Analyst Says NVIDIA Corp (NASDAQ:NVDA) is the “Only Game In Town” for AI GPUs
What did Dan Ives describe GPUs as in the technology sector?
Dan Ives described GPUs as the new "oil" or "gold" in the technology sector, playing a crucial role in the race to capture the $4 trillion AI market. He believes that spending on GPUs and data centers is the "only game in town" for running generative AI applications.
How did NVIDIA Corp perform in the first quarter of 2024?
NVIDIA Corp reported revenue of $7.19 billion in the first quarter of 2024, down 13% from a year ago but up 19% from the previous quarter. GAAP earnings per diluted share were $0.82, up 28% from a year ago and up 44% from the previous quarter. The company saw strong growth in its Data Center business, with record revenue of $4.28 billion.
What did Jensen Huang say about the global data center infrastructure?
Jensen Huang, CEO of Nvidia, said that the global data center infrastructure is currently worth about $1 trillion and is expected to double in the next five years. He also mentioned that a massive upgrade cycle is underway to refocus these data centers on the type of chips Nvidia designs, to address new use-cases like generative AI and other high-performance computing workloads.