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MediaTek, Nvidia Join Hands

The company reiterated latest announcements including MediaTek Dimensity 9300 and 8300 chipsets, combing generative AI capabilities….reports Asian Lite News

Chip making giant MediaTek on Monday said that it has partnered with chip maker Nvidia to provide a global one-stop shop for the automotive industry, designing the next-gen of intelligent, always-connected vehicles with the most advanced AI, connectivity, and computing capabilities.

At the 13th chapter of its Technology Diaries, the company outlined its commitment to drive the adoption of future-ready technologies and advancements across 5G, Generative AI, Satellite connectivity, Automotive, Cloud Computing, Connectivity and advanced 5G solutions across 5G FWA.

The company also reiterated latest announcements including MediaTek Dimensity 9300 and 8300 chipsets, combing generative AI capabilities.

“As we look forward to the next five years, we are excited to dive deeper into next-gen technology advancements to drive leadership in the Generative AI era. Our latest innovations indicate our commitment to powering incredible experiences across our diverse technology portfolio,” Anku Jain, Managing Director, MediaTek India, said at the event.

According to the company, MediaTek Dimensity Auto is a range of new automotive solutions with a comprehensive portfolio including Dimensity Auto Cockpit, Dimensity Auto Connect, Dimensity Auto Drive, and Dimensity Auto Components to empower smart vehicle technology innovation.

The event saw insightful interactions on smartphones, smart devices, networking & connectivity, MediaTek leveraging Meta’s Llama 2, and 5G Satellite NTN.

“For any electronics device, we believe that personalised experiences are going be the real differentiator for consumers going forward. That means deeper integration of advanced technologies leveraging artificial intelligence leading to a seamless, reliable, and personalised experience with a relentless focus on ultra-fast connectivity,” said Tarun Pathak, Research Director at Counterpoint Research.

The event also witnessed insightful discussions on the transformative role of technology in everyday life.

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Nvidia’s Q3 Surge Over Rivals

Nvidia’s revenue was $18.12 billion in the third quarter of this year, with a profit of $10.42 billion…reports Asian Lite News

Graphics chip giant Nvidia has become the most profitable semiconductor firm in the third quarter (Q3) of this year, surpassing Intel, Samsung, and Taiwan Semiconductor Manufacturing