Chipmaker Nvidia predicts strong investment in AI, metaverse buzz | Technology News
The world’s largest manufacturer of AI chips and chips expects the fourth-quarter revenue to grow higher than experts expect.
Nvidia Corp on Wednesday predicted fourth-quarter investment than expected by Wall Street, betting on the growth of its data business as more online companies plan to invest in innovative and complex technologies.
The company’s share was up about 4 percent on temporary sales. They have doubled this year.
The world’s largest photographer and AI chips expect the latest $ 7.40bn, plus or minus 2 percent, above what experts think of $ 6.86bn, according to IBES data from Refinitiv.
The coronavirus epidemic increased the demand for graphics chips used on games and computers while home-based consumers spend more time playing video games, with the help of cryptocurrency operators. The company is also benefiting from more recent experiments such as smart manufacturing chips used in data centers and for autonomous vehicles.
In the third quarter, revenues from Nvidia games increased 42 percent to $ 3.22bn and data production rose 55 percent to $ 2.94bn.
Researchers expect $ 3.13bn and $ 2.75bn in games and data storage, according to FactSet.
Overall, the revenue rose nearly 50 percent to $ 7.10bn in the three months ended October 31, more than about $ 6.83bn, according to IBES data from Refinitiv.
