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” - 2 Colette Kress - 2 “ - 2 ” Kress - 2 Zakaria - 1 Jensen Huang - 1 Huang - 1 Jacob Bourne - 1
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☆ Nvidia’s quarterly sales double on the back of AI boom
  + stars: | 2023-08-23 | by ( Clare Duffy Samantha Delouya | Clare Duffy | Samantha Delouya | ) edition.cnn.com   time to read: +3 min
New York CNN —The artificial intelligence boom continues to fuel a blockbuster year for chipmaker Nvidia. Nvidia expects revenue to be even higher in the current quarter: forecasting revenue of $16 billion for its fiscal third quarter. Nvidia’s stock has climbed by just over 220% since the start of this year amid a surge in the popularity of and demand for artificial intelligence technology. The American chipmaker produces processors that power generative AI, technology that can create text, images and other media — and which forms the foundation of buzzy new services such as ChatGPT. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” Nvidia CEO Jensen Huang said in a statement, adding that the company is working with “Leading enterprise IT system and software providers … to bring NVIDIA AI to every industry.”“The race is on to adopt generative AI,” he said.
Persons: Zakaria, ”, Colette Kress, Jensen Huang, Huang, Jacob Bourne, “, ” Kress Organizations: CNN, Intelligence, New, New York CNN, Nvidia, Santa, Wall, Companies, NVIDIA, ” Locations: New York, Santa Clara , California
☆ Nvidia says US curbs on AI chip sales to China would cause ‘permanent loss of opportunities’
  + stars: | 2023-06-29 | by ( Laura He | ) edition.cnn.com   time to read: +4 min
Hong Kong CNN —Nvidia warned Wednesday that if the United States imposes new restrictions on the export of AI chips to China, it would result in a “permanent loss of opportunities” for US industry. The rules, as reported, could make it harder for companies like Nvidia (NVDA) to sell advanced chips to China. Fueled by a boom in demand for its AI chips, the company briefly hit a market capitalization of $1 trillion in late May. We do not anticipate any immediate material impact on our financial results,” Kress added. Chinese AI stocks suffered much heavier losses.
Persons: Colette Kress, “, ” Kress, ”, Biden, ” Jefferies Organizations: Hong Kong CNN, Nvidia, Wall Street, Financial Times, US Department of Commerce, CNN, Bloomberg, Chengdu Information Technology, Chinese Academy of Sciences, Baidu, Biden, Micron Technology Locations: Hong Kong, United, China, Washington, Shenzhen, Chengdu, ChatGPT, Beijing
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