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The world’s largest supplier of graphics processing units (GPUs) is ramping up production of its data center chip, also used in artificial intelligence – a priority now for large tech companies from Microsoft (NASDAQ:MSFT) to Alphabet (NASDAQ:GOOGL)’s Google.
Analysts believe Nvidia is best placed to capitalize on this boom as it dominates roughly 80% of the GPU market.
GPUs are used to speed up certain tasks in a computer as well as improve the quality of visuals in games.
The company forecast current-quarter revenue of $6.50 billion, plus or minus 2%. Analysts on average expect $6.33 billion in revenue, according to Refinitiv data.
Revenue in the quarter ended Jan. 29. was $6.05 billion, compared with analysts’ average estimate of $6.01 billion.
