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- NVIDIA Q2 revenue +122% to $30.0B as demand for data center chips surges
NVIDIA Q2 revenue +122% to $30.0B as demand for data center chips surges
Bay Area Times
August 29, 2024
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Top stories today:
- NVIDIA Q2 revenue +122% to $30.0B as data center chip demand surges
- OpenAI in talks to raise new funding round at $100B+ valuation
- Telegram CEO charged with “complicity,” bail set at €5M
- California AI safety bill passes Assembly, awaiting governor’s signature
- Google rolls out custom AI chatbots Gems, image generation model Imagen 3
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. NVIDIA Q2 revenue +122% to $30.0B as demand for data center chips surges
$30.04B vs. $13.50B in Q2 FY24.
+15% QoQ from $26.04B revenue reported in Q1.
Net income +152% to $16.6B, vs. $6.2B in Q2 FY24.
Issues with production of the new Blackwell chip were acknowledged, but CEO Huang said that they’re “going to have lots and lots of supply.”
Stock -5% in the pre-market, even with NVIDIA beating expectations for EPS, revenue, and guidance.
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3. OpenAI in talks to raise new funding round at $100B+ valuation
Almost +20% from their $86B valuation in Oct.
$1B from Thrive Capital is possible.
Microsoft participation expected as well.
$103B: Current OpenAI investors have been negotiating to sell shares at their price.
4. Telegram CEO charged with “complicity,” refusal to cooperate; bail set at €5M
