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Is Nvidia a winner of the artificial intelligence boom?

Nvidia, the kingpin of chips powering artificial intelligence, on Wednesday released quarterly financial results that reinforced how the company has become one of the biggest winners of the artificial intelligence boom, and it said demand for its products would fuel continued sales growth.

Why is Nvidia's AI market booming?

Soaring demand for Nvidia’s GPUs, which dominate the market for training AI models, has made it the biggest winner from this year’s boom in the industry. Supply rather than demand has become the main constraint on the company’s growth in the short term.

How has AI fueled the US stock market?

The group’s surging stock price has made it one of the biggest factors behind the AI-fuelled tech rally that has underpinned the broader US stock market this year. At least 17 brokers raised their price targets for the stock following the earnings update.

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