NVIDIA Corporation NVDA is expected to be the fifth publicly traded company valued at $1 trillion apple inc AAPL, microsoft corp MSFT, alphabet inc GOOGL And Amazon.com, Inc (NASDAQ: AMZN Thanks to the artificial intelligence revolution.
On Thursday, Nvidia shares are up 24% after it announced its financial results for the first quarter. The company reported first-quarter earnings of $1.09 per share and offered second-quarter revenue guidance of $11 billion, nearly $4 billion higher than the consensus of $7.15 billion -Dollar.
“When generative AI came out, it triggered a killer app for this computing platform that had been in the pipeline for some time,” Nvidia CEO said Jensen Huang said loudly The Wall Street Journal.
“We’re seeing incredible orders to convert the world’s data centers,” added Huang.
On Thursday, the company increased its market valuation by $183.8 billion, taking its total value to over $938 billion and slowly making its way to becoming one of the trillion-dollar companies in the world.
Using AI, Nvidia’s processors drive new chatbots that generate persuasive-sounding sentences, as well as a host of other tools that the world’s largest companies are racing to deploy, The Wall Street Journal reported.
“This will be the biggest technological change we’ve seen since the internet; I have little doubt.” Michael SansoterraAtlanta-based Silvan Capital Management’s chief investment officer told the publication.
“What’s so exciting for investors now is that after months of talk about AI, the money is now starting to flow,” he added.
“What’s different from generative AI is that there are clear uses for the technology as companies look for ways to leverage its capabilities.” Stacy Rasgona chip industry analyst at Bernstein Research told the Wall Street Journal….
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