Nvidia: Nothing seems to slow down the world’s biggest seller of AI chips

A big question for Wall Street this week was whether Nvidia’s first-quarter sales would beat expectations. If they did, Big Tech would still only be in the foothills of the AI hype cycle. If not, it would be a signal of AI-led growth on pause. They did. Nvidia’s $26 billion in revenues was close to three times more than a year ago. Demand for its top two AI chips will outstrip supply well into 2025, said the company’s CEO, who hopes a 10-for-one split will make his shares more tempting for retail investors. Nvidia’s market cap has grown six-fold since early last year. Its biggest customers have spent an estimated $50 billion on its chips since March alone, the WSJ says. But generative AI start-ups aren’t yet booming. Whisper it, but you can still spend much more training large language models than you can make back by using them.