Nvidia Expected to Report Significant Revenue Growth Amid AI Boom
Despite U.S. restrictions, the company develops new chips for the Chinese market and introduces a top-tier AI chip, the H200.
- Nvidia, the leader in artificial intelligence chips, is expected to report a nearly 173% jump in revenue for the third quarter, according to analysts.
- The company's stock price has increased 237% in 2023, outpacing any other member of the S&P 500 and reaching a market cap of $1.2 trillion.
- Despite U.S. restrictions on sales of its high-end chips to China, Nvidia has reportedly developed three new chips for the Chinese market.
- Nvidia has introduced a new top-of-the-line chip for AI, the H200, which is expected to help maintain its lead over AMD.
- Major cloud service providers including Amazon Web Services, Google Cloud, Microsoft Azure and Oracle Cloud Infrastructure will be among the first to offer access to H200 chips.