AI beats on both the top and bottom lines for Nvidia's Q1 results.

AI beats on both the top and bottom lines for Nvidia's Q1 results.

On Wednesday, Nvidia (NVDA) exceeded analysts' top and bottom line projections with its data center unit. 

The business estimates Q2 sales of $11 billion, plus or minus 2%. Wall Street expected $7.2 billion.

Nvidia's high-powered graphics cards and server goods are fueling the AI boom, and its stock price is rising. 

Nvidia shares have risen 77% and AMD (AMD) 12% in the last year. Intel (INTC) shares are down 30%.

Nvidia shares rose almost 13% after the news.

“The computer industry is going through two simultaneous transitions—accelerated computing and generative AI,” Nvidia CEO Jensen Huang remarked

"A trillion dollars of global data center infrastructure will transition from general purpose to accelerated computing as companies race to apply generative AI to every product, service, and business process."

Nvidia's shares are rising due to OpenAI's ChatGPT and Microsoft (MSFT) and Google's (GOOG, GOOGL) generative AI projects, but the gaming sector is still in a tailspin.

After the epidemic, consumer electronics spending plummeted. Consumers purchased graphics cards and equivalent PCs to pass the time while sitting at home.

However, players no longer need to update. Intel and AMD have similar client computing issues.

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