During the latest earnings call, Nvidia CEO Jensen Huang reiterated his bullish outlook for the company, dismissing concerns that DeepSeek’s R1 reasoning model might undercut Nvidia’s sales.
Despite last month’s record drop in Nvidia’s stock—triggered by speculation that DeepSeek’s model required far fewer chips to train—Huang emphasized that such innovations only increase overall demand for compute.
“Reasoning models can consume 100 times more compute, and future reasoning models will consume much more compute,” Huang said, adding that DeepSeek R1 has “ignited global enthusiasm” and is being widely adopted by AI developers. He described the innovation as “excellent” and a positive signal for the entire AI industry, which relies on significant computational power—a core strength of Nvidia’s product portfolio.
Nvidia reported another record-breaking quarter, with total revenue reaching $39.3 billion—exceeding both its internal projections and Wall Street estimates. The company also provided guidance for the upcoming quarter, expecting revenue to climb to approximately $43 billion. Data center sales have been particularly robust, with figures nearly doubling in 2024 to $115 billion and showing a 16% increase compared to the previous quarter.
Huang highlighted the success of Nvidia’s latest Blackwell chip, which has been custom-built for reasoning applications. “Current demand for Blackwell is extraordinary,” he said. “We will grow strongly in 2025.”
This robust performance comes at a time when the market for AI chips shows no signs of slowing. Industry giants Meta, Google, and Amazon have recently unveiled massive AI infrastructure investments, collectively committing hundreds of billions of dollars over the coming years.
Despite the market turbulence sparked by DeepSeek’s debut, Nvidia’s earnings underscore the company’s pivotal role in powering next-generation AI applications. As AI models continue to require exponentially more compute power, Nvidia appears well-positioned to capitalize on the expanding global demand.
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U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar with the matter said. They were met by Russian Presidential Envoy Kirill Dmitriev.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 4th of September, covering the latest developments.
U.S. efforts to squeeze Iran’s economy through an oil blockade and sanctions are becoming increasingly difficult for Tehran to withstand, according to three senior Iranian sources. Washington is escalating pressure in hopes of securing concessions in future negotiations.
An Iranian tanker was hit by U.S. forces on Saturday near Iran's key oil export hub, Kharg Island, in the Gulf, the semi-official Iranian news agency Tasnim reported.
The United States and China are preparing to hold their first official bilateral talks focused exclusively on artificial intelligence as concerns grow over the risks posed by increasingly capable AI systems.
AI may live in the cloud, but the infrastructure powering it is anything but virtual. As data centres consume ever more electricity and water, the race is on to find new ways to keep the machines running.
Hua Hong Semiconductor, China's second-largest contract chipmaker, is investing $2 billion to build a new fabrication plant in Wuxi, China as part of a push to expand capacity as domestic demand for AI-related chips outstrips what the industry can currently produce.
A humanoid robot developed by Chinese smartphone maker Honor has run 100 metres in 9.32 seconds, beating Usain Bolt's men's world record of 9.58 seconds, China's state broadcaster reported on Saturday.
An artificial intelligence agent running an experimental store in San Francisco has recommended dismissing a human employee after the worker repeatedly arrived late for shifts.
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