Nvidia, thanks to AI Boom technology, reports rising revenues and profits
Nvidia, which makes microchips that power most artificial intelligence applications, began an extraordinary journey a year ago.Fueled by an explosion of interest in artificial intelligence, the Silicon Valley company said last May that it expected chip sales to skyrocket. They did, and the fervor hasn't stopped, with Nvidia increasing its revenue projections every few months. Its shares have soared, giving the company a market capitalization of more than $2 trillion that makes it more valuable than Alphabet, Google's parent company.On Wednesday, Nvidia again reported rising revenues and profits that underlined how it remains the dominant winner of the artificial intelligence boom, even as it grapples with outsized expectations and growing competition.Revenue was $26 billion for t...