Nvidia, the well-known AI chip manufacturer, presented its quarterly report, which led to the company's stock falling over 8%.
NVDA Stock Dropped
Nvidia's shares fell over 8% in extended trading, wiping out $250 billion in market capitalization. This happened after the company reported a revenue growth of 122% in Q2, which is the smallest margin over the last six quarters. Analysts suggest that the company set the bar too high.
Nvidia's Record Profit
Nvidia reported a net income of $16.6 billion in Q2, which is a 168% increase compared to last year's net income of $6.2 billion.
Nvidia's Future: Blackwell Chip
Nvidia stated that their new Blackwell platform set a new performance standard, demonstrating up to four times the improvement compared to the company's current top GPU, H100. Blackwell chips utilize second-generation Transformer Engine and FP4 Tensor Cores, making the generative AI task processing more efficient and faster. Nvidia also noted that the second phase of generative AI is now driven by more powerful and advanced open-source AI models.
Despite current successes, Nvidia shareholders are eagerly awaiting the release of the new Blackwell chip, which may have a significant impact on the company's future.
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