Let us discuss that
Nvidia Corporation is a technology company.
It known for designing and manufacturing graphics processing units (GPUs).
Nvidia is expected to benefit from the proliferation of AI.
Nvidia (NASDAQ:NVDA) stock soar 27% on 25 May 2023
AI is only in its beginning stages
Nvidia chips are being used in data centers and gaming companies
The plan includes partnerships and new products.
In March 2023, Nvidia announced various initiatives to broaden its reach in AI.
Stronger-than-expected forecast for the first-quarter earnings for its fiscal 2024
Nvidia CEO Jensen Huang said the company was seeing “surging demand” for its data center products
Nvidia’s data center group reported $4.28 billion in sales, versus expectations of $3.9 billion, a 14% annual increase.
Nvidia’s gaming division reported a 38% drop in revenue to $2.24 billion in sales.
Large consumer internet companies use Nvidia chips to train and deploy generative AI applications like OpenAI’s ChatGPT.
EPS: $1.09, adjusted
Revenue: $7.19 billion
Mkt Cap US$963 B
P/E is 223.82 which is high
AI chip market is expected to generate over $227 billion in annual revenue by 2032
From the current value at USD 6.86 billion in 2022 with a CAGR of 30% during this period
AI chips are becoming increasingly important for cloud providers and data centre
The boom in artificial intelligence chatbots has been on the rise
The boom chatGPT and other such AI tools has led to a sharp rise in demand for artificial intelligence semiconductors.
AI chip market is yet to reach its full potential.
There is lot of market potential for Nvidia to capture worldwide.
With AI chips growth opportunity, Nvidia is likely to get significant benefits.
One can invest in Nvidia Stock for long term at dip
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