Bubbles, what bubbles? Jensen Huang, CEO of Nvidia, the world leader in microprocessors for artificial intelligence (AI), took the win on Wednesday, November 19, following the announcement of the American company’s quarterly results: “There’s a lot of talk about an AI bubble. From our perspective, we see it in a very different way,” he said at a financial conference. “Demand for computing power continues to grow and expand… We have entered the virtuous circle of AI. (He) the ecosystem is growing rapidly… AI is everywhere, it does everything simultaneously. »
Nvidia’s revenue in the third quarter was $57 billion (€49.5 billion), up 62% from the same period a year earlier, while net profit was $32 billion.
These figures, higher than Wall Street’s expectations, caused the title of the world’s most valuable company (around $4.6 trillion) to jump more than 5% in informal post-close trading. This news brings relief to markets that have been wondering for several weeks about whether or not an AI bubble exists. On Wednesday, the Nasdaq (tech-heavy) and S&P 500 indexes rose 1.6% and 1.1%, respectively, in after-hours trading.
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