Record Nvidia sales as boss sees AI ‘tipping point’

Nvidia has reported record sales for the third quarter of 2021, with the company’s CEO Jensen Huang citing a “tipping point” in the adoption of artificial intelligence (AI) technology.

According to the financial report released by Nvidia, the company saw a 50% increase in revenue compared to the same period last year, reaching a total of $7.1 billion. This growth was driven by strong demand for Nvidia’s graphics processing units (GPUs), which are used in a wide range of applications including gaming, data centers, and AI.

In a statement, Jensen Huang highlighted the increasing importance of AI in driving innovation and creating new opportunities for businesses. He stated, “We believe we are at a tipping point for AI, where its impact on industries and society is only going to accelerate. This is driving strong demand for our technology, and we are well-positioned to capitalize on this trend.”

Nvidia’s success in the AI market has been attributed to its leading technology in GPU acceleration, which is used by major companies such as Google, Amazon, and Microsoft to power their AI workloads. The company has also been investing heavily in research and development to further enhance its AI capabilities.

Looking ahead, Nvidia expects continued growth in the AI market and plans to expand its offerings to meet the evolving needs of customers. The company’s strong performance in the third quarter is a testament to the increasing importance of AI in driving innovation and economic growth.