Is artificial intelligence at a 'tipping point'?

The boss of the world's most valuable chip maker Nvidia said artificial intelligence (AI) is at a "tipping point" as it announced record sales. The technology giant reported that revenues surged by 265% to $22bn (£17.4bn) in the three months to 28 January, compared to a year earlier. For the year as a whole, turnover more than doubled to $60.9bn.

How will AI affect Nvidia's Q2 2024 earnings?

Nvidia’s Q2 2024, by revenue. Nvidia is forecasting revenue of $16 billion next quarter, yet another leap due to AI. “We expect sequential growth to be driven largely by data center,” says Nvidia CFO Colette Kress on the earnings call. The company’s stock price jumped 8.5 percent in after-hours trading.

Are generative AI and Accelerated Computing hitting the tipping point?

“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries, and nations,” said Jensen Huang, founder and CEO of Nvidia.