022, shares of the stock fell by 66%.

Persons: Hannah de Wolf, Colette Kress, There’s, ”, Steve Sosnick, we’ve, Nvidia …, Dan Ives, Goldman Sachs, Piper Sandler, Harsh Kumar, Sarat Sethi, DCLA, Sethi, it’s, missteps, hasn’t, Matt Egan, Robert Jackson Jr, Joshua Mitts, “, Mitts, it’s “, ” Mitts, Jackson, Catherine Cortez Masto, Biden, Cortez Masto, “ I’m, Todd Young, Tim Kaine, Mark Warner, Rand Paul, Mitch McConnell, Bill Hagerty, Marsha Blackburn ,, Joe Manchin, Roger Marshall, Katie Britt Organizations: CNN Business, Bell, New York CNN, Nvidia, Revenue, Nvidia can’t, Washington Service, Interactive, CNBC, Columbia University, New York University, Israel, Fund, SEC, NYU, …, CNN, US, EU, Indiana Locations: New York, California, China, Wedbush, Israel, Gaza, Columbia, Nevada, American, Virginia, Kentucky, Tennessee, Marsha Blackburn , West Virginia, Joe Manchin , Kansas, Alaska

☆ Nvidia’s Rivals Prepare Their AI Assault
▼ + stars: | 2023-12-04 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

AMD CEO Lisa Su has told investors that the company expects $2 billion in revenue from its new AI chips next year. Photo: robyn beck/Agence France-Presse/Getty ImagesNvidia was never going to have the artificial intelligence market all to itself. The past year has certainly made it seem that way, though. Nvidia’s sales have more than doubled—and its market value more than tripled—as major tech companies snapped up the company’s chips to capitalize on the explosive interest in generative AI sparked by the launch of the ChatGPT online chatbot a year ago. Intel and Advanced Micro Devices , two of Nvidia’s largest competitors, have seen their data-center sales shrink lately as the tech giants operating those networks have redirected their spending toward Nvidia’s specialized chip platforms.

Persons: Lisa Su, robyn beck Organizations: Agence France, Nvidia, Intel, Devices

As technology titans jockey to back hot new startups, they are extracting explicit or implicit promises of revenue in return. loadingMicrosoft’s injection of $10 billion into OpenAI in January helped kick off the craze. As part of their deal, the ChatGPT operator agreed to exclusively use its new investor’s cloud computing services. Much of the invested capital should be returned relatively quickly as AI firms buy back-end services. Nvidia (NVDA.O) has at least 80% and as much as 95% of the AI market, according to estimates by analysts.

Persons: Sam Altman, Satya Nadella, OpenAI, Optimists, cynics, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav, Streisand Neto Organizations: Reuters, Microsoft, Financial Times, Apple, Nasdaq, Big Tech, OpenAI, Wall Street, Google, Reuters Graphics Reuters, Cisco Systems, Lucent Technologies, Nortel Technologies, Company, Global, Telecom, Nortel, Network, Nvidia, Thomson Locations: OpenAI, Silicon Valley

☆ Nvidia C.E.O. Is Not Worried About Rising A.I. Industry Competition
▼ + stars: | 2023-11-29 | by ( Tripp Mickle | More About Tripp Mickle | ) www.nytimes.com time to read: +1 min

But Jensen Huang, the chief executive of Nvidia, said on Wednesday that he’s not worried about the rising competition. The machine, which was delivered five years later, changed the way computers worked, allowing them to generate sentences, images and videos. was not a chip problem. It’s a reinvention-of-computing problem,” Mr. Huang said, speaking at the DealBook Summit in New York. Every aspect of the computer has fundamentally changed.”Mr. Huang said that it will take time for competitors to catch up.

Persons: Jensen Huang, he’s, “, Mr, Huang, ” Mr Organizations: Nvidia Locations: New York

☆ Nvidia’s AI Boom Almost Blows Past Politics
▼ + stars: | 2023-11-22 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Jensen Huang, co-founder and chief executive officer of Nvidia, last month in Taipei. Photo: i-hwa cheng/Agence France-Presse/Getty ImagesNvidia rules the artificial intelligence world, but that world is getting a little smaller—and more crowded. The chip maker now synonymous with AI reported another quarter of blowout sales and earnings growth late Tuesday. Nvidia’s strong lead in the chips necessary to power generative AI technologies such as ChatGPT is also evident in its surging bottom line. Adjusted operating margins hit a record high of 64% in the fiscal third quarter ended October, far above the company’s average of 38% for the same quarter over the past five years.

Persons: Jensen Huang, hwa cheng Organizations: Nvidia, Agence France, Revenue Locations: Taipei

☆ CNBC Daily Open: Nvidia’s astounding earnings might not move markets
▼ + stars: | 2023-11-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia's revenue tripledNvidia's fiscal third-quarter revenue grew 206% year on year to $18.12 billion, handily beating expectations, and net income rocketed from $680 million to $9.24 billion. Moreover, Nvidia expects revenue for the current quarter to increase to $20 billion, an implied 231% growth. Fed officials also project economic growth in the fourth quarter to "slow markedly" from last quarter's 4.9% increase in gross domestic product.

Persons: Colette Kress, Binance's CZ, Changpeng Zhao, Richard Teng, Zhao Organizations: CNBC, Nvidia, Federal, Auto, European Union, European Automobile Manufacturers ' Association, Binance's, U.S . Department of Justice, Bank of America Locations: China

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