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Nvidia results show its growing lead in AI chip race

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AI has emerged as a bright spot for investments in the tech industry, whose slowing growth has led to widespread layoffs and a cutback on experimental bets.

The surge in interest helped Nvidia report better-than-expected quarterly earnings on Wednesday and forecast sales above beat Wall Street expectations, in stark contrast to a projected loss and dividend cut from rival Intel Corp.

It now has a market value of more than $500 billion, about five times that of Intel, and is the seventh-largest publicly traded U.S. firm. Advanced Micro Devices, whose shares also rose after Nvidia earnings on Wednesday, is the second-biggest player in the GPU industry, with a market share of roughly 20%.

Chipmakers set to reap gains from AI arms race https://www.reuters.com/graphics/AI-CHIPSNVIDIA/gdvzqdxnnpw/chart.png

 

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