“Nvidia earnings [Up,] scare away AMD, Intel investors as legacy chipmakers lose ground in AI
August 25, 2023
“Developers in the world of artificial intelligence can’t get enough of Nvidia’s processors. Demand is so strong that the company said late Wednesday that revenue in the current quarter will jump 170% to roughly $16 billion.
Nvidia shares rose more than 2% on Thursday before slumping towards the end of the day to finish flat and miss a record close, while the broader market had a rough day.
There’s a flipside to the story. AMD, Nvidia’s main rival in the market for graphics processing units (GPUs), is falling further behind, while chip giant Intel continues to miss out on the hottest trend in technology.
Shares of AMD and Intel fell 7% and 4%, respectively, following Nvidia’s fiscal second-quarter earnings announcement…”