Artificial intelligence doping: Nvidia's revenues increased by 262 percent annually
US-based chip manufacturer Nvidia's revenue increased by 262 percent annually in the 3-month period ending April 28, as demand for artificial intelligence chips continued to increase.
In recent years, investments in artificial intelligence technologies have increased. Many companies have begun spending billions of dollars to develop their own artificial intelligence technologies. These investments benefited chip manufacturers the most.
The increase in the shares of US-based chip manufacturer #Nvidia has increased by more than 50 percent since the beginning of the year, driven by the demand for artificial intelligence chips.
The revenue of California-based chip manufacturer Nvidia exceeded market expectations with $26 billion in the 3-month period ending April 28, reaching a record level.
Accordingly, the company's revenue in the said period increased by 262 percent annually, reaching 26 billion dollars, breaking a record.
Nvidia, which increased its revenue by 18 percent compared to the previous quarter, earned $7.2 billion in revenue in the same quarter last year.
Nvidia's net profit increased by 628 percent annually in the quarter in question, reaching 14.9 billion dollars. The company made a profit of $2 billion in the same period last year.
The company's earnings per share, which was 82 cents in the fourth quarter of the last fiscal year, increased to $5.98 in this period.
