Soaring AI demand sends Nvidia profits rocketing up by 109% making it the world's most valuable company
American chipmaker Nvidia beat sales expectations for its third quarter after it saw its profit more than double thanks to a growing demand in artificial intelligence. The Santa Clara, California-based firm, which has solidified itself as the world's most valuable company following its third quarter performance, saw its profit jump by 109% to $19.3 billion, beating analyst forecasts of $17.4 billion. Meanwhile, revenue jumped 94% year-on-year to $35.1 billion, when analysts had forecasted sales of $33.
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