After semiconductor giant NVIDIA released its quarterly revenue figures, which topped $26 billion for the first quarter, the company announced that it will not be slowing down its pace of development in the field of artificial intelligence.
The first-quarter earnings report, released on May 22, showed revenue up 18 percent from the previous quarter and up 262 percent from the same period last year, beating analysts' expectations of $24.6 billion.
NVIDIA's CFO emphasized: "These record results demonstrate our commitment to innovation and leadership in AI. We see tremendous opportunity for continued growth in the years ahead.
This success was reflected in NVIDIA's stock price, which reached a record high of just over $1,000 after the close of trading on May 22, pushing the company's market capitalization above $2.5 trillion. This result was even higher than the market capitalization of Tesla and Amazon combined, surpassing them by a factor of two and only 17% behind Apple, according to Cointelegraph.
NVIDIA's founder and CEO, Jensen Huang, emphasized that the company is poised for a new wave of growth as it begins production of its new Blackwell platform, which is designed to provide supercomputers with "trillion-parameter scale generative artificial intelligence."
It also noted a shift in its AI chip manufacturing strategy, moving to an annual rhythm of releasing new microchip architectures, starting with Blackwell, instead of the previous practice of having a new architecture about every two years.
Expanded partnerships with key players such as Amazon Web Services (AWS), Google Cloud, Microsoft, and Oracle are also part of NVIDIA's strategy to drive innovation in artificial intelligence.
In addition, NVIDIA announced new artificial intelligence gaming technologies, such as NVIDIA ACE and Neural Graphics, and hinted at further exploration and application of AI in the gaming industry to create a more immersive gaming experience.
NVIDIA's future plans are very ambitious and include expanding the use of artificial intelligence in automotive, robotics, healthcare, and semiconductor manufacturing.
The company expects its revenue for the second quarter of fiscal year 2025 to be $28.0 billion, +/-2%, which shows NVIDIA's confidence in continuing its successful journey in artificial intelligence technology.
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