Nvidia, the worldâs most valuable company with a market capitalization of $4.39 trillion at the time of writing, beat revenue expectations for its fiscal second quarter, reporting sales of $46.74 billion on Wednesday after market close.
Nvidia posted that data center revenue was up 56% from a year prior, reaching $41.1 billion.
The companyâs longtime CEO, Jensen Huang, told Fox Business Networkâs The Claman Countdown on Thursday that AI, which Nvidia is advancing, would cause âsome jobsâ to disappear but result in new jobs becoming âinvented.â
Related: Nvidia Pulls Ahead of Apple and Microsoft to Become the Worldâs First $4 Trillion Public Company
âOne thing for sure, every job will be changed as a result of AI,â Huang said.
Nvidia CEO Jensen Huang. Photo by Wan Quan/VCG via Getty Images
Huang also told Fox Business that he expects the economy to be doing âvery wellâ in the future due to AI and automation, and stated that the quality of life for humanity would improve.
Huangâs remarks add to what he said last month on an episode of The All-In Podcast. On the podcast, Huang stated that the âone thing we know for certainâ is that people who use AI will replace those who donât. He predicted that AI use will lead to more millionaires in the next five years than the Internet produced in two decades.
Related: How Nvidia CEO Jensen Huang Transformed a Graphics Card Company Into an AI Giant: âOne of the Most Remarkable Business Pivots in Historyâ
Huang also called AI the âgreatest technology equalizer of all timeâ because it allows anyone to program by simply using plain English prompts (a practice known as âvibe coding,â which even Google CEO Sundar Pichai has dabbled in).
âAI in my case is creating jobs,â Huang said on the podcast, adding that the technology enables people to âcreate things that other people would like to buy.â
AI allows creative people to act on their ideas by providing technical services. In turn, it enables technical people to use it for creative endeavors, Huang pointed out.
Nvidia held 92% of the market share for AI chips in the first quarter of the year. Its chips power ChatGPT, an AI chatbot with more than 700 million weekly users as of this month, up from 500 million users in March.
Related: Nvidiaâs CEO Jensen Huang Says Heâs âCreated More Billionairesâ Than Anyone Else â Adding Two More This Week
Nvidiaâs stock was up over 30% year-to-date at the time of writing.
Nvidia, the worldâs most valuable company with a market capitalization of $4.39 trillion at the time of writing, beat revenue expectations for its fiscal second quarter, reporting sales of $46.74 billion on Wednesday after market close.
Nvidia posted that data center revenue was up 56% from a year prior, reaching $41.1 billion.
The companyâs longtime CEO, Jensen Huang, told Fox Business Networkâs The Claman Countdown on Thursday that AI, which Nvidia is advancing, would cause âsome jobsâ to disappear but result in new jobs becoming âinvented.â
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