AI boom boosts Nvidia despite 'geopolitical issues'

Nvidia's sophisticated chips have been an important part of the AI boom. On Wednesday it said demand for its products remains strong, especially from big tech firms including Instagram-owner Meta, and ChatGPT-maker OpenAI, as they race to build-out AI. "The AI race is now on," said Nvidia boss Jensen Huang in a call with analysts following the report's release, saying spending from four big tech firms had doubled to 600bn per year. "Over time, you would think that artificial intelligence would... accelerate GDP growth," Huang said. "Our contribution to that is a large part of the AI infrastructure." Colleen McHugh, chief investment officer at investment firm Wealthify, told the BBC's Today programme Nvidia was "at the heart of this AI boom".