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