Nvidia's earnings and sales exceeded expectations, causing a 28% surge in their stock shares.

The company specializes in creating chips that power generative AI, a type of artificial intelligence that can produce new content in response to user prompts.

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Generative AI is the technology behind popular AI advancements like ChatGPT, Google's Bard, and Dall-E.

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Nvidia's CEO, Jensen Huang, highlighted the two major transitions in the computer industry: accelerated computing and generative AI.

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Huang predicts a massive shift in global data center infrastructure towards accelerated computing as companies adopt generative AI in various aspects of their operations.

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Nvidia is working to meet the surging demand for its data center products by increasing supply.

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Last quarter, Nvidia's profit increased by 26% to $2 billion, and sales rose by 19% to $7.2 billion, surpassing analyst forecasts.

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Nvidia's outlook for the current quarter is approximately 50% higher than analysts' predictions.

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