Nvidia chief executive Jensen Huang announcing an updated chip in Los Angeles on August 8th. Photograph: Philip Cheung/The New York TimesNvidia is the story stock of 2023, and some analysts are giddy with excitement. “They’re the Godfather of AI [artificial intelligence],” Wedbush’s Dan Ives said last week, after Nvidia announced blockbuster earnings. Nvidia’s guidance was “historical” and would be “heard around the world”, Ives breathlessly enthused.
Nvidia, which makes chips needed to power AI applications such as ChatGPT, did indeed deliver spectacular results. Not only did it trounce analyst sales estimates , it blew past the so-called whisper number , announcing quarterly sales of $13.5 billion. Guidance of $16 billion exceeded even the most optimistic whisper estimates.