Posted 3/10/2024, 8:55:00 AM
Nvidia Soars on Booming AI Chip Demand; Software and Services Hit $1B as Company Bets on Voice AI and Robotics
- Nvidia's revenue and profits are soaring, fueled by booming demand for its GPU chips used in AI and data centers
- Nvidia reached a $1B annual revenue run rate in software and services in Q4, signaling expansion beyond hardware
- Growth areas for Nvidia's software include voice AI assistants and robotics technology
- Software offers higher margins than chips and could mitigate future competition in the GPU market
- Nvidia is investing in voice AI (SoundHound) and robotics (Figure Technologies) to capitalize on massive addressable markets