US technology company Nvidia says it has sharply increased its earnings in the past three months.
The company, renowned as the primary supplier of chips supporting new artificial intelligence (AI) applications, is achieving record results as tech companies race to develop the most advanced AI models.
Nvidia’s revenue in February, March and April totalled $26 billion – a 262% increase on earnings in the corresponding period of last year. The most significant growth came from the sales of processors for data centres, which new AI systems rely on for their computing power.
Profits rose to $14.9 billion, more than seven times higher than in the first quarter of the previous financial year.
Starting as a developer of graphic cards for the gaming industry, Nvidia needed processors with high computing capacity to create realistic effects.
After modifications, these chips were adapted for other uses, subsequently providing a solution for processing large quantities of data within self-learning AI systems.
