400% earnings growth and
242% revenue growth.
461% earnings growth (629% GAAP)
262% revenue growth.
Nvidia did it again.
edit: "Intel CEO Pat Gelsinger raised a few eyebrows by attributing Nvidia's current dominance of the AI market to luck" - https://www.extremetech.com/computing/nvidia-engineer-respon....
What Intel really needs to do is get competitive with TSMC. Gelsinger started the process instantly when he became the CEO, but it takes time.
Intel is the cheapest tech company by a huge margin if look at book value.
Those fabs are expensive, but even if nobody wants Intel processors anymore, they could even manufacture Ryzen's.
The downside is that it takes 3-5 years to make profit on a fab, it's easier to be NVidia in that sense, but I wonder if it's sustainable in the long run.
...so yeah some casual R&D isn't gonna cut it...they need to pull a rabbit out of a hat urgently.
It’s good that there is precedent proving it can be done, but duplicating it is another matter
(Microsoft announcing a few days ago that they have taken the lead in a new computing paradigm with their AI-infested devices was genuinely fascinating to me in that respect. The actual AI stuff that got added, I was like, (a) perhaps marginally useful for certain folks but (b) I don’t want any of it, and (c) it’s just literally the same stuff pushed for the past two years, only now with the same breathlessness as when people were genuinely wondering if ChatGPT was sentient (lol). Like, the huge pushback iTerm2’s creator got over adding an AI facility to its latest release puzzled some folks, but it really does feel like people are sick of the AI hype. AI evangelists are going to induce another AI winter if they don’t pump the brakes and start managing expectations better.)
All that for a measly 4% after hours bump? It's like "the street" is tired of this trick/doesn't have much more to give.
I predict that the price can go up 8 - 10% tomorrow.
Speaking about how high is the specific moat here - NVDA had great foresight starting to develop their CUDA almost 20 years ago. I at the time was thinking - the HPC market couldn't be that big to support that investment. Well, when 10 year ago the GPU deep learning arrived with AlexNet the CUDA was ready for that Valkyrie ride we've been seeing since then while all the other players are only starting to wake up at best.
That is on supply side. On the demand side - if any projections about AI even in nanobots in your blood come even partially true - we have decades of AI technology growth ahead, and like with other foundational technologies of our civilization - electricity and the internet and the space (guess who is going to mine He3 on the Moon?) - it will be everywhere. NVDA probably like any other company will stagnate and become MBA heaven like say IBM or even rot and perish and/or somebody will come up with completely different technology for AI leaving NVDA in the dust, yet it is hard to see how it can take less than coupe of decades (i.e. hardly can happen until Jensen leaves). (i'm long if any asks :)
Minor correction. They stole the technology.
When British invented textile mills they had strict law against exporting the designs. Cotton was bought from the US to Britain and made into textiles.
Samuel Slater is considered the Father of the American Industrial Revolution was called "Slater the Traitor" in Britain. He memorized the textile factory machinery designs when he worked as an apprentice, then moved to the US.
Americans, Japanese, Chinese industrialization follows the same proud tradition. You steal when you can't get it any other way.
Google announced 2 weeks ago that its Q1 capex for datacenters and servers was $12B. This was up 100% y/y. Goog also expects for this capex spend to be ongoing... A healthy chunk of that is all going to Nvda