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Nvidia’s action on Wednesday reached a record.
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The comments of CEO Jensen Huang on the growth of AI and robotics have strengthened the confidence of investors.
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US export restrictions to China will have an impact on NVIDIA’s income, the company said.
Nvidia refused its title as the most precious business in the world for the second time this month.
The actions of the IA flea manufacturer increased by more than 4% on Wednesday, ending a record for the first time since January, after the remarks of CEO Jensen Huang at the annual nvidia investor meeting.
NVIDIA’s actions closed $ 154.31 on Wednesday, exceeding its previous fence top of $ 149.43 on January 6. Nvidia is now worth 3.77 billions of dollars, just ahead of Microsoft, which is worth 3.66 billions of dollars, and Apple, at 3.01 billions of dollars.
Huang’s comments in business growth areas have strengthened investor confidence.
“We have many growth opportunities in our company, with AI and the two largest robotics, representing an opportunity for growth of several dollars,” said Huang.
He added that autonomous vehicles, which will be the first commercial application of robotics, are a big goal for the company.
“The NVIDIA Drive platform feeds the transition to vehicles defined by software and provides the immense calculation power required for autonomous capacities,” he said during the meeting.
Huang’s comments on AI growth have reprimanded investors concerning the company who cannot sell in China due to the United States export restrictions.
Nvidia said last month that it expects to lose about $ 8 billion in the second quarter due to the loss of H20 flea sales.
In April, the administration of President Donald Trump published new rules that prevented Nvidia from selling its IA H20 processor to China.
When calling the results of last month, Huang doubled his previous comments according to which export restrictions to China were a “failure”.
“Export control has given them the mind, energy and support of the government to accelerate their development. So, I think, on the whole, export control is a failure,” said Huang last month on Chinese technological companies.
NVIDIA said $ 17.1 billion in China income for its last financial year, or 13.1% of its total income. China’s income increased by 66% compared to the previous year.
The flea manufacturer’s stock has increased by almost 15% so far this year.
Read the original article on Business Insider
