About Cloud Computing
Cloud computing is the on-demand availability of computer system resources, especially data storage and computing power, without direct active management by the user. The term is generally used to describe data centers available to many users over the Internet.
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Artificial intelligence chip giant Nvidia sees sales more than double
By Mariko OiBusiness reporter
Technology giant Nvidia says its sales have hit a record after More Than doubling as demand for its Artificial Intelligence (AI) chips soars.
The Company says revenue jumped to above $13. 5bn (£10. 6bn) for the three months to The End of June.
Nvidia also expects sales to soar further in the current quarter and plans to buy back $25bn of its stock.
The Firm 's shares rose by More Than 6. 5% in extended trading in New York , adding to their huge gains this year.
Nvidia also said it expects revenue of around $16bn for the three months to The End of September.
That is much higher than Wall Street expectations and would equate to a rise of around 170%, compared to the same time Last Year .
" A new computing era has begun, "
" Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI, " he added.
The strong performance was driven by Nvidia's data centre business, which includes AI chips.
Revenue for that unit came in at more $10. 3bn, a rise of More Than 170% from year ago, as Cloud Computing service providers and large consumer internet companies snapped up its next-generation processors.
This year, as its shares More Than tripled in value.
That made it the fifth publicly traded US company to join the so-called " Trillion dollar club" along with Apple, Microsoft, Alphabet and Amazon.
Nvidia was originally known for making The Type of computer chips that process graphics, particularly for computer games.
Now its hardware underpins most AI applications, with for Machine Learning .
ChatGPT - which generates human-like responses to user queries within Seconds - was trained using 10,000 of Nvidia's graphics processing units clustered together in a supercomputer belonging to Microsoft.
AI products are expected to dramatically change how we use computers and The Role they play in our lives.
Related TopicsSource of news: bbc.com
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