$30B Revenue: How Nvidia Is Changing Our Lives With Artificial Intelligence

In the midst of the artificial intelligence boom, Nvidia posted US$30 billion in revenue for its second quarter, but what makes this American company strong in this field?

“Today, artificial intelligence is on everyone's lips, so Nvidia is on everyone's lips,” summed up Stephane Ricoull, vice president of Talsom and an expert in the digital economy.

The company, which is considered the second largest publicly traded company, has doubled its revenue from end-April to end-July 2024. If a person invests $10,000 in Nvidia in November 2022, he will have $100,000 in his pocket today.

“Nvidia makes tiny processors, tiny chips that provide the incredible computing power that artificial intelligence needs,” Mr. Ricoull explained in an interview with LCN on Wednesday.

The agri-food, agriculture and manufacturing sectors are particularly interested in the empowerment of processes that this type of technology offers.

Its main customers are Amazon, Google and Microsoft, as well as data centers in China.

“Nvidia's sales in China have dried up because the Biden administration has imposed some restrictions on exports,” the digital economy specialist said.

Not enough profit?

Despite these better-than-expected financial results, Nvidia shares lost 4.79% in electronic trading after the close on Wall Street.

“[Les analystes] Look at the third and fourth quarters and see that Nvidia's profit margins are crumbling. They're wonderful, but they're falling apart,” Mr. Ricoull established.

However, the enthusiasm for artificial intelligence is not likely to evaporate anytime soon.

“It's the growing hunger, the number of phone calls I receive a day for support [des clients] In terms of the choice of artificial intelligence, it cannot be denied,” the expert underlined.