TECH - Nvidia's Newest Chip Is Good News For GenAI Development But Bad News For Its Rivals | Benzinga
The week began Nvidia Corporation (NASDAQ: NVDA) unveiling its next major AI chip which will likely make life harder for its competitors, Advanced Micro Devices (NASDAQ: AMD) and Intel (NASDAQ: INTC), who are trying to catch up. With its stock rising more than 230% year-to-date and armed with the AI hype, Nvidia guided for third quarter revenue of about $16 billion which presents a 170% YoY increase.
The cloud arms of Amazon.com Inc (NASDAQ: AMNZ), Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL)-owned Google, Microsoft Corporation (NASDAQ: MSFT), and Oracle Corporation (NYSE: ORCL) will be among the first to offer the new GPUs next year.
Nvidia Is Bringing The AI Chip Game To The Next Level
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