{"id":83565,"date":"2023-08-25T11:33:17","date_gmt":"2023-08-25T08:33:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83565"},"modified":"2025-09-12T11:51:38","modified_gmt":"2025-09-12T08:51:38","slug":"nvidia-posts-record-profit-as-a-new-computer-era-begins","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nvidia-posts-record-profit-as-a-new-computer-era-begins\/","title":{"rendered":"Nvidia posts record profit as a new computer era begins"},"content":{"rendered":"<p>According to Nvidia&#8217;s results for the company&#8217;s second quarter of fiscal 2024, <span data-descr=\"earnings per share\" class=\"old_tooltip\">EPS<\/span> stood at $2.70 as revenue more than doubled from a year earlier to $13.5 billion. CEO Jensen Huang attributed the results to a sharp shift toward AI deployment<\/a>.<\/p>\n<p>Key metrics significantly exceeded analysts&#8217; expectations of $2.05 and $11.2 billion.<\/p>\n<p>Analysts&#8217; forecasts for revenue in the next three months were also too conservative \u2014 $12.6 billion versus $16 billion. In the current quarter the metric rose 88% QoQ and 101% YoY.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-554.webp\" alt=\"image-554\" class=\"wp-image-214348\"\/><figcaption class=\"wp-element-caption\">Data: Nvidia.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"326\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-556-1024x326.png\" alt=\"image-556\" class=\"wp-image-214355\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image-556-1024x326.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/image-556-300x95.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/image-556-768x244.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/image-556.png 1304w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: Finviz.<\/figcaption><\/figure>\n<\/div>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cA new computer era has begun. Companies worldwide are shifting from general-purpose to high-performance computing and generative AI. The race to deploy is on,\u201d<\/em> Huang explained the results.<\/p>\n<\/blockquote>\n<p>According to the executive, during the quarter the biggest cloud-service providers and enterprise IT systems and software vendors announced major investments in AI infrastructure.<\/p>\n<p>At the conference with analysts <span data-descr=\"chief financial officer\" class=\"old_tooltip\">CFO<\/span> Colette Kress<a href=\"https:\/\/finance.yahoo.com\/news\/nvidia-corporation-nasdaq-nvda-q2-151348854.html\"> promised<\/a>, that Nvidia would increase product shipments \u201cin the coming quarters.\u201d<\/p>\n<p>The positive Wall Street reaction to the GPU maker&#8217;s results sparked a fresh surge of enthusiasm around AI, which spilled over to AI-related tokens. The rise at one point ranged from 2% to 7%.<\/p>\n<p>Following profit-taking in Nvidia shares, prices of FET, GRT, INJ and RNDR tokens retraced some of their gains. As of writing, daily losses ranged from 3.7% to 5.5%.<\/p>\n<p>Britain&#8217;s authorities<a href=\"https:\/\/u1f987.com\/en\/news\/britain-to-spend-130m-on-ai-chips\"> will allocate 100 million GBP<\/a> (~$130 million) to purchase AI-processing chips used to handle AI tasks.<\/p>\n<p>Earlier, Intel CEO Pat Gelsinger said the plan to embed<a href=\"https:\/\/u1f987.com\/en\/news\/intel-ceo-signals-plan-to-embed-ai-in-every-product\"> AI<\/a> in every product created by the company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nvidia&#8217;s earnings per share for the second quarter of fiscal 2024 came in at $2.70. CEO Jensen Huang attributed the results to a sharp shift toward AI adoption.<\/p>\n","protected":false},"author":1,"featured_media":83566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,1294,1252,1211],"class_list":["post-83565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-nvidia","tag-reports","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=83565"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83565\/revisions"}],"predecessor-version":[{"id":83567,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83565\/revisions\/83567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83566"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}