Nvidia, the AI giant, is feeling the pressure as its stock takes a nosedive. Shares of Nvidia Corp have plummeted nearly 5% to their lowest point in almost five months. The reason? Reports suggest that the company may be forced to cancel up to $5 billion worth of advanced chip orders to China due to new US government restrictions.

US export rules hit Nvidia, stock hits 5-month low | World DNA

Chip maker Nvidia said that the new restrictions on the United States' ability to sell China its premium artificial intelligence processors went into force on Monday, a week after officials extended the deadline.&nbsp;

Reuters reported that the new export restrictions were set to take effect 30 days after the Biden administration announced plans to prevent nations like China, Iran, and Russia from obtaining cutting-edge artificial intelligence processors made by Nvidia and other companies on October 17.&nbsp;

According to a filing on Tuesday, Nvidia does not anticipate a short-term impact on its earnings from the change. However, the company did not provide an explanation for why the U.S. government expedited the timeline.&nbsp;

After launching its Gaudi 2 chip sales in China in July, Intel announced that it was "reviewing the regulations and assessing the potential impact."&nbsp;

The advanced AI chips A800 and H800 from Nvidia, which were both developed for the Chinese market in order to comply with prior export regulations, will not be exported anymore.&nbsp;

The limits also affect the Nvidia A100, H100, and L40S CPUs.&nbsp;

(With inputs from Reuters)&nbsp;

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Chip maker Nvidia said that the new restrictions on the United States' ability to sell China its premium artificial intelligence processors went into force on Monday, a week after officials extended the deadline.

Chip maker Nvidia said that the new restrictions on the United States' ability to sell China its premium artificial intelligence processors went into force on Monday, a week after officials extended the deadline. Reuters reported that the new export restrictions were set to take effect 30 days after the Biden administration announced plans to prevent nations like China, Iran, and Russia from obtaining cutting-edge artificial intelligence processors made by Nvidia and other companies on October 17. According to a filing on Tuesday, Nvidia does not anticipate a short-term impact on its earnings from the change. However, the company did not provide an explanation for why the U.S. government expedited the timeline. After launching its Gaudi 2 chip sales in China in July, Intel announced that it was "reviewing the regulations and assessing the potential impact." The advanced AI chips A800 and H800 from Nvidia, which were both developed for the Chinese market in order to comply with prior export regulations, will not be exported anymore. The limits also affect the Nvidia A100, H100, and L40S CPUs. (With inputs from Reuters) WATCH WION LIVE HERE

Nvidia claims the US advanced new export restrictions on AI chips: Report

Recent measures by the US aimed at restricting the export of advanced artificial intelligence (AI) chips to China could pave the way for Huawei Technologies to expand its presence in the $7 billion Chinese market, as Nvidia is compelled to step back, according to analysts.

According to Reuters, while Nvidia has traditionally held a dominant position in the Chinese AI chip market, with a market share exceeding 90 per cent, Chinese companies, including Huawei, have been working on developing their versions of Nvidia's best-selling chips, such as the A100 and H100 graphics processing units (GPUs).

Huawei's Ascend AI chips are considered comparable to Nvidia's in terms of raw computing power, though they currently lag in performance. The limitation for Chinese firms was their reliance on Nvidia's chips and software ecosystem. However, US restrictions could alter this dynamic, creating an opportunity for Huawei to establish a stronger foothold. Reuters quoted Jiang Yifan, chief market analyst at Guotai Junan Securities, as saying, "This US move, in my opinion, is actually giving Huawei's Ascend chips a huge gift."

While this opportunity presents itself, challenges remain. Many cutting-edge AI projects are built with CUDA, a popular programming architecture pioneered by Nvidia, which has created a vast global ecosystem capable of training sophisticated AI models. Huawei's alternative, CANN, is more limited in this regard. To win over clients in China, Huawei must replicate the ecosystem Nvidia has developed, including facilitating the transfer of data and models to its platform. Intellectual property rights, with many held by US firms, further complicate the situation.

If Huawei succeeds in capturing Nvidia's market share, it could register another victory against US export controls. Over the past year, Huawei has shown signs of resilience against these restrictions by introducing advanced products, including a smartphone chip and advancements in chip design tools. The company is also positioning itself as a key provider of computing power for AI. Huawei's partners in China, such as iFlyTek, have been working with the Ascend 910 to train AI models, demonstrating the potential of Huawei's AI offerings.

As Huawei pushes towards self-sufficiency, President Xi Jinping's championed agenda; it is likely to find support in its endeavours. This situation represents a disruption to near-term supplies but a significant boost to China's long-term self-sufficiency goals. While Nvidia has held a dominant ecosystem, analysts believe that given time and a substantial customer base, domestic players could surmount these challenges.

(With inputs from Reuters)

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Recent measures by the US aimed at restricting the export of advanced artificial intelligence (AI) chips to China could pave the way for Huawei Technologies to expand its presence in the $7 billion Chinese market, as Nvidia is compelled to step back, according to analysts.

Recent measures by the US aimed at restricting the export of advanced artificial intelligence (AI) chips to China could pave the way for Huawei Technologies to expand its presence in the $7 billion Chinese market, as Nvidia is compelled to step back, according to analysts. According to Reuters, while Nvidia has traditionally held a dominant position in the Chinese AI chip market, with a market share exceeding 90 per cent, Chinese companies, including Huawei, have been working on developing their versions of Nvidia's best-selling chips, such as the A100 and H100 graphics processing units (GPUs). Huawei's Ascend AI chips are considered comparable to Nvidia's in terms of raw computing power, though they currently lag in performance. The limitation for Chinese firms was their reliance on Nvidia's chips and software ecosystem. However, US restrictions could alter this dynamic, creating an opportunity for Huawei to establish a stronger foothold. Reuters quoted Jiang Yifan, chief market analyst at Guotai Junan Securities, as saying, "This US move, in my opinion, is actually giving Huawei's Ascend chips a huge gift." While this opportunity presents itself, challenges remain. Many cutting-edge AI projects are built with CUDA, a popular programming architecture pioneered by Nvidia, which has created a vast global ecosystem capable of training sophisticated AI models. Huawei's alternative, CANN, is more limited in this regard. To win over clients in China, Huawei must replicate the ecosystem Nvidia has developed, including facilitating the transfer of data and models to its platform. Intellectual property rights, with many held by US firms, further complicate the situation. If Huawei succeeds in capturing Nvidia's market share, it could register another victory against US export controls. Over the past year, Huawei has shown signs of resilience against these restrictions by introducing advanced products, including a smartphone chip and advancements in chip design tools. The company is also positioning itself as a key provider of computing power for AI. Huawei's partners in China, such as iFlyTek, have been working with the Ascend 910 to train AI models, demonstrating the potential of Huawei's AI offerings. As Huawei pushes towards self-sufficiency, President Xi Jinping's championed agenda; it is likely to find support in its endeavours. This situation represents a disruption to near-term supplies but a significant boost to China's long-term self-sufficiency goals. While Nvidia has held a dominant ecosystem, analysts believe that given time and a substantial customer base, domestic players could surmount these challenges. (With inputs from Reuters) WATCH WION LIVE HERE

US chip export restrictions open door for Huawei to gain ground in China's AI chip market

In a move to construct advanced data centres referred to as ‘AI Factories’, Foxconn, Taiwan's contract electronics manufacturer, and Nvidia, the world's leading chipmaker, have announced an innovative partnership. The collaboration aims to employ Nvidia's cutting-edge chips and software for a range of applications, with a focus on enhancing self-driving car technology.&nbsp;

According to a Reuters report, Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang unveiled this initiative at Foxconn's annual tech showcase in Taipei. The "AI factories" represent a novel paradigm in manufacturing, with the core mission of producing intelligence. "The data centres that produce it are AI factories," Huang said.&nbsp;

He went on to illustrate the concept with a hand-drawn sketch, highlighting how AI factories will continuously receive and process data from autonomous electric vehicles, thereby making them more intelligent. According to Reuters, he emphasised, "In the future, every company, every industry, will have AI factories."&nbsp;

Nvidia, a company whose shares have tripled in value in 2023, valued at over $1 trillion, will supply the chips and software for these AI factories. Notably, the new "GH200 superchip," renowned for its advanced capabilities, will play a pivotal role in these facilities. Unfortunately, due to recent export restrictions, Nvidia is unable to sell this superchip in China.&nbsp;

This announcement follows the revelation that export restrictions will also impact the sales of two high-end AI chips created for the Chinese market, along with one of their top-tier gaming chips. Nvidia's leadership in AI applications has been a key driver behind its market value's meteoric rise.&nbsp;

