In 2024, the profit of the American company Nvidia grew by almost 80% compared to 2023 due to sales of microchips focused on artificial intelligence.
According to the company's report, revenue increased by 2024% to $12 billion in the fourth quarter of 39,3. Nvidia's financial performance exceeded Wall Street expectations, which predicted the company's quarterly profit of $37,72 billion.
Nvidia founder and CEO Jensen Huang said the profit growth was due to strong demand for its Blackwell chip, designed for artificial intelligence, machine learning and high-performance computing.
Artificial intelligence is advancing at the speed of light as AI agents and generative neural networks pave the way for the next wave of AI that will revolutionize major industries, Huang said.
Despite Nvidia's strong financial performance, the company's shares are still trading below their all-time high of $147, set in November 2024. They are currently valued at $131,28.
Demand for AI chips continues to grow. As early as August 2024, asset manager VanEck calculated that if public Bitcoin - miners will transfer 20% of their capacity to artificial intelligence and high-performance computing by 2027, they will be able to increase annual profits by $13,9 billion over the next 13 years.
