Despite concerns that the technology may be overhyped, chip giant Nvidia has achieved a new sales record, indicating that demand for artificial intelligence is still high. The most valuable corporation in the world, Nvidia, announced on Wednesday that its revenue for the three months ending in July was $46.74 billion, a 56 percent increase from the previous year.
Since the tech behemoth is sometimes regarded as a gauge of the AI boom, which has propelled the US stock market to an all-time high, Nvidia’s most recent earnings report was eagerly awaited. Jensen Huang, the CEO of Nvidia, stated that the company’s latest platform, Blackwell Ultra, was being produced “at full speed” and that the demand for its products was “unique.
After intense lobbying by Huang, the US President Donald Trump administration earlier this month overturned a ban on sales of Nvidia’s H20 chip, which was created especially for the Chinese market.
Although a recent edict by Beijing asking local enterprises not to do business with the company has hindered its prospects, the lifting of the restriction on the H20 increases the possibility that Nvidia could have tremendous untapped sales potential in the second-largest economy in the world.
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