AI demand

Oracle said on Monday it is set to make a joint announcement with chip-giant Nvidia, and it beat estimates for quarterly profit, riding on the generative AI demand boom, sending shares up nearly 14% in extended trading.The late-day rally in Oracle's shares added more than $40 billion to its stock market value.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk…

Broadcom Inc., a chip supplier for Apple Inc. and other big tech companies, predicted that AI spending would fuel growth more quickly than expected this year, even as sluggish demand in other areas weighs on semiconductor sales.The company's semiconductor division posted revenue of $7.39 billion in the fiscal first quarter, Broadcom said Thursday, missing the $7.7 billion projected by analysts. Still, the chipmaker remains on track for $50 billion in sales during fiscal 2024, which ends in October. That's in line with…

Nvidia on Wednesday forecast a roughly threefold surge in quarterly revenue that handily beat estimates as the company banked on towering demand for its industry-leading artificial-intelligence chips, sending its shares up 10% after-hours.The already-hefty demand for the company's data center chips and graphics processing units (GPUs) continues to grow as firms scramble to expand their AI offerings. Nvidia's silicon dominates the global market for AI chips, where it counts the likes of Microsoft among its…