You are currently viewing Nvidia, Powered by A.I. Boom, Reports Soaring Revenue and Profits

The Silicon Valley company was again lifted by sales of its artificial intelligence chips, but it faces growing competition and heightened expectations.

Nvidia, which makes microchips that power most artificial intelligence applications, began an extraordinary run a year ago.

Fueled by an explosion of interest in A.I., the Silicon Valley company said last May that it expected its chip sales to go through the roof. They did — and the fervor didn’t stop, with Nvidia raising its revenue projections every few months. Its stock soared, driving the company to a more than $2 trillion market capitalization that makes it more valuable than Alphabet, the parent of Google.

On Wednesday, Nvidia again reported soaring revenue and profits that underscored how it remains a dominant winner of the A.I. boom, even as it grapples with outsize expectations and rising competition.

Revenue was $26 billion for the three months that ended in April, surpassing its $24 billion

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