Foxconn, a major supplier of Apple's iPhones, aims to replicate its success in assembling personal computers and smartphones by expanding into the production of electric vehicles. Foxconn and Nvidia had previously announced a partnership in January, focusing on developing autonomous vehicle platforms. In this partnership, Foxconn's role involves manufacturing electronic control units (ECUs) for cars based on Nvidia's DRIVE Orin chip for the global market.&nbsp;

Liu Young-way, standing beside Jensen Huang, affirmed that Foxconn is undergoing a transformation from a manufacturing service company to a platform solution company. The applications for AI factories extend beyond self-driving cars, encompassing smart cities and smart manufacturing.&nbsp;

As part of its broader push into the electric vehicle sector, Foxconn introduced a new electric cargo van called Model N, marking its sixth prototype. While the company sets ambitious targets for this venture, it has thus far seen limited orders. Reuters cited Jun Seki, the head of Foxconn's EV business, who disclosed discussions with 14 potential customers in a bid to expand into markets such as India and Japan, considered promising for electric vehicle development.&nbsp;

In the near term, Foxconn aims to capture 5 per cent of the global electric vehicle market, equivalent to $33 billion in revenue from EV manufacturing and components by 2025. However, their long-term vision is even more ambitious: to produce nearly half of the world's electric vehicles.&nbsp;

Foxconn's Tech Day coincides with the birthday of its founder, Terry Gou, a billionaire who stepped down as the company's chief in 2019. Gou is currently running as an independent candidate for Taiwan's presidential elections in January and was conspicuously absent from the event, in contrast to the previous year when he drove onto the stage in a prototype electric vehicle.&nbsp;

Foxconn's stock experienced a minor dip of 0.9 per cent on the day of the announcement, in contrast to the broader market's 1.2 per cent decline.&nbsp;

(With inputs from Reuters)&nbsp;

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In a move to construct advanced data centres referred to as ‘AI Factories’, Foxconn, Taiwan's contract electronics manufacturer, and Nvidia, the world's leading chipmaker, have announced an innovative partnership.

In a move to construct advanced data centres referred to as ‘AI Factories’, Foxconn, Taiwan's contract electronics manufacturer, and Nvidia, the world's leading chipmaker, have announced an innovative partnership. The collaboration aims to employ Nvidia's cutting-edge chips and software for a range of applications, with a focus on enhancing self-driving car technology. According to a Reuters report, Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang unveiled this initiative at Foxconn's annual tech showcase in Taipei. The "AI factories" represent a novel paradigm in manufacturing, with the core mission of producing intelligence. "The data centres that produce it are AI factories," Huang said. He went on to illustrate the concept with a hand-drawn sketch, highlighting how AI factories will continuously receive and process data from autonomous electric vehicles, thereby making them more intelligent. According to Reuters, he emphasised, "In the future, every company, every industry, will have AI factories." Nvidia, a company whose shares have tripled in value in 2023, valued at over $1 trillion, will supply the chips and software for these AI factories. Notably, the new "GH200 superchip," renowned for its advanced capabilities, will play a pivotal role in these facilities. Unfortunately, due to recent export restrictions, Nvidia is unable to sell this superchip in China. This announcement follows the revelation that export restrictions will also impact the sales of two high-end AI chips created for the Chinese market, along with one of their top-tier gaming chips. Nvidia's leadership in AI applications has been a key driver behind its market value's meteoric rise. Foxconn, a major supplier of Apple's iPhones, aims to replicate its success in assembling personal computers and smartphones by expanding into the production of electric vehicles. Foxconn and Nvidia had previously announced a partnership in January, focusing on developing autonomous vehicle platforms. In this partnership, Foxconn's role involves manufacturing electronic control units (ECUs) for cars based on Nvidia's DRIVE Orin chip for the global market. Liu Young-way, standing beside Jensen Huang, affirmed that Foxconn is undergoing a transformation from a manufacturing service company to a platform solution company. The applications for AI factories extend beyond self-driving cars, encompassing smart cities and smart manufacturing. As part of its broader push into the electric vehicle sector, Foxconn introduced a new electric cargo van called Model N, marking its sixth prototype. While the company sets ambitious targets for this venture, it has thus far seen limited orders. Reuters cited Jun Seki, the head of Foxconn's EV business, who disclosed discussions with 14 potential customers in a bid to expand into markets such as India and Japan, considered promising for electric vehicle development. In the near term, Foxconn aims to capture 5 per cent of the global electric vehicle market, equivalent to $33 billion in revenue from EV manufacturing and components by 2025. However, their long-term vision is even more ambitious: to produce nearly half of the world's electric vehicles. Foxconn's Tech Day coincides with the birthday of its founder, Terry Gou, a billionaire who stepped down as the company's chief in 2019. Gou is currently running as an independent candidate for Taiwan's presidential elections in January and was conspicuously absent from the event, in contrast to the previous year when he drove onto the stage in a prototype electric vehicle. Foxconn's stock experienced a minor dip of 0.9 per cent on the day of the announcement, in contrast to the broader market's 1.2 per cent decline. (With inputs from Reuters) WATCH WION LIVE HERE

Foxconn and Nvidia collaborate to create 'AI factories' for self-driving cars  

Two industry giants, Foxconn and Nvidia, have come together to shape the future of self-driving cars and data processing. They're embarking on an ambitious journey to build 'AI factories' that will transform the landscape of artificial intelligence, and redefine the way we produce intelligence.

Foxconn and Nvidia's futuristic collaboration

US&nbsp;chip firm Nvidia and telecom-to-retail giant Reliance on Friday announced an AI partnership to create language models, generative apps and a cloud infrastructure platform for AI development in the South Asian nation.

Nvidia will provide the computing power required for the efforts, while Reliance unit Jio will manage and maintain the AI infrastructure and oversee customer engagement, the companies said.

"Reliance will create AI applications and services for their 450 million Jio (telecom) customers and provide energy-efficient AI infrastructure to scientists, developers and startups across India," Nvidia said.

Mukesh Ambani, the billionaire chairman of Reliance, has previously talked about the need of "digital infrastructure in India that can handle AI's immense computational demands".

Nvidia globally has a near-monopoly on the computing systems used to power services like ChatGPT, OpenAI's blockbuster generative AI chatbot. The AI powering such apps is known as a large language model because it takes in a text prompt and from that writes a human-like response.

The partnership will give Reliance access to the latest version of Nvidia's Grace Hopper Superchip, its AI chips that are optimised to perform AI inference functions that effectively power apps like ChatGPT.

Reliance said the new AI infrastructure will speed up a range of India's key AI projects, including chatbots, drug discovery, and climate research.

Neil Shah, a partner at Counterpoint Research, said the AI move is critical for Jio to "make sense" of the data it has from millions of users, and become a tech company providing services beyond telecom.

"The AI infra will enable it to provide accurate recommendations and cross sell products and services across its giant network of clients in retail, telecom, and financial space," he said.

Reuters on Friday exclusively reported that oil-to-retail conglomerate Reliance is also considering a foray into chip manufacturing in India.

Separately, India's Tata Group too is set to announce an AI partnership with Nvidia later during Friday, a source with direct knowledge of the matter told Reuters.

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US chip firm Nvidia and telecom-to-retail giant Reliance on Friday announced an AI partnership to create language models, generative apps and a cloud infrastructure platform for AI development in the South Asian nation.

US chip firm Nvidia and telecom-to-retail giant Reliance on Friday announced an AI partnership to create language models, generative apps and a cloud infrastructure platform for AI development in the South Asian nation. Nvidia will provide the computing power required for the efforts, while Reliance unit Jio will manage and maintain the AI infrastructure and oversee customer engagement, the companies said. "Reliance will create AI applications and services for their 450 million Jio (telecom) customers and provide energy-efficient AI infrastructure to scientists, developers and startups across India," Nvidia said. Mukesh Ambani, the billionaire chairman of Reliance, has previously talked about the need of "digital infrastructure in India that can handle AI's immense computational demands". Nvidia globally has a near-monopoly on the computing systems used to power services like ChatGPT, OpenAI's blockbuster generative AI chatbot. The AI powering such apps is known as a large language model because it takes in a text prompt and from that writes a human-like response. The partnership will give Reliance access to the latest version of Nvidia's Grace Hopper Superchip, its AI chips that are optimised to perform AI inference functions that effectively power apps like ChatGPT. Reliance said the new AI infrastructure will speed up a range of India's key AI projects, including chatbots, drug discovery, and climate research. Neil Shah, a partner at Counterpoint Research, said the AI move is critical for Jio to "make sense" of the data it has from millions of users, and become a tech company providing services beyond telecom. "The AI infra will enable it to provide accurate recommendations and cross sell products and services across its giant network of clients in retail, telecom, and financial space," he said. Reuters on Friday exclusively reported that oil-to-retail conglomerate Reliance is also considering a foray into chip manufacturing in India. Separately, India's Tata Group too is set to announce an AI partnership with Nvidia later during Friday, a source with direct knowledge of the matter told Reuters. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Nvidia, India's Reliance strike AI partnership for apps, language models

The US has imposed a restriction on the exports of sophisticated NVIDIA and&nbsp;Advanced Micro Devices (AMD) artificial intelligence (AI) chips to some countries in West Asia (Middle East), according to a Reuters report.&nbsp;After imposing a ban on China, West Asia has become the new target spot for the Biden administration.&nbsp;&nbsp;

According to a regulatory filing by NVIDIA, its state-of-the-art A100 and H100 chips, designed to speed up&nbsp;machine-learning tasks, have been put on the 'no-export' list.

