The A.I. chip company Nvidia said its revenue surged more than threefold to $22.1 billion in the fourth quarter. The company predicted that profits will continue to rise in the current quarter. Nvidia’s valuation has surpassed $1.7 trillion, making it one of the most valuable companies in the world. Its rapid growth has caused its stock market gains to increase by 40%. Although Nvidia has been dominating the A.I. chip industry, other companies are starting to design their own A.I. chips. Additionally, the Biden administration has imposed restrictions on the sale of U.S. chips in China, forcing Nvidia to sell less powerful products in the market.
