Game graphics card inventory cleared without price reduction! NV stock price soars ChatGPT Fire GPU: Lao Huang speaks domineeringly
ChatGPT has brought artificial intelligence, and as a beneficiary, NVIDIA’s small life is much more comfortable. While making money, the company’s stock price is also soaring.
NVIDIA released its latest quarterly financial report on February 22 local time, and the company’s stock price rose more than 8% in after-hours trading. NV forecast revenue of $6.5 billion in the first quarter of this year, topping Wall Street expectations.
Subsequently, the company’s stock price soared by 14%, and in addition to the above-mentioned factors in the financial report, it was still related to inventory.
According to NV, the game graphics card inventory crisis has basically ended.
Since ChatGPT drives the popularity of artificial intelligence chips, the market pays close attention to the performance of Nvidia AI chips. According to the financial report for the fourth quarter of last year, NV’s data center revenue including AI chips increased by 11% year-on-year to US$3.62 billion.
NV Chief Financial Officer Colette Kress said on the earnings conference call that for now, the decline in performance caused by inventory adjustments is “largely over” and that demand in most regions is stable.
Jensen Huang said on an earnings call with investment analysts that artificial intelligence is at an “inflection point,” prompting companies of all sizes to buy NV chips to develop machine learning software. “The versatility and amazing capabilities of generative AI have created a sense of urgency for global companies to develop and deploy AI strategies,” said Jensen Huang.
Huang Renxun also announced a new service of the company in the conference call. In the future, NV will directly provide cloud computing services to enterprises. Enterprises can develop their own generative AI services based on Nvidia’s cloud technology by renting. According to reports, these services can create text, images and other forms of data.