Nvidia Reports Huge Data Center Business Boom, Stock Is Jumping
Nvidia CEO Jen-Hsun Huang (Photo credit: Patrick T. Fallon/Bloomberg) Nvidia’s move into becoming an artificial intelligence juggernaut relentlessly keeps powering ahead. In third quarter earnings published Thursday, the Santa Clara, Calif.-based chipmaker reported third quarter revenue of $2 billion (vs. $1.69 billion estimate), up 54% year-over-year, and earnings of 83 cents per share (vs. 57 cents estimate), up 89% from the previous year. Nvidia’s graphics processors are mostly used to power the latest gaming graphics, but are increasingly being used to run intensive artificial intelligence software in the data center and in autonomous vehicles. The latest earnings show its AI business is growing stronger than anyone expected. Its data center business is on fire, growing to $240 million, up 193% from the previous year. Its automotive business grew 61% year-over-year to $127 million. Its…
Link to Full Article: Nvidia Reports Huge Data Center Business Boom, Stock Is Jumping
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