Nvidia’s Monster Quarter An “iPhone Moment” For AI?

A trillion dollars of installed global data center infrastructure will transition from general purpose to accelerated computing as companies race to apply generative AI into every product, service and business process – NVDA CEO Jensen Huang, Press Release May 24

Leading chip maker Nvidia (NVDA) shocked Wall Street on Wednesday afternoon with its current quarter revenue outlook. NVDA forecast $11 billion in revenue for the current quarter; its previous highest quarterly revenue was $8.3 billion. The stock exploded higher on Thursday to new all time highs and is knocking on the door of a $1 trillion valuation. The reason: demand for chips that can support Artificial Intelligence (AI). CEO Jensen Huang called it an “iPhone moment” – alluding to the introduction of the iPhone in 2007 which changed the way business is done and even how all of us live our lives.

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