BELLEVUE, Wash.--(BUSINESS WIRE)--Aug 22, 2023--

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

China has banned the use of iPhones for central government officials, The Wall Street Journal reported, citing unnamed people familiar with the matter.

Fans can get AEW: Fight Forever early access by purchasing the Elite Edition for $79.99. Early access begins on June 28.

Costco stock falls after the warehouse retailer didn't increase membership fees, MillerKnoll surges after raising its fiscal 2024 profit outlook, and Micron is scheduled to report earnings Wednesday.

Australia’s corporate watchdog has investigated more than 100 companies under a drive to flush out greenwashing in the

After experiencing a pandemic sales boom, the PC market is facing tough times due to

The Fortnite Crew Pack November 2023 features the Drakon Steel Hybrid skin, perfect for Fortnite Rewind, and releases on Oct. 31 at 8 p.m. ET.

The debate over free speech and racial equity on Wisconsin’s college campuses is intensifying

Google hopes that people in decades to come “shrug” at the technology it is working on, according to its chief executive. Sundar Pichai, the boss of both Google and parent company Alphabet, revealed the importance of making technology go from “extraordinary to ordinary” in a memo to staff written to celebrate the company’s 25th anniversary. Traditionally, Google celebrates its birthday on 27 September, for largely arbitrary reasons. The company undertook a number of firsts through the summer and autumn of 1998, meaning that it has a range of options to choose as its official launch date. This year, however, Google appears to be celebrating throughout the whole month. Mr Pichai’s note was intended as a way of kicking off those celebrations, according to an editor’s note attached to it. Mr Pichai said that it is a “huge privilege to reach this milestone, made possible by the people who use our products and challenge us to keep innovating, the hundreds of thousands of Googlers past and present who have given their talents to building those products, and our partners who believe in our mission as much as we do”. And he looked forward to the future technology that the company is building, which revolves largely around artificial intelligence. But it hopes that those technologies become normal, Mr Pichai said. “Ideas my dad marveled at as science fiction — taking a call from your watch, or telling your car to play your favorite song — make my children shrug,” he wrote. “Those shrugs give me great hope for the future. They set a high bar for what the next generation will build and invent... and I can’t wait to see what will make their children shrug, too. “An essential truth of innovation is that the moment you push the boundary of a technology, it soon goes from extraordinary to ordinary. That’s why Google has never taken our success for granted.” Concluding the note, he said that he hoped that the contested questions of artificial intelligence will eventually elicit the same kind of response. He noted that the technology has undergone sustained questioning and criticism in recent months, but indicated that he hopes it becomes ordinary in the same way. “As these new frontiers come into view, we have a renewed invitation to act boldly and responsibly to improve as many lives as possible, and to keep asking those big questions,” he wrote. “Our search for answers will drive extraordinary technology progress over the next 25 years. “And in 2048, if, somewhere in the world, a teenager looks at all we’ve built with AI and shrugs, we’ll know we succeeded. And then we’ll get back to work.” He also revealed the importance of lobsters to Google. The first company to use its advertising platform was a “mail-order business selling lobsters”, he said – and that platform has since gone on to contribute the vast majority of Google’s revenues. Read More Why is Elon Musk obsessed with the letter X? Elon Musk ‘borrowed $1bn from SpaceX’ at same time as Twitter acquisition Sonos releases Move 2, its chunky speaker for the outdoors Why is Elon Musk obsessed with the letter X? Elon Musk ‘borrowed $1bn from SpaceX’ at same time as Twitter acquisition Sonos releases Move 2, its chunky speaker for the outdoors

Listen to The Big Take podcast on iHeart, Apple Podcasts, Spotify, Terminal. In what’s being hailed as a

A teenager has been issued with a criminal behaviour order and fined hundreds of pounds after entering a home as part of a TikTok “prank” video. Bacari-Bronze O’Garro, 18, of Manor Road, Hackney, London, appeared at Thames Magistrates’ Court on Wednesday. O’Garro appeared in court wearing a black hoodie and a face mask. He spoke only to confirm his name, age and address, and to admit to one count of failing to comply with a community protection notice. Varinder Hayre, prosecuting, told the court that O’Garro was issued with a community protection notice on May 11 last year, and that two of its conditions were that he not trespass on to private property. Ms Hayre said that he then breached that notice by entering a home on May 15 this year. “He went to the home address of the victim,” she said. “The door of the property was open. “Mr O’Garro walked into the property and immediately walked down the stairs. “He was stopped by the home owner. “He went into the living room. He sat down on the sofa and said ‘Is this where the study group is?'” He has caused the family a lot of distress Varinder Hayre, prosecuting Ms Hayre said: “He was asked to leave multiple times by both the victim and the husband.” She added: “It was discovered that he had filmed the entire incident for a TikTok trend about walking into random houses.” Ms Hayre said: “He has caused the family a lot of distress. “The faces of the couple and their two young children can be seen.” She told the court that the mother was under the impression that O’Garro was attempting burglary, and added that the mother takes her family’s privacy “very seriously”. “This has caused the victim great concern,” Ms Hayre said. Lee Sergent, in mitigation, said that O’Garro had apologised to the family. He said that his client was raised by a single parent and had a difficult upbringing. “Mr O’Garro grew up in a single parent household,” Mr Sergent said. “He had an extremely difficult childhood. “He is an intelligent young man and a young man with some potential.” He said that his client was neither in work nor education, but was instead in receipt of Universal Credit. Mr Sergent added that his client had made some legitimate social media content, including playing games and discussing conspiracy theories. Judge Charlotte Crangle issued O’Garro with a two-year criminal behaviour order. The order included that O’Garro must not directly or indirectly post videos on to social media without the documented consent of the people featured in the content, that he must not trespass into private property, and that he must not attend the Westfield Centre in Stratford. She also ordered O’Garro to pay a fine of £200, as well as a victim surcharge of £80 and costs of £85 – totalling £365. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live New brain technology helps paralysed man with severe spine injury walk again Meta Ireland to cut about 490 jobs Netflix begins crackdown on password sharing in the UK and US