Nvidia’s second-quarter earnings, which were reported Wednesday after markets closed, prove there is money to be made — and lots of it — selling the picks and shovels of the generative AI boom.
“A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” Nvidia founder and CEO Jensen Huang said in a statement.
Huang isn’t wrong. Nvidia has become the main supplier of the generative AI industry. The company’s A100 and H100 AI chips are used to build and run AI applications, notably OpenAI’s ChatGPT. Demand for these demanding applications has grown steadily over the last year, and infrastructure is shifting to support them.
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