Nvidia CEO Jensen Huang said AI would drive long-term demand because it is the "single most powerful force of our time." Nvidia reported earnings and revenues that beat analysts' expectations as demand for graphics and artificial intelligence chips picked up in the second fiscal quarter. Huang also said his company's near-term growth will come from gaming and a couple of variants of the company's artificial intelligence chip business: inferencing and AI at the edge. During a conference call with analysts, Huang said artificial intelligence is the "single most powerful force of our time" and that there are more than 4,000 AI startups working with the company -- as compared to 2,000 AI startups in April 2017. In an interview with VentureBeat, Huang said the actual number of AI startups Nvidia is tracking is closer to 4,500.
Nvidia reported earnings that beat expectations and showed that the company's focus on artificial intelligence is still paying off. For the past decade, Nvidia has been rising above graphics chips for gamers, expanding to parallel processing in data centers and lately to artificial intelligence processing for deep learning neural networks and self-driving cars. The company reported earnings per share of $1.33 (up 60 percent from a year ago) on revenue of $2.6 billion (up 32 percent), beating Wall Street's expectations. The company's stock price is up more than 100 percent in the past year on the popularity of artificial intelligence. But it slumped during the day on Thursday, along with the broader market.
Nvidia CEO Jensen Huang proudly proclaimed on an analyst earnings call this week that artificial intelligence is the "single most powerful force of our time." Nvidia reported Q2 earnings and revenues that beat analysts' expectations as demand for graphics and artificial intelligence chips picked up. After the earnings call, I interviewed Huang about the company's progress. During the analyst call, he said there are more than 4,000 AI startups working with the company -- as compared to 2,000 AI startups in April 2017. In our interview, Huang said the actual number of AI startups Nvidia is tracking is closer to 4,500.
Roundup Here's your quick roundup of AI news beyond what we've already written about this week. Crypto-mining is bust for Nvidia: Nvidia reported strong growth in its second quarter financial results, emitted this week, in areas expected like the data center and gaming – but not for cryptocurrency mining. The demand for GPUs grew 40 per cent from last year to account for $2.66bn in sales, we're told. Popular online titles such as Fortnite and PUBG have helped Nvidia in the gaming department, which grew 52 per cent in terms of revenue to $1.8bn. The boom in deep learning is also accelerating its data center business by 83 per cent, to $760m, where its graphics cards are used as math accelerators.
Nvidia Corporation is a U.S.-based technology company that designs and manufactures graphics processing units for the gaming and professional markets, as well as system on a chip units for the mobile computing and automotive market. Besides gaming, professional visualization, data centers and auto, Nvidia is now also focused on artificial intelligence. CEO: Jensen Huang (Apr 1993–) Headquarters: Santa Clara, CA Revenue: 9.714 billion USD (2017) Founders: Jensen Huang, Curtis Priem, Chris Malachowsky Tweets by NVIDIAGeForce feedback & comments via twitter @DomainMondo Follow @DomainMondo DISCLAIMER