Why did chip-maker Nvidia’s profits soar and is it living in a tech bubble?

  • August 24, 2023
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Firm’s relentless focus on AI paid off in spades, with analysts optimistic of further success

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The stock market darling on everyone’s lips is Nvidia, which makes the processing chips that power everything from home computers to industrial machinery to cutting-edge artificial intelligence technology.

On Thursday, the company stunned Wall Street with results that blew the roof off analysts’ expectations, reporting $13.5bn in quarterly profits, $2bn higher than pundits had predicted.

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