"During the second quarter of fiscal year 2024, the USG (US government) informed us of an additional licensing requirement for a subset of A100 and H100 products destined to certain customers and other regions, including some countries in the Middle East," Nvidia said in a filing dated August 28.

The report stated that AMD also received a similar letter, informing about the restrictions. However, both companies have stated that the restrictions will have no "immediate material impact" on the revenue.&nbsp;

Usually, Washington imposes export controls for national security reasons. However, it wasn't immediately clear what risks were posed by exports to West Asia.&nbsp;

<a href="https://www.wionews.com/videos/micron-fails-chinas-security-check-594972">WATCH |&nbsp;Micron fails China's security check</a>

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<h2>China imposes sanctions&nbsp;</h2>

Notably, last month,&nbsp;China, much to the chagrin of the US, decided to impose export controls on two rare elements&nbsp;essential for the manufacturing of semiconductors.&nbsp;

Starting earlier this month,&nbsp;exports of gallium and germanium, among several other industrial compounds have been subject to restrictions.&nbsp;China’s Ministry of Commerce and Administration of Customs took the decision, laying it out that the exporters will have to seek special approval from the State Council, China's cabinet, for the listed items.&nbsp;

<a href="https://www.wionews.com/world/the-semiconductor-wars-china-restricts-exports-of-raw-materials-critical-to-chip-production-611607" target="_blank">Also read | The semiconductor wars: China restricts exports of raw materials critical to chip production</a>

<h2>Why the restrictions?</h2>

The chip wars between the two nations began under the tenure of former president Donald Trump when his administration banned suppliers from selling chips made using US technology to tech giant Huawei without a special license.

For years, the US led the technology battle with China. However, the scales have recently tipped in Beijing's favour. According to a study presented by the Special Competitive Studies Project (SCSP), the US could lose the tech competition to China if it does not take action on the 5G, AI, and microchip core fronts.&nbsp;

The report added that the tech race would be going through its critical phase in the 2025-2030 period. During this window, Beijing might be able to edge out the USA if the current trend continues.&nbsp;

(With inputs from agencies)

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The US has imposed a restriction on the exports of sophisticated NVIDIA and Advanced Micro Devices (AMD) artificial intelligence (AI) chips to some countries in West Asia (Middle East), according to a Reuters report.

The US has imposed a restriction on the exports of sophisticated NVIDIA and Advanced Micro Devices (AMD) artificial intelligence (AI) chips to some countries in West Asia (Middle East), according to a Reuters report. After imposing a ban on China, West Asia has become the new target spot for the Biden administration. According to a regulatory filing by NVIDIA, its state-of-the-art A100 and H100 chips, designed to speed up machine-learning tasks, have been put on the 'no-export' list. "During the second quarter of fiscal year 2024, the USG (US government) informed us of an additional licensing requirement for a subset of A100 and H100 products destined to certain customers and other regions, including some countries in the Middle East," Nvidia said in a filing dated August 28. The report stated that AMD also received a similar letter, informing about the restrictions. However, both companies have stated that the restrictions will have no "immediate material impact" on the revenue. Usually, Washington imposes export controls for national security reasons. However, it wasn't immediately clear what risks were posed by exports to West Asia. WATCH | Micron fails China's security check China imposes sanctions Notably, last month, China, much to the chagrin of the US, decided to impose export controls on two rare elements essential for the manufacturing of semiconductors. Starting earlier this month, exports of gallium and germanium, among several other industrial compounds have been subject to restrictions. China’s Ministry of Commerce and Administration of Customs took the decision, laying it out that the exporters will have to seek special approval from the State Council, China's cabinet, for the listed items. Also read | The semiconductor wars: China restricts exports of raw materials critical to chip production Why the restrictions? The chip wars between the two nations began under the tenure of former president Donald Trump when his administration banned suppliers from selling chips made using US technology to tech giant Huawei without a special license. For years, the US led the technology battle with China. However, the scales have recently tipped in Beijing's favour. According to a study presented by the Special Competitive Studies Project (SCSP), the US could lose the tech competition to China if it does not take action on the 5G, AI, and microchip core fronts. The report added that the tech race would be going through its critical phase in the 2025-2030 period. During this window, Beijing might be able to edge out the USA if the current trend continues. (With inputs from agencies) WATCH WION LIVE HERE:

After China, US curbs AI chip exports from NVIDIA and AMD to West Asian countries

Even as analysts applauded Nvidia's excellent second-quarter report, some investors were taken aback by the company's decision to buy back $25 billion of its shares after the stock had more than quadrupled this year. Nvidia's stock buyback has been ranked as the year's fifth-largest repurchase announcement among US-based corporations. Nvidia's share price has increased by over 220% in 2023, prompting investors to wonder why.

Nvidia's $25 BN buyback rattles investors

After the market’s closing bell on Wednesday, NVIDIA's shares surged by an impressive 6% in extended trading. The company has shattered estimates for its fiscal second quarter, while also sharing a highly optimistic outlook for the current period. The chipmaker reported earnings of $2.70 per share, surpassing the anticipated $2.09 per share according to Refinitiv. Revenue also exceeded predictions, with NVIDIA earning $13.51 billion compared to the estimated $11.22 billion. Net income skyrocketed from $656 million, or 26 cents per share, a year ago to an impressive $6.19 billion, or $2.48 a share, this quarter. Revenue doubled from the previous year to $6.7 billion, marking an 88% increase from the previous quarter.

NVIDIA’s Q2 beats expectations

US chip maker Nvidia far exceeded expectations with its quarterly revenue forecast on Wednesday as an artificial-intelligence boom spurred demand for its processors.

The chip maker also announced a $25 billion stock buyback, sending its shares surging after the results were announced.

Nvidia's better-than-expected earnings forecast suggests that the rise in generative AI technologies, which can read and write in human-like ways and are almost entirely driven by Nvidia's chips, show&nbsp;no signs of abating.

Nvidia's extra $25 billion in buybacks of shares announced came amid a four-fold increase its shares this year, which&nbsp;made Nvidia&nbsp;the first trillion-dollar semiconductor manufacturer.&nbsp;

Analysts believe that demand for Nvidia's coveted AI processors exceeds supply by at least 50 per cent and that the mismatch will persist for several quarters.

The chipmaker reported earnings of $2.70 per share surpassed&nbsp;the anticipated $2.09 per share, according to Refinitiv.

Nvidia revenue also exceeded predictions, with the chip maker earning&nbsp;$13.51 billion compared to the estimated $11.22 billion. On the other hand, the net income skyrocketed from $656 million, or 26 cents per share, a year ago to an impressive $6.19 billion, or $2.48 a share, this quarter.

Nvidia’s forward-looking forecast painted a bright picture for the ongoing quarter. The company has predicted&nbsp;revenue of approximately $16 billion, towering over the $12.61 billion Refinitiv had projected. This will be a 170 per cent increase from the same period last year.&nbsp;

Data centers, AI chips, and booming demand from cloud service providers and major internet players like Alphabet, Amazon, and Meta fueled Nvidia's data center business, raking in a whopping $10.32 billion, a 171 per cent leap from last year.

Nvidia also manufactures processors for advanced graphics applications. Year on year, that business fell 24 percent to $379 million. The firm recorded $253 million in automobile revenue, a 15 per cent increase over the previous year.

The gaming sector, which was previously Nvidia's core business, saw revenue rise by 22 per cent year on year to $2.49 billion, above the market expectation of $2.38 billion.&nbsp;

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US chip maker Nvidia far exceeded expectations with its quarterly revenue forecast on Wednesday as an artificial-intelligence boom spurred demand for its processors.

