Nvidia’s profit soars, underscoring its dominance in chips for artificial intelligence

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Summary

● Nvidia’s quarterly profit soared, driven by its dominance in chipmaking for AI applications.
● CEO Jensen Huang predicts the rise of “AI factories” using Nvidia chips to produce AI.
● Nvidia’s earnings per share exceeded Wall Street expectations and announced a stock split and dividend increase.
● The company’s stock price rose in after-hours trading, with a market value ranking third on Wall Street.
● The future of Nvidia’s dominance may be challenged as the market shifts towards less expensive AI chip alternatives for inference tasks.

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