Chip developer Nvidia has again significantly increased its turnover and profit in the past quarter. The company is known as the leading seller of chips that support new applications of artificial intelligence (AI). With many tech companies racing to develop the most advanced AI models, Nvidia is seeing record results.
Sales for February, March and April amounted to $26 billion, which is more than triple (262 percent more) the revenues a year earlier. Revenues rose most rapidly from the sale of processors for data centers, on which new AI systems rely for their computing power. At $14.9 billion, profit was more than seven times higher than in the first quarter of the previous financial year.
Nvidia started out as a developer of graphics cards for the gaming industry. These processors must have a lot of computing power for realistic effects. After adjustments, Nvidia made these chips suitable for other applications, which then offered a solution for processing large amounts of data in self-learning AI systems.