AI Chips Are Set To Rule

With Its Soaring Quarterly Sales Estimates, NVIDIA Proves It Again That AI Is The New Language

Nvidia’s $13.5 billion in sales and $2.45 earnings per share last quarter smashed consensus analyst estimates of $11.2 billion and $2.08, according to FactSet.

Image: https://www.forbes.com/sites/dereksaul/2023/08/23/nvidia-earnings-stock-soars-as-ai-giant-again-smashes-quarterly-expectations/?sh=197bb4c229f7

With the chipmaker’s AI business, NVIDIA’s sales estimates jump to 170% this quarter. Nvidia’s performance has been driven by its data center business, which includes AI chips needed for Artificial Intelligence and Generative AI applications like ChatGPT.

NVIDIA’s market capitalization has reached to nearly $1.2 trillion, making it one of the six companies in the world worth more than $1 trillion, joining Apple, Microsoft, Saudi Aramco, Alphabet and Amazon.

This is the power of technology. With tremendous advancements going on in the AI and Machine Learning domains, we are to witness even higher numbers in the years to come.

It is equally important to diversify your area of expertise, just like this AI giant. NVIDIA’s estimates rallied with a contrast to its gaming division, which was its core business when the company first started operating. Gaming revenues have gone down by 20% this year.

It’s true that AI will cause many jobs to go obsolete. However, the fact that even more and interesting jobs will be created will be an era to cherish. Be a part of this technological revolution.