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Nvidia Reports Record Profits and Revenue as AI Industry Surges

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Nvidia, the kingpin of chips powering artificial intelligence, released quarterly financial results on Wednesday that reinforced how the company has become one of the biggest winners of the artificial intelligence boom. It said demand for its products would fuel continued sales growth. The Silicon Valley chip maker has been on an extraordinary rise over the past 18 months, driven by demand for its specialized and costly semiconductors, used for training popular A.I. services like OpenAI’s ChatGPT chatbot. Nvidia’s valuation has surged more than 40 percent to $1.7 trillion since the start of the year, turning it into one of the world’s most valuable public companies.

Nvidia’s stock market gains are largely a result of repeatedly exceeding analysts’ expectations for growth, a feat that is becoming more difficult as they keep raising their predictions. On Wednesday, Nvidia reported that revenue in its fiscal fourth quarter more than tripled from a year earlier to $22.1 billion, while profit soared nearly ninefold to $12.3 billion. Revenue was well above the $20 billion the company predicted in November and above Wall Street estimates of $20.4 billion.

Nvidia predicted that revenue in the current quarter would total about $24 billion, also more than triple the year-earlier period and higher than analysts’ average forecast of $22 billion. Jensen Huang, Nvidia’s co-founder and chief executive, argues that an epochal shift to upgrade data centers with chips needed for training powerful A.I. models is still in its early phases. He predicts that this will require spending roughly $2 trillion to equip all the buildings and computers to use chips like Nvidia’s. Some analysts had predicted a sell-off after the Nvidia announcement, but shares increased more than 9 percent in after-hours trading.

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One factor driving Nvidia’s latest revenue growth is the ability of the company’s production partners, led by Taiwan Semiconductor Manufacturing Company, to boost supplies of Nvidia’s flagship A.I. chip, which commands prices ranging from $15,000 to $40,000. Mr. Huang said on a conference call with analysts on Wednesday that the availability of those chips had improved significantly, but noted that the company would soon introduce new products that would again be scarce. Giant cloud computing companies like Amazon, Google and Microsoft are designing their own A.I. chips to use in addition to Nvidia’s, and rival chipmakers keep introducing their own A.I. products.

Intel, which has long dominated the standard microprocessor chip industry but lags in A.I., marshaled an array of partners and potential customers in Silicon Valley on Wednesday to discuss its plans to offer manufacturing services, which could boost industry capacity to build A.I. chips. “Intel was the evil Borg of the industry at one time,” said Daniel Newman, chief executive of Futurum Research, which tracks the semiconductor industry. Now, he said, “companies are kind of coming together to make sure Nvidia doesn’t get too much more powerful.”

The Biden administration has raised another set of hurdles for Nvidia and other U.S. chip manufacturers, placing restrictions on their chip sales in China. Nvidia has responded by selling less-powerful versions of some products in the market. Still, the company said Wednesday that its sales to China had dropped to a mid-single-digit percentage of its data center chip revenues, from 19 percent in its 2023 fiscal year.

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Meanwhile, some experts worry that a global rollout of the company’s pricey, power-hungry chips will overtax countries’ power grids and budgets. Mr. Huang addressed some of those concerns in February at the World Governments Summit in Dubai. He said that Nvidia’s chips were cheap and efficient compared with using slower standard microprocessors to get the same work done — and that much faster chips were on the way, some of which the company is expected to unveil in March. “If you assume that computers never get any faster, you might come to the conclusion we need 14 different planets and three different galaxies and four more suns to fuel all this,” Mr. Huang said. “But obviously computer architecture continues to advance.”

In conclusion, Nvidia’s soaring profit and revenue amid the AI boom demonstrates the company’s leadership in the artificial intelligence market. Despite growing competition and geopolitical challenges, Nvidia continues to deliver impressive financial results, indicating its resilience and strong position in the industry. The company’s projected sales growth in the coming quarters further solidifies its status as a key player in the AI-driven future.

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Ruler Maintains Firm Control 30 Years After Rwandan Genocide.

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It has been 30 years since the Rwandan genocide, a dark chapter in history that saw the loss of hundreds of thousands of lives in a brutal campaign of violence. Today, Rwanda has emerged as a success story in Africa, with a thriving economy, stable government, and impressive infrastructure. Yet, behind this facade of progress lies a dark truth – the iron-fisted rule of President Paul Kagame.

Under Kagame’s leadership, Rwanda has seen remarkable development and modernization. The capital, Kigali, boasts gleaming towers, tech startups, and world-class facilities. The country has attracted investment, tourists, and admiration from international leaders. However, this progress has come at a steep cost – the stifling of dissent, crackdown on opposition, and allegations of human rights abuses.

Despite his undemocratic methods, Kagame has maintained a tight grip on power for three decades. His rule has been marked by a cult of personality, a suppression of free speech, and a firm control over all aspects of society. The government’s refusal to acknowledge ethnic divisions within the country has only heightened tensions and hindered reconciliation.

Critics argue that Kagame’s regime perpetuates the very divisions it claims to have eradicated after the genocide. Ethnic Tutsis dominate the government, while Hutus, the majority population, are marginalized and excluded from real power. Political opponents face arrest, torture, or worse, as seen in the case of Kizito Mihigo, a prominent singer who dared to speak out against the government’s narrative of unity.

The international community has long turned a blind eye to Kagame’s abuses, lauding his economic successes while ignoring his autocratic tendencies. Western leaders have praised him for his leadership after the genocide, but many now see his grip on power as a threat to Rwanda’s future stability. The recent crisis in neighboring Congo, where Rwanda is accused of supporting rebel groups, has raised concerns about Kagame’s regional ambitions and the potential for conflict.

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As Rwanda marks the 30th anniversary of the genocide, it is a moment of reckoning for Kagame and his regime. The international community must hold him accountable for his actions and press for greater respect for human rights and democracy in Rwanda. The legacy of the genocide looms large over the country, and true reconciliation can only be achieved through genuine political reform and a commitment to justice for all Rwandans.

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