US chip maker Nvidia far exceeded expectations with its quarterly revenue forecast on Wednesday as an artificial-intelligence boom spurred demand for its processors. The chip maker also announced a $25 billion stock buyback, sending its shares surging after the results were announced. Nvidia's better-than-expected earnings forecast suggests that the rise in generative AI technologies, which can read and write in human-like ways and are almost entirely driven by Nvidia's chips, show no signs of abating. Nvidia's extra $25 billion in buybacks of shares announced came amid a four-fold increase its shares this year, which made Nvidia the first trillion-dollar semiconductor manufacturer. Analysts believe that demand for Nvidia's coveted AI processors exceeds supply by at least 50 per cent and that the mismatch will persist for several quarters. The chipmaker reported earnings of $2.70 per share surpassed the anticipated $2.09 per share, according to Refinitiv. Nvidia revenue also exceeded predictions, with the chip maker earning $13.51 billion compared to the estimated $11.22 billion. On the other hand, the net income skyrocketed from $656 million, or 26 cents per share, a year ago to an impressive $6.19 billion, or $2.48 a share, this quarter. Nvidia’s forward-looking forecast painted a bright picture for the ongoing quarter. The company has predicted revenue of approximately $16 billion, towering over the $12.61 billion Refinitiv had projected. This will be a 170 per cent increase from the same period last year. Data centers, AI chips, and booming demand from cloud service providers and major internet players like Alphabet, Amazon, and Meta fueled Nvidia's data center business, raking in a whopping $10.32 billion, a 171 per cent leap from last year. Nvidia also manufactures processors for advanced graphics applications. Year on year, that business fell 24 percent to $379 million. The firm recorded $253 million in automobile revenue, a 15 per cent increase over the previous year. The gaming sector, which was previously Nvidia's core business, saw revenue rise by 22 per cent year on year to $2.49 billion, above the market expectation of $2.38 billion. WATCH WION LIVE HERE

Nvidia ignites AI optimism with record results and $25 billion buyback

Nvidia shares hit an all-time high on Tuesday in a buildup in expectations over the quarterly results of the chip designer that has been the biggest beneficiary of a boom in artificial intelligence.

Nvidia hits record high as AI boom lifts bets on another strong forecast

Nvidia shares reached a new peak on Tuesday in anticipation of the chip designer's upcoming quarterly earnings report, reflecting its reliance on the artificial intelligence upswing. 
&nbsp; 
However, the stock experienced a decline of 1.1 per cent shortly after hitting the record high of $481.87 as trading commenced. This fleeting surge surpassed its previous peak of $480.88, achieved on July 14. 
&nbsp; 
Nvidia's shares have gained approximately 19 per cent after hitting a two-month low, driven by growing speculation that Nvidia's sales projections will once again exceed Wall Street estimates. 
&nbsp; 
Analysts cautiously predict that Nvidia, a dominant force in the market for chips essential to power generative AI services like ChatGPT and others, could unveil third-quarter sales totaling $12.50 billion. This projection represents a substantial 110 per cent increase from the previous year's figures. 
&nbsp; 
Reuters cited Dennis Dick, Triple D Trading's market structure analyst, saying, "It could be the most important earnings report of the year. We want to hear that they can build on the fantastic quarter they had last quarter." 
&nbsp; 
In May, the company predicted second-quarter revenue that exceeded expectations by over 50 percent, an outcome that catapulted its market valuation past $1 trillion. This achievement positioned it as the standout performer on the S&amp;P 500 index.&nbsp; 
&nbsp; 
Nvidia's remarkably positive projection from the previous quarter triggered a surge in AI-related stocks and their Big Tech counterparts. Consequently, it played a pivotal role in fueling this year's stock market upswing in the United States.

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During this month alone, at least 19 brokerage firms have revised their target price for Nvidia, culminating in a consensus estimate of $500. This represents a 6.5 percent escalation from the stock's most recent closing value. Notably, Nvidia's shares have quadrupled in value so far this year. 
&nbsp; 
According to a Monday report by Goldman Sachs, Nvidia experienced the most pronounced surge in hedge fund interest during the second quarter. 
&nbsp; 
"The Nvidia AI story is driving the market right now.&nbsp;If Nvidia fails to meet expectations, the market will suffer greatly," Danis Dick was quoted Reuters as saying.

(Inputs from Reuters)

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Nvidia shares reached a new peak on Tuesday in anticipation of the chip designer's upcoming quarterly earnings report, reflecting its reliance on the artificial intelligence upswing.

Nvidia shares reached a new peak on Tuesday in anticipation of the chip designer's upcoming quarterly earnings report, reflecting its reliance on the artificial intelligence upswing. However, the stock experienced a decline of 1.1 per cent shortly after hitting the record high of $481.87 as trading commenced. This fleeting surge surpassed its previous peak of $480.88, achieved on July 14. Nvidia's shares have gained approximately 19 per cent after hitting a two-month low, driven by growing speculation that Nvidia's sales projections will once again exceed Wall Street estimates. Analysts cautiously predict that Nvidia, a dominant force in the market for chips essential to power generative AI services like ChatGPT and others, could unveil third-quarter sales totaling $12.50 billion. This projection represents a substantial 110 per cent increase from the previous year's figures. Reuters cited Dennis Dick, Triple D Trading's market structure analyst, saying, "It could be the most important earnings report of the year. We want to hear that they can build on the fantastic quarter they had last quarter." In May, the company predicted second-quarter revenue that exceeded expectations by over 50 percent, an outcome that catapulted its market valuation past $1 trillion. This achievement positioned it as the standout performer on the S&P 500 index. Nvidia's remarkably positive projection from the previous quarter triggered a surge in AI-related stocks and their Big Tech counterparts. Consequently, it played a pivotal role in fueling this year's stock market upswing in the United States. During this month alone, at least 19 brokerage firms have revised their target price for Nvidia, culminating in a consensus estimate of $500. This represents a 6.5 percent escalation from the stock's most recent closing value. Notably, Nvidia's shares have quadrupled in value so far this year. According to a Monday report by Goldman Sachs, Nvidia experienced the most pronounced surge in hedge fund interest during the second quarter. "The Nvidia AI story is driving the market right now. If Nvidia fails to meet expectations, the market will suffer greatly," Danis Dick was quoted Reuters as saying. (Inputs from Reuters) WATCH WION LIVE HERE

AI boom helps Nvidia shares reach new peak ahead of quarterly results

The US chipmaking company Nvidia Corp on Tuesday entered the elite Wall Street Club as its market valuation breached $1 trillion.

The gaming and chipmaking company’s shares rose 3.8 per cent in trading before the bell on Tuesday, putting its value at $1.03 trillion, making it the first-ever chipmaking company to join the elusive club.

The shares of the firm, which makes graphics processing units (GPUs) that help power&nbsp;generative artificial intelligence&nbsp;platforms, soared after Nvidia said that the AI boom is translating into record sales, as it reported a quarterly profit of more than $2 billion and revenue of $7 billion, defying Wall Street expectations.

Rivalling Nvidia is Taiwan Semiconductor Manufacturing (TSMC), the next largest chipmaker globally, which is valued at about $535 billion.&nbsp;

Before Nvidia, Mark Zuckerberg-owned Meta Platforms Inc had briefly clinched the trillion-dollar market capitalisation milestone in 2021, before its stocks tumbled, and its valuation&nbsp;dwindled to about $670 billion as of its last close.

Fewer than 10 companies have achieved this milestone. Apple Inc, Alphabet Inc, Microsoft Corp and Amazon.com Inc are the other US companies that are part of the trillion-dollar club.

<h2>What does Nvidia do?</h2>

Nvidia primarily makes graphic cards and accounts for about 80 per cent of GPUs produced worldwide, Reuters news agency reported.

The chips are used to handle the math needed for AI computing. OpenAI's ChatGPT, for instance, was created with&nbsp;thousands of Nvidia AI-optimised GPUs.

A new wave of generative AI from the likes of OpenAI and Google has been a boon for Nvidia, which had its stock price jump more than 180 per cent so far this year.&nbsp;

The company pointed out last week that the rapid rise of AI technology propelled its earnings, and as a result, it reported a stronger-than-expected forecast for the second quarter, noting that it expects sales of about $11 billion compared with estimates of $7.15 billion.

On Monday, the company also made a series of announcements on new products, including&nbsp;a new supercomputer&nbsp;meant to help establish the next generation of AI applications.

<h2>Nvidia’s projections in 2024</h2>

For the second quarter of 2024, Nvidia has forecast&nbsp;$11 billion in sales, expecting 50 per cent higher sales than the consensus estimates of $7.15 billion.

The Reuters report noted that this forecast left Wall Street analysts astounded, with many labelling it as "unfathomable" and "cosmological."

Analysts rushed to increase their price targets for the company, with the highest valuation reaching around $1.6 trillion, placing Nvidia on par with Google-parent Alphabet.

Experts, however, have warned that a high valuation would create substantial pressure on Nvidia to consistently deliver strong growth, potentially resulting in share price volatility.

<h2>Nvidia’s shift from gaming</h2>

Historically, Nvidia has been associated with gaming, but that perception has changed recently. Nvidia's GPU&nbsp;plays a crucial role in generative AI platforms such as OpenAI's ChatGPT and Google's Bard.

