NVIDIA announced strong financial results for the fourth quarter of the fiscal year 2024 on Wednesday after the market closed, with a record revenue of $22.1 billion, a 22% increase from the previous quarter and a 265% increase from the same period last year. This news relieved market investors, and NVIDIA's stock price rose by more than 7% after hours. If this gain is maintained until the opening, the company's market value will increase by $160 billion.
NVIDIA's CEO, Jensen Huang, stated after the earnings release: "Accelerated computing and generative artificial intelligence have reached a tipping point. The demand from companies, industries, and countries around the world is soaring." He pointed out that this quarter, the company's revenue and profit performance far exceeded analysts' expectations, demonstrating strong demand in the field of artificial intelligence. The data center business was one of the main drivers of NVIDIA's soaring performance, with fourth-quarter revenue reaching a record $18.4 billion, and annual revenue growing 217%. Additionally, NVIDIA's gaming, professional visualization, and automotive divisions also achieved impressive results.
Meanwhile, Google also released the world's most powerful open-source model—Gemma. This groundbreaking technological breakthrough marks new heights in Google's efforts to advance AI development alongside companies like OpenAI, and further promotes the dissemination and application of artificial intelligence technology. The Gemma model comes in two sizes, 2B and 7B, and uses the same research and technology as Gemini. With the support of Gemini's homologous technology, Gemma not only achieves state-of-the-art (SOTA) performance at the same scale but also surpasses larger-scale models in key benchmark tests, such as Llama 2 13B. This achievement showcases Google's technical strength and leading position in the development of deep learning models.
According to Google, the name Gemma originates from the Latin word "gemma," meaning "gem," symbolizing the model's preciousness and value. The Gemma model is characterized by its lightweight and high performance, capable of running on a wide range of mainstream devices, including laptops, desktops, IoT devices, mobile devices, and the cloud, offering users a broader range of application scenarios and choices.
The development and dissemination of artificial intelligence technology will bring more innovation and possibilities to various industries. NVIDIA plans to hold the GTC 2024 conference from March 18 to 21 at the San Jose Convention Center, where it will announce the latest breakthroughs in accelerated computing, generative AI, and robotics.
