Nvidia, a company known for making computer parts, had some really good news to share recently. Because of the smart moves they’ve been making with technology, their profits were way higher than expected. This made the price of their company’s shares go up a lot.
The CEO of Nvidia, Jensen Huang, said that the reason for this success is because more and more companies are using a special kind of technology called AI. This AI stuff is like having computers think and learn like humans do. It’s a big deal right now, and Nvidia is doing really well because of it.
In the past few months, Nvidia made around $2.70 for each share they have, which is a lot more money than most people thought they would. They also made a ton of money – around $13.5 billion – which is more than they made before (up 101% YoY). People who guess about money (they’re called analysts) thought Nvidia would make less, around $11.2 billion.
The most exciting part is what Nvidia thinks will happen next. They guess they’ll make even more money in the next few months – maybe around $16 billion! This is way more than what the experts thought, which was about $12.6 billion.
Jensen Huang, the CEO at Nvidia, said something interesting. He said that a new time for computers has started. Companies everywhere are changing the way they use computers, making them smarter with AI. He said it’s like a race to see who can use this AI technology the fastest.
Because of all this good news, the price of Nvidia’s shares went up by 7% after they shared this information.
One of the things that helped Nvidia make so much money is that lots of companies really like their computer parts. They make special parts that are good at doing AI things. This makes it easier for other people to make smart computer programs.
Nvidia’s computer parts have been really popular this year, and their company’s worth has gone up a lot. This is because they’re leading the way in AI technology. Start-up companies and big businesses like what Nvidia offers because they have special tools that make it easy to build smart computer programs.
When talking to Barron’s, Colette Kress, who is the CFO at Nvidia, said that they plan to keep making more and more of their computer parts. They also want to work with more companies to make even better computer parts. The most important things for them are when a company asks for their parts and how quickly they can give them to them.
So, in simple words, Nvidia is doing really well because they’re making super smart computer parts that lots of companies want to use. This makes them a lot of money, and they think they’ll keep making more money because more companies are using AI technology.
(Original Article Source: Barron’s)
