By our economics editors
Feb 22, 2024 at 4:20 PM Update: 3 days ago
Chip company NVIDIA increased its value by around $200 billion on the New York stock exchange on Thursday. Investors are excited about the results of the world’s leading player in chips used for artificial intelligence (AI).
The stock rose about 12 percent after the opening bell on Wall Street. NVIDIA broke records last quarter. The group saw turnover increase by 265 percent compared to a year earlier.
According to CEO Jensen Huang, NVIDIA is taking full advantage of the high demand for faster computers and AI applications. “Demand is increasing worldwide in all kinds of companies, sectors and countries.” Significantly more money came in, especially in the data center branch.
Quarterly revenues were $22.1 billion. That is 22 percent more than in the previous three months, when record turnover was also reported. NVIDIA also posted a quarterly profit of $12.3 billion. That is a third more than a quarter earlier.
Image: EPA
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