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Nvidia Reports $12.3 Billion Profit on High Demand for AI Chips

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Nvidia,Profit,AI Chips

Nvidia's profit soars to $12.3 billion in the recently ended quarter on record high revenue driven by demand for its chips to power artificial intelligence.

Nvidia reported a profit of $12.3 billion in the recently ended quarter, driven by high demand for its chips to power artificial intelligence. The company recorded a record revenue of $22.1 billion in the quarter and $60.

9 billion for the fiscal year. Nvidia CEO Jensen Huang stated that accelerated computing and generative AI have reached a tipping point.

 

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