Artificial intelligence chip giant Nvidia has seen its revenue double in the last quarter due to surging demands for AI technology. The company’s stock surged by nearly 10 per cent in after-hours trading on Wednesday after it posted a sales growth of 101 per cent year-over-year to $13.5bn for the three months ending in July. The company has been a pioneer in accelerated computing, popular among gamers for its GPU inventions that redefined computer graphics and sparked the growth of the PC gaming market. In recent years, the company ignited the era of modern AI and fuelled industrial digitalisation across markets. The American chipmaking giant makes processors behind generative AI, which form the backbone of chatbots like ChatGPT. “A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” said Jensen Huang, founder and chief of Nvidia in a statement. “The race is on to adopt generative AI,” he said. Since OpenAI’s ChatGPT came to prominence, many tech companies such as Google, Facebook and Snapchat have attempted to develop their own versions of the generative AI technology to better interact with users and offer human-like responses to queries. The revenue earned by the company over the last quarter is much stronger than the $11.2bn that Wall Street analysts expected. This surge in revenue was driven by the chipmaker’s data centre business that includes the production of AI chips. “During the quarter, major cloud service providers announced massive Nvidia H100 AI infrastructures. Leading enterprise IT system and software providers announced partnerships to bring Nvidia AI to every industry,” Mr Haung said. The company hopes for its earnings in the current quarter to be even greater, predicting a revenue of about $16bn. “Demand for our data center platform for AI is tremendous and broad-based across industries and customers.” Nvidia’s chief financial officer Colette Kress said on the company’s earnings call. “We believe global demand has returned to growth after last year’s slowdown,” Mr Kress said. Read More Google may soon roll out AI ‘personal life coach’ WhatsApp update gives users access to generative AI to create custom sticker art AI poses a profound threat – but could also help us in a variety of important ways, experts agree Jury finds teenager responsible for computer hacking spree Hackers ’emptied’ victims’ accounts and tried to blackmail GTA maker, court told Why India’s moon landing is about a lot more than exploring the lunar surface

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TikTok is “proactively and aggressively” removing posts seemingly glorifying Osama bin Laden, it has said. A series of videos that shared a letter from bin Laden justifying the 9/11 attacks were published across the platform, and TikTok said it was “investigating” how it had happened. But it also said that reports about the spread of the posts had been exaggerated, and that the number of videos was actually small. The controversy began in recent days after a host of videos were highlighted by journalist Yashar Ali, in a tweet. He said there were “thousands of TikToks (at least)” that shared the letter from bin Laden. “The TikToks are from people of all ages, races, ethnicities, and backgrounds. Many of them say that reading the letter has opened their eyes, and they’ll never see geopolitical matters the same way again,” he said. “Many of them — and I have watched a lot — say it has made them reevaluate their perspective on how what is often labeled as terrorism can be a legitimate form of resistance to a hostile power.” The tweet led to criticism of TikTok as well as its users, including from the White House. “There is never a justification for spreading the repugnant, evil and antisemitic lies that the leader of Al Qaeda issued just after committing the worst terrorist attack in American history,” a spokesperson said. TikTok said however that the spread of the posts had been relatively limited and that it was not true that the videos were trending. “Content promoting this letter clearly violates our rules on supporting any form of terrorism,” the company wrote on its TikTok account. “We are proactively and aggressively removing this content and investigating how it got onto our platform. “The number of videos on TikTok is small and reports of it trending on our platform are inaccurate. This is not unique to TikTok and has appeared across multiple platforms and the media.” TikTok does not provide readily accessible information about the spread of posts on its platform. Some of the videos had tens of thousands of likes and views. Many of the TikToks pointed to a copy of the letter that had been posted on The Guardian’s website. As it began to spread, the newspaper removed the page, replacing it with a note that it was lacking “the full context” and instead directed readers to a news article about the original letter. Read More TikTok launches feature to save songs to music apps like Spotify Elon Musk weighs in on the scooped bagel debate ICO seeks permission to appeal against Clearview AI tribunal ruling

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