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William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical writing. Other jobs have… Read more
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Ethernity Networks pivots to licensing and revenue-sharing strategy for its technology
Published: 08:44 21 Nov 2023
Nvidia Corporation (NASDAQ:NVDA) soared to yet another all-time high in premarket trades on Tuesday in anticipation of its third-quarter earnings call scheduled for later today.
The fabless semiconductor giant is now more than 250% higher year to date in what has been one of the best years in recent memory for any technology megacap.
Headed by Jensen Huang, California-based Nvidia shot to the top of public consciousness in the midst of the artificial intelligence (AI) frenzy, when its bespoke microchips became the hottest commodity in machine learning and large-language modelling.
OpenAI’s landmark ChatGPT LLM was trained on 10,000 Nvidia-designed chips, kickstarting an aggressive bid for Nvidia’s leading-edge designs.
The group’s record revenue beat in the second quarter cemented Nvidia as the leading technology blue chip of 2023.
As for the third-quarter results, Nvidia is gunning for another 18% quarter-on-quarter increase to $16 billion, with gross margins of 71.5%, according to GAAP standards.
Operating expenses are projected to be near $2.95 billion.
However, there are notable challenges ahead. The imposition of AI chip export restrictions to China has introduced uncertainty in this important market, and competition is intensifying as AMD strengthens its position in the semiconductor industry.
While Nvidia has downplayed these issues, there are also concerns about a bubble in the AI market, a scenario beyond the trillion-dollar company’s control.
Nvidia shares are expected to open at $505.59 when Nasdaq opens today.
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The FTSE 100 made a subdued start to the day, ahead of minutes from the latest FOMC meeting, and as the Autumn Statement looms. Ahead of the Chancellor’s statement tomorrow, official figures showed borrowing at the second-highest figure for October on record. However, the figure was below…
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