The emergence of cryptocurrency mining and AI applications has disrupted the notion that GPUs are primarily for gaming, leading to a significant surge in share prices for GPU manufacturers and suppliers like Nvidia, AMD, and TSMC in recent months.

Intel, on the other hand, has been facing difficulties with inventory management and development hurdles. Since its primary aim has been to dominate the central processing unit (CPU) chip market, Intel has not been able to draw the same level of investor interest as GPU manufacturers have had amid the recent surge in demand for graphic cards, Reuters news agency reported.

Also, Nvidia’s foray into making chips for data centres is threatening Intel’s Advanced Micro Devices Inc's market dominance.

By showing that Nvidia’s processors can deftly handle massive AI workloads, the company has made quick inroads.

It’s now poised to overtake Intel in data centre sales — an unthinkable feat just a few years ago.

<h2>Nvidia's rise</h2>

The company was founded in 1993 by American-Taiwanese engineer Jen-Hsun "Jensen" Huang, initially a star in the video game world.

The Silicon Valley-based company has long been known for producing graphic cards that render high image quality and completely cut down response lag time for gamers.

Their GPUs have been known to deftly handle complex simulations, effectively making them superior to conventional computer chips when it comes to graphics, as well as the kind of processing involved with artificial intelligence.

"Nvidia has become synonymous with AI," independent tech analyst Rob Enderle told AFP news agency.

The company "has been investing in the AI boom for almost two decades. They saw an opportunity, and now everybody else is chasing it," he added.

The rise of Nvidia falls in stark contrast with that of other chipmakers, who are predicting a slowdown in the market this year, mainly due to lower demand for personal computers.

This trend has led to a sharp drop in Nvidia's video game revenues, but growth in AI-driven data centre activity has paused their slowdown.

(With inputs from agencies) 
 
&nbsp;

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The US chipmaking company Nvidia Corp on Tuesday entered the elite Wall Street Club as its market valuation breached $1 trillion. The gaming and chipmaking company’s shares rose 3.

The US chipmaking company Nvidia Corp on Tuesday entered the elite Wall Street Club as its market valuation breached $1 trillion. The gaming and chipmaking company’s shares rose 3.8 per cent in trading before the bell on Tuesday, putting its value at $1.03 trillion, making it the first-ever chipmaking company to join the elusive club. The shares of the firm, which makes graphics processing units (GPUs) that help power generative artificial intelligence platforms, soared after Nvidia said that the AI boom is translating into record sales, as it reported a quarterly profit of more than $2 billion and revenue of $7 billion, defying Wall Street expectations. Rivalling Nvidia is Taiwan Semiconductor Manufacturing (TSMC), the next largest chipmaker globally, which is valued at about $535 billion. Before Nvidia, Mark Zuckerberg-owned Meta Platforms Inc had briefly clinched the trillion-dollar market capitalisation milestone in 2021, before its stocks tumbled, and its valuation dwindled to about $670 billion as of its last close. Fewer than 10 companies have achieved this milestone. Apple Inc, Alphabet Inc, Microsoft Corp and Amazon.com Inc are the other US companies that are part of the trillion-dollar club. What does Nvidia do? Nvidia primarily makes graphic cards and accounts for about 80 per cent of GPUs produced worldwide, Reuters news agency reported. The chips are used to handle the math needed for AI computing. OpenAI's ChatGPT, for instance, was created with thousands of Nvidia AI-optimised GPUs. A new wave of generative AI from the likes of OpenAI and Google has been a boon for Nvidia, which had its stock price jump more than 180 per cent so far this year. The company pointed out last week that the rapid rise of AI technology propelled its earnings, and as a result, it reported a stronger-than-expected forecast for the second quarter, noting that it expects sales of about $11 billion compared with estimates of $7.15 billion. On Monday, the company also made a series of announcements on new products, including a new supercomputer meant to help establish the next generation of AI applications. Nvidia’s projections in 2024 For the second quarter of 2024, Nvidia has forecast $11 billion in sales, expecting 50 per cent higher sales than the consensus estimates of $7.15 billion. The Reuters report noted that this forecast left Wall Street analysts astounded, with many labelling it as "unfathomable" and "cosmological." Analysts rushed to increase their price targets for the company, with the highest valuation reaching around $1.6 trillion, placing Nvidia on par with Google-parent Alphabet. Experts, however, have warned that a high valuation would create substantial pressure on Nvidia to consistently deliver strong growth, potentially resulting in share price volatility. Nvidia’s shift from gaming Historically, Nvidia has been associated with gaming, but that perception has changed recently. Nvidia's GPU plays a crucial role in generative AI platforms such as OpenAI's ChatGPT and Google's Bard. The emergence of cryptocurrency mining and AI applications has disrupted the notion that GPUs are primarily for gaming, leading to a significant surge in share prices for GPU manufacturers and suppliers like Nvidia, AMD, and TSMC in recent months. Intel, on the other hand, has been facing difficulties with inventory management and development hurdles. Since its primary aim has been to dominate the central processing unit (CPU) chip market, Intel has not been able to draw the same level of investor interest as GPU manufacturers have had amid the recent surge in demand for graphic cards, Reuters news agency reported. Also, Nvidia’s foray into making chips for data centres is threatening Intel’s Advanced Micro Devices Inc's market dominance. By showing that Nvidia’s processors can deftly handle massive AI workloads, the company has made quick inroads. It’s now poised to overtake Intel in data centre sales — an unthinkable feat just a few years ago. Nvidia's rise The company was founded in 1993 by American-Taiwanese engineer Jen-Hsun "Jensen" Huang, initially a star in the video game world. The Silicon Valley-based company has long been known for producing graphic cards that render high image quality and completely cut down response lag time for gamers. Their GPUs have been known to deftly handle complex simulations, effectively making them superior to conventional computer chips when it comes to graphics, as well as the kind of processing involved with artificial intelligence. "Nvidia has become synonymous with AI," independent tech analyst Rob Enderle told AFP news agency. The company "has been investing in the AI boom for almost two decades. They saw an opportunity, and now everybody else is chasing it," he added. The rise of Nvidia falls in stark contrast with that of other chipmakers, who are predicting a slowdown in the market this year, mainly due to lower demand for personal computers. This trend has led to a sharp drop in Nvidia's video game revenues, but growth in AI-driven data centre activity has paused their slowdown. (With inputs from agencies) WATCH WION LIVE HERE

Explained: Nvidia’s road to trillion-dollar market valuation, entry in elite Wall Street Club  

US chipmaker Nvidia became a trillion dollar company aided by the boom in artificial intelligence. The chip maker became the only only the fifth company in history to reach this landmark yes it's a big milestone there before Nvidia only take Giants Apple, Alphabet, Microsoft and Amazon had crossed this Landmark these four companies continued to be worth over a trillion dollars.

US chipmaker Nvidia reaches $1 trillion milestone

Nvidia Corp's CEO Jensen Huang on Monday said that Artificial Intelligence has ended the 'digital divide' across the world. Speaking at the&nbsp;Computex forum in Taipei, Huang said that AI has ushered in a new era of computing, making it possible for anyone to become a programmer by simply speaking to a computer.

“Every single computing era you could do different things that weren’t possible before, and artificial intelligence certainly qualifies. Everyone is a programmer now – you just have to say something to the computer," he told the audience in Taipei.&nbsp;

Nvidia has rapidly emerged as the world's most valuable listed semiconductor company, owing to its pivotal role as a leading supplier of chips and computing systems for AI. The company's chips power a wide range of AI applications, including the popular language model ChatGPT, and have garnered immense demand from various industries. Most notably,&nbsp;Nvidia's AI chips have enabled companies like Microsoft to enhance their search engines, such as Bing, with human-like chat features.

With the programming barrier significantly lowered, the ease of use and accessibility of AI technology has contributed to its exponential progress. Huang confidently stated that the AI revolution would touch every industry, enabling businesses and individuals to achieve previously thought impossible feats, Reuters reported.

At the Taipei event, Huang showcased the capabilities of AI by demonstrating a program that composed a short pop song lauding Nvidia with minimal instruction. This example exemplified the potential for AI to generate creative and engaging content, capturing the audience's attention worldwide.

During his speech, Huang unveiled a series of innovative applications, including a strategic partnership with WPP, the world's largest advertising group. The collaboration aims to leverage generative AI-enabled content for digital advertising, providing advertisers with advanced tools to create captivating campaigns.

While the demand for Nvidia's AI chips continues to surge, the company has faced challenges in meeting this growing appetite. The scarcity of graphics processing units (GPUs), integral to AI systems, has drawn comparisons to the difficulty of acquiring illicit drugs. Nvidia is proactively addressing these supply chain challenges and ensuring that the market's hunger for AI chips is adequately satisfied.

(With inputs from Reuters)

Nvidia Corp's CEO Jensen Huang on Monday said that Artificial Intelligence has ended the 'digital divide' across the world. Speaking at the Computex forum in Taipei, Huang said that AI has ushered in a new era of computing, making it possible for anyone to become a programmer by simply speaking to a computer.

Nvidia Corp's CEO Jensen Huang on Monday said that Artificial Intelligence has ended the 'digital divide' across the world. Speaking at the Computex forum in Taipei, Huang said that AI has ushered in a new era of computing, making it possible for anyone to become a programmer by simply speaking to a computer. “Every single computing era you could do different things that weren’t possible before, and artificial intelligence certainly qualifies. Everyone is a programmer now – you just have to say something to the computer," he told the audience in Taipei. Nvidia has rapidly emerged as the world's most valuable listed semiconductor company, owing to its pivotal role as a leading supplier of chips and computing systems for AI. The company's chips power a wide range of AI applications, including the popular language model ChatGPT, and have garnered immense demand from various industries. Most notably, Nvidia's AI chips have enabled companies like Microsoft to enhance their search engines, such as Bing, with human-like chat features. With the programming barrier significantly lowered, the ease of use and accessibility of AI technology has contributed to its exponential progress. Huang confidently stated that the AI revolution would touch every industry, enabling businesses and individuals to achieve previously thought impossible feats, Reuters reported. At the Taipei event, Huang showcased the capabilities of AI by demonstrating a program that composed a short pop song lauding Nvidia with minimal instruction. This example exemplified the potential for AI to generate creative and engaging content, capturing the audience's attention worldwide. During his speech, Huang unveiled a series of innovative applications, including a strategic partnership with WPP, the world's largest advertising group. The collaboration aims to leverage generative AI-enabled content for digital advertising, providing advertisers with advanced tools to create captivating campaigns. While the demand for Nvidia's AI chips continues to surge, the company has faced challenges in meeting this growing appetite. The scarcity of graphics processing units (GPUs), integral to AI systems, has drawn comparisons to the difficulty of acquiring illicit drugs. Nvidia is proactively addressing these supply chain challenges and ensuring that the market's hunger for AI chips is adequately satisfied. (With inputs from Reuters)

AI Magic: Nvidia’s CEO says ‘anyone can become a Programmer’

Nvidia is now one of the five trillion dollar companies in the world. The Santa Clara, California-headquartered chipmaker became the first in the sector to achieve a $1 trillion market capitalisation on Tuesday.&nbsp;

The trillion-dollar market cap in recent days has been powered by enormous growth potential powered by artificial intelligence.

Nvidia joins Alphabet Inc., Amazon.com Inc., Apple Inc. and Microsoft Corp. in the elusive trillion-dollar club.

Only nine companies globally have ever achieved this level.

<h2>What led to Nvidia's $1 billion rise: The AI factor</h2>

In the last three months, Nvidia reported $2 billion in profit in its quarterly earnings.

Nvidia’s business got a boost after the demand for PC gaming and cryptocurrency mining went up during the Covid pandemic.

Artificial Intelligence powered Nvidia's rise, as CEO Jensen Huang showed an elevated potential for the company's data-centric growth.

<h2>Nvidia Computex 2023</h2>

Last weekend,&nbsp;Nvidia’s Computex 2023 keynote was full of Artificial Intelligence announcements. This included a demo of games using&nbsp;Avatar Cloud Engine (ACE) for Games to support natural language.

ALSO WATCH |&nbsp;Nvidia CEO on the AI revolution

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Nvidia Computex 2023 also included an announcement related to a&nbsp;new DGX GH200 supercomputer built around its latest Grace Hopper Superchip that is reported to be&nbsp;collectively capable of an exaflop of AI performance.

<h2>The $1 trillion group</h2>

Nvidia's&nbsp;valuation pushed past the trillion-dollar benchmark as trading opened on Tuesday&nbsp;at over $400 per share. The development has put the chipmaker&nbsp;into an exclusive club occupied by companies such as Apple and Microsoft.

The two&nbsp;surpassed the significant mark in August 2018 and August 2019, respectively. Amazon and Google are the other big tech&nbsp;stocks in the club.

Mark Zuckerberg's Meta is a former member.

Reuters reported Nvidia’s shares jumped around 25 per cent last week.

The premarket trading on Tuesday morning had the stock hitting up to $404.91, a gain of about four&nbsp;per cent, Bloomberg reported.

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Nvidia is now one of the five trillion dollar companies in the world. The Santa Clara, California-headquartered chipmaker became the first in the sector to achieve a $1 trillion market capitalisation on Tuesday.

Nvidia is now one of the five trillion dollar companies in the world. The Santa Clara, California-headquartered chipmaker became the first in the sector to achieve a $1 trillion market capitalisation on Tuesday. The trillion-dollar market cap in recent days has been powered by enormous growth potential powered by artificial intelligence. Nvidia joins Alphabet Inc., Amazon.com Inc., Apple Inc. and Microsoft Corp. in the elusive trillion-dollar club. Only nine companies globally have ever achieved this level. What led to Nvidia's $1 billion rise: The AI factor In the last three months, Nvidia reported $2 billion in profit in its quarterly earnings. Nvidia’s business got a boost after the demand for PC gaming and cryptocurrency mining went up during the Covid pandemic. Artificial Intelligence powered Nvidia's rise, as CEO Jensen Huang showed an elevated potential for the company's data-centric growth. Nvidia Computex 2023 Last weekend, Nvidia’s Computex 2023 keynote was full of Artificial Intelligence announcements. This included a demo of games using Avatar Cloud Engine (ACE) for Games to support natural language. ALSO WATCH | Nvidia CEO on the AI revolution × Nvidia Computex 2023 also included an announcement related to a new DGX GH200 supercomputer built around its latest Grace Hopper Superchip that is reported to be collectively capable of an exaflop of AI performance. The $1 trillion group Nvidia's valuation pushed past the trillion-dollar benchmark as trading opened on Tuesday at over $400 per share. The development has put the chipmaker into an exclusive club occupied by companies such as Apple and Microsoft. The two surpassed the significant mark in August 2018 and August 2019, respectively. Amazon and Google are the other big tech stocks in the club. Mark Zuckerberg's Meta is a former member. Reuters reported Nvidia’s shares jumped around 25 per cent last week. The premarket trading on Tuesday morning had the stock hitting up to $404.91, a gain of about four per cent, Bloomberg reported. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Artificial Intelligence powers Nvidia to $1 trillion market cap

NVIDIA corp. is on the verge of becoming the ninth company in history to reach a market value of $1 trillion, after a blowout forecast by the tech firm. NVIDIA's stock hit a record high on Thursday, riding high on the artificial intelligence boom.

NVIDIA close to becoming $1 trillion company

Riding high on the artificial intelligence boom, US chipmaker Nvidia Corp is on the verge of becoming the ninth company in history to reach a market value of $1 trillion.&nbsp;

Nvidia's stock hit a record high of nearly 26 percent on Thursday after its blowout forecast expected about $11 billion of sales between May and June 2023, which is well above market forecasts.

At one point on Thursday, the chipmaker's market worth increased by $199 billion to a record $955 billion, media reports said.&nbsp;

Meanwhile, traders betting against Nvidia suffered massive losses of $2.3 billion on the same day.&nbsp;

Nvidia's single-day market value increase of $163 billion is one of the largest in US history. In November 2022, Apple's stock rose $191 billion in a single day, while in February 2022, Amazon's stock rose by a little lower amount.

Thanks to Thursday's surge, Nvidia's stock is now up 161 percent this year on the promise that the company's chips will power the future of Artificial Intelligence (AI).

Since November 4, Nvidia is already the most-traded stock by retail traders, breaking Tesla's long-standing streak.&nbsp;

Nvidia's market value is double that of Taiwan's TSMC, the second-largest chip manufacturer in the world. Only Apple, Alphabet, Microsoft, and Amazon have higher market capitalizations in the United States.

Nvidia has become the darling of the Generative AI boom that started with the launch of OpenAI's ChatGPT in November last year.&nbsp;

Nvidia co-founder Jensen Huang's wealth surged roughly 23 percent by $6 billion to an approximate $34 billion on Thursday.&nbsp;

Huang's wealth has risen by 140 percent since the beginning of the year. If the stock surge continues, it will make him the biggest gainer among billionaires globally this year.

Huang, who is well known for his penchant for black leather jackets and a tattoo that mimics the Nvidia logo, co-founded the firm in 1993 and released the first Graphics Processing Unit (GPU) in 1999.

Riding high on the artificial intelligence boom, US chipmaker Nvidia Corp is on the verge of becoming the ninth company in history to reach a market value of $1 trillion.

Riding high on the artificial intelligence boom, US chipmaker Nvidia Corp is on the verge of becoming the ninth company in history to reach a market value of $1 trillion. Nvidia's stock hit a record high of nearly 26 percent on Thursday after its blowout forecast expected about $11 billion of sales between May and June 2023, which is well above market forecasts. At one point on Thursday, the chipmaker's market worth increased by $199 billion to a record $955 billion, media reports said. Meanwhile, traders betting against Nvidia suffered massive losses of $2.3 billion on the same day. Nvidia's single-day market value increase of $163 billion is one of the largest in US history. In November 2022, Apple's stock rose $191 billion in a single day, while in February 2022, Amazon's stock rose by a little lower amount. Thanks to Thursday's surge, Nvidia's stock is now up 161 percent this year on the promise that the company's chips will power the future of Artificial Intelligence (AI). Since November 4, Nvidia is already the most-traded stock by retail traders, breaking Tesla's long-standing streak. Nvidia's market value is double that of Taiwan's TSMC, the second-largest chip manufacturer in the world. Only Apple, Alphabet, Microsoft, and Amazon have higher market capitalizations in the United States. Nvidia has become the darling of the Generative AI boom that started with the launch of OpenAI's ChatGPT in November last year. Nvidia co-founder Jensen Huang's wealth surged roughly 23 percent by $6 billion to an approximate $34 billion on Thursday. Huang's wealth has risen by 140 percent since the beginning of the year. If the stock surge continues, it will make him the biggest gainer among billionaires globally this year. Huang, who is well known for his penchant for black leather jackets and a tattoo that mimics the Nvidia logo, co-founded the firm in 1993 and released the first Graphics Processing Unit (GPU) in 1999.

US chipmaker Nvidia on the brink of crossing $1 trillion market value

Nvidia Corp soared about 26% on Thursday taking it closer to a market value of $1 trillion after its stellar revenue forecast showed that Wall Street has yet to price in the game-changing potential of AI.

The surge added to a more than two-fold rise in the stock this year and was set to increase the chip designer's value by about $196 billion to nearly $951 billion, putting Nvidia on course for the largest single-day value gain for a U.S. firm.

That market capitalization makes Nvidia twice the size of the second-largest chip firm, Taiwan's TSMC. In the United States, it trails only the trillion-dollar value companies Apple Inc, Alphabet Inc, Microsoft Corp and Amazon.com Inc.

The rosy earnings also sparked a rally in the chip sector and for AI-focused firms, lifting stock markets from Japan to Europe. In the U.S., Big Tech companies other than Amazon rose between 0.7% and 3.5%, while Advanced Micro Devices Inc jumped 10%.

Analysts rushed to raise their price targets on Nvidia stock, with 27 lifting their view on the idea that all roads in AI lead to the company as it dominates the market for chips used to power ChatGPT and many similar services.

The mean price target has more than doubled this year. At the highest view, a $644.80 price target from Elazar Advisors, Nvidia will have a value of $1.59 trillion, around that of Alphabet.

"In the 15+ years we have been doing this job, we have never seen a guide like the one Nvidia just put up with the second-quarter outlook that was by all accounts cosmological, and which annihilated expectations," Stacy Rasgon of Bernstein said.

Nvidia, the fifth-most valuable U.S. company, on Wednesday projected quarterly revenue more than 50% above the average Wall Street estimate and said it would have more supply of AI chips in the second half to meet a surge in demand.

CEO Jensen Huang said $1 trillion worth of current equipment in data centers would have to be replaced with AI chips, as generative AI is applied into every product and service.

The results bode well for Big Tech companies, which have shifted focus to AI on hopes the technology would help attract demand at a time their profit engines of digital advertising and cloud computing are under pressure from a weak economy.

Some analysts said Nvidia's results show that the generative AI boom could be the next big driver of growth.

"We're really just seeing the tip of the iceberg. This really could be another inflection point in technological history, such as the internal combustion engine - or the internet," said Derren Nathan, head of equity analysis at Hargreaves Lansdown.

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Nvidia Corp soared about 26% on Thursday taking it closer to a market value of $1 trillion after its stellar revenue forecast showed that Wall Street has yet to price in the game-changing potential of AI.

Nvidia Corp soared about 26% on Thursday taking it closer to a market value of $1 trillion after its stellar revenue forecast showed that Wall Street has yet to price in the game-changing potential of AI. The surge added to a more than two-fold rise in the stock this year and was set to increase the chip designer's value by about $196 billion to nearly $951 billion, putting Nvidia on course for the largest single-day value gain for a U.S. firm. That market capitalization makes Nvidia twice the size of the second-largest chip firm, Taiwan's TSMC. In the United States, it trails only the trillion-dollar value companies Apple Inc, Alphabet Inc, Microsoft Corp and Amazon.com Inc. The rosy earnings also sparked a rally in the chip sector and for AI-focused firms, lifting stock markets from Japan to Europe. In the U.S., Big Tech companies other than Amazon rose between 0.7% and 3.5%, while Advanced Micro Devices Inc jumped 10%. Analysts rushed to raise their price targets on Nvidia stock, with 27 lifting their view on the idea that all roads in AI lead to the company as it dominates the market for chips used to power ChatGPT and many similar services. The mean price target has more than doubled this year. At the highest view, a $644.80 price target from Elazar Advisors, Nvidia will have a value of $1.59 trillion, around that of Alphabet. "In the 15+ years we have been doing this job, we have never seen a guide like the one Nvidia just put up with the second-quarter outlook that was by all accounts cosmological, and which annihilated expectations," Stacy Rasgon of Bernstein said. Nvidia, the fifth-most valuable U.S. company, on Wednesday projected quarterly revenue more than 50% above the average Wall Street estimate and said it would have more supply of AI chips in the second half to meet a surge in demand. CEO Jensen Huang said $1 trillion worth of current equipment in data centers would have to be replaced with AI chips, as generative AI is applied into every product and service. The results bode well for Big Tech companies, which have shifted focus to AI on hopes the technology would help attract demand at a time their profit engines of digital advertising and cloud computing are under pressure from a weak economy. Some analysts said Nvidia's results show that the generative AI boom could be the next big driver of growth. "We're really just seeing the tip of the iceberg. This really could be another inflection point in technological history, such as the internal combustion engine - or the internet," said Derren Nathan, head of equity analysis at Hargreaves Lansdown. WATCH WION LIVE HERE

Nvidia close to becoming first trillion-dollar chip firm after stellar forecast

Nvidia Corp (NVDA.O), the US&nbsp;semiconductor designer that dominates the market for artificial intelligence (AI) chips, said it has modified its flagship product into a version that is legal to export to China.

US regulators last year put into place rules that stopped Nvidia from selling its two most advanced chips, the A100 and newer H100, to Chinese customers citing national security concerns. Such chips are crucial to developing generative AI technologies like OpenAI's ChatGPT and similar products.

Reuters in November reported that Nvidia had designed a chip called the A800 that reduced some capabilities of the A100 to make the A800 legal for export to China.

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On Tuesday, the company said it has similarly developed a China-export version of its H100 chip. The new chip, called the H800, is being used by the cloud computing units of Chinese technology firms such as Alibaba Group Holding Ltd (9988.HK), Baidu Inc (9888.HK) and Tencent Holdings Ltd (0700.HK), a company spokesperson said.

"For the young startups, many of them who are building large language models now, and many of them jumping onto the generative AI revolution, they can look forward to Alibaba, Tencent and Baidu to have excellent cloud capabilities with Nvidia's AI," Nvidia Chief Executive Jensen Huang told reporters on Wednesday morning Asia time.

US regulators last fall imposed rules to slow China's development in key technology sectors such as semiconductors and artificial intelligence, aiming to hobble the country's efforts to modernize its military.

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The rules around AI chips imposed a test that bans those with both powerful computing capabilities and high chip-to-chip data transfer rates. Transfer speed is important when training artificial intelligence models on huge amounts of data because slower transfer rates mean more training time.

A chip industry source in China told Reuters the H800 mainly reduced the chip-to-chip data transfer rate to about half the rate of the flagship H100.

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The Nvidia spokesperson declined to say how the China-focused H800 differs from the H100, except that "our 800 series products are fully compliant with export control regulations."

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Nvidia Corp (NVDA.O), the US semiconductor designer that dominates the market for artificial intelligence (AI) chips, said it has modified its flagship product into a version that is legal to export to China.

Nvidia Corp (NVDA.O), the US semiconductor designer that dominates the market for artificial intelligence (AI) chips, said it has modified its flagship product into a version that is legal to export to China. US regulators last year put into place rules that stopped Nvidia from selling its two most advanced chips, the A100 and newer H100, to Chinese customers citing national security concerns. Such chips are crucial to developing generative AI technologies like OpenAI's ChatGPT and similar products. Reuters in November reported that Nvidia had designed a chip called the A800 that reduced some capabilities of the A100 to make the A800 legal for export to China. Also Read | Russia, China reach agreement on second Power of Siberia gas pipeline On Tuesday, the company said it has similarly developed a China-export version of its H100 chip. The new chip, called the H800, is being used by the cloud computing units of Chinese technology firms such as Alibaba Group Holding Ltd (9988.HK), Baidu Inc (9888.HK) and Tencent Holdings Ltd (0700.HK), a company spokesperson said. "For the young startups, many of them who are building large language models now, and many of them jumping onto the generative AI revolution, they can look forward to Alibaba, Tencent and Baidu to have excellent cloud capabilities with Nvidia's AI," Nvidia Chief Executive Jensen Huang told reporters on Wednesday morning Asia time. US regulators last fall imposed rules to slow China's development in key technology sectors such as semiconductors and artificial intelligence, aiming to hobble the country's efforts to modernize its military. Also Read | China approves its first mRNA vaccine, months after easing Covid restrictions The rules around AI chips imposed a test that bans those with both powerful computing capabilities and high chip-to-chip data transfer rates. Transfer speed is important when training artificial intelligence models on huge amounts of data because slower transfer rates mean more training time. A chip industry source in China told Reuters the H800 mainly reduced the chip-to-chip data transfer rate to about half the rate of the flagship H100. Watch | 'No winners in a nuclear war': Russia-China joint statement The Nvidia spokesperson declined to say how the China-focused H800 differs from the H100, except that "our 800 series products are fully compliant with export control regulations." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Nvidia tweaks flagship H100 chip for export to China amid US bans

Nvidia Chief Executive Officer Jensen Huang said that the burgeoning field of artificial intelligence will create powerful tools that require legal regulation and social norms that have yet to be worked out.

WION Fineprint: Are rules and regulations needed for AI?

U.S. chip maker Nvidia Corp said on Monday it is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China’s hands.

The new chip, called the A800, represents the first reported effort by a U.S. semiconductor company to create advanced processors for China that follow new U.S. trade rules. Nvidia has said the export limitations could cost it hundreds of millions of dollars in revenue.

Nvidia’s comments confirmed reporting by Reuters that Chinese computer sellers are advertising products with the new chip.

US&nbsp;regulations set in early October effectively banned export of advanced microchips and equipment to produce advanced chips by Chinese chipmakers, part of an effort to hobble China’s semiconductor industry and in turn the military.

In late August, Nvidia and Advanced Micro Devices Inc both said that their advanced chips, including Nvidia’s data center chip A100, were added to the export control list by the Commerce Department. The Nvidia A800 can be used in place of the A100, and both are GPUs, or graphics processing units.

Such advanced chips can cost thousands of dollars each.

“The Nvidia A800 GPU, which went into production in Q3, is another alternative product to the Nvidia A100 GPU for customers in China. The A800 meets the U.S. Government’s clear test for reduced export control and cannot be programmed to exceed it,” a Nvidia spokesperson said in a statement to Reuters.

At least two Chinese websites by major server makers offer the A800 chip in their products. One of those products previously used the A100 chip in promotional material.

A distributor website in China detailed the specifications of the A800. A comparison of the chip capabilities with the A100 shows that the chip-to-chip data transfer rate is 400 gigabytes per second on the new chip, down from 600 gigabytes per second on the A100. The new rules restrict rates of 600 gigabytes per second and up.

“The A800 looks to be a repackaged A100 GPU designed to avoid the recent Commerce Department trade restrictions,” said Wayne Lam, an analyst at CCS Insight, basing his comments on the specs shared by Reuters, and noting that eight is a lucky number in China.

“China is a significant market for Nvidia and it makes ample business sense to reconfigure your product to avoid trade restrictions,” said Lam.

Lam said the chip-to-chip communications abilities of the A800 represented a clear performance downgrade for a data center where thousands of chips are used together.

Major Chinese server makers Inspur and H3C which offer servers with the new chips did not respond to requests for comment. Neither did chip distributor OmniSky which posted the A800 specs online.

Nvidia has said that about $400 million worth of chip sales to China could be impacted in its fiscal third quarter ended in October due to the limits on high-end chips. Having a replacement chip could help lessen the financial blow.

Nvidia declined comment on whether it consulted the Commerce Department about the new chip. A Commerce Department spokesperson declined to comment.

U.S. chip maker Nvidia Corp said on Monday it is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China’s hands.

U.S. chip maker Nvidia Corp said on Monday it is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China’s hands. The new chip, called the A800, represents the first reported effort by a U.S. semiconductor company to create advanced processors for China that follow new U.S. trade rules. Nvidia has said the export limitations could cost it hundreds of millions of dollars in revenue. Nvidia’s comments confirmed reporting by Reuters that Chinese computer sellers are advertising products with the new chip. US regulations set in early October effectively banned export of advanced microchips and equipment to produce advanced chips by Chinese chipmakers, part of an effort to hobble China’s semiconductor industry and in turn the military. In late August, Nvidia and Advanced Micro Devices Inc both said that their advanced chips, including Nvidia’s data center chip A100, were added to the export control list by the Commerce Department. The Nvidia A800 can be used in place of the A100, and both are GPUs, or graphics processing units. Such advanced chips can cost thousands of dollars each. “The Nvidia A800 GPU, which went into production in Q3, is another alternative product to the Nvidia A100 GPU for customers in China. The A800 meets the U.S. Government’s clear test for reduced export control and cannot be programmed to exceed it,” a Nvidia spokesperson said in a statement to Reuters. At least two Chinese websites by major server makers offer the A800 chip in their products. One of those products previously used the A100 chip in promotional material. A distributor website in China detailed the specifications of the A800. A comparison of the chip capabilities with the A100 shows that the chip-to-chip data transfer rate is 400 gigabytes per second on the new chip, down from 600 gigabytes per second on the A100. The new rules restrict rates of 600 gigabytes per second and up. “The A800 looks to be a repackaged A100 GPU designed to avoid the recent Commerce Department trade restrictions,” said Wayne Lam, an analyst at CCS Insight, basing his comments on the specs shared by Reuters, and noting that eight is a lucky number in China. “China is a significant market for Nvidia and it makes ample business sense to reconfigure your product to avoid trade restrictions,” said Lam. Lam said the chip-to-chip communications abilities of the A800 represented a clear performance downgrade for a data center where thousands of chips are used together. Major Chinese server makers Inspur and H3C which offer servers with the new chips did not respond to requests for comment. Neither did chip distributor OmniSky which posted the A800 specs online. Nvidia has said that about $400 million worth of chip sales to China could be impacted in its fiscal third quarter ended in October due to the limits on high-end chips. Having a replacement chip could help lessen the financial blow. Nvidia declined comment on whether it consulted the Commerce Department about the new chip. A Commerce Department spokesperson declined to comment.

Nvidia offers new advanced chip for China that meets US export controls

To keep China at bay in the semiconductor competition, the Joe Biden administration is mulling another round of restrictions on the export of US semiconductor technology.

To keep China at bay in the semiconductor competition, the Joe Biden administration is mulling another round of restrictions on the export of US semiconductor technology. According to sources, the Commerce Department is expected to bring forth a package of rules to categorise which semiconductor technologies can be exported to China. Washington is expected to bring the sledgehammer on the export of advanced semiconductors and tools for logic and memory chip production that can be used for supercomputing and artificial intelligence. Additionally, the department will look to codify the previous guidance issued to specific companies. This is not the first time the US has moved to choke off Chinese firms' supply of chips. In 2020, former president Donald Trump's administration banned suppliers from selling chips made using US technology to tech giant Huawei without a special license. Lately, the Joe Biden government has also given signs regarding such restrictions. As reported by WION, the US officials in early September told NVIDIA to stop exporting two top computing chips for artificial intelligence work to China The move was aimed at crippling Chinese firms' ability to carry out advanced work like image recognition and advanced computing. Read more: US officials order Nvidia to halt sales of top AI chips to China Why the restrictions? For years, the US led the technology battle with China. However, the tips have recently scaled in Beijing's favour. As reported by WION, according to a study presented by Special Competitive Studies Project (SCSP), US could lose the tech competition to China if it does not take action on the 5G, AI, and microchip core fronts. The report added that the tech race would be going through its critical phase in the 2025-2030 period. During this window, Beijing might be able to edge out the USA if the current trend continues. Read more: China could pip USA in the tech war by the end of the decade: Report The “Mid-Decade Challenges to National Competitiveness” report further shed light on the fact that China has been making rapid advancements in the aforementioned core areas. It added that the USA has been playing catch-up on 5G and microelectronics supply chains. (With inputs from agencies) WATCH WION LIVE HERE:

The semiconductor wars: US to announce fresh chip export restrictions to China

In signs of growing tensions over global semiconductor war, chip designer Nvidia said that US officials ordered it to seize exporting two of its top computing chips for Artificial Intelligence work to China.

US orders Nvidia to stop chip sales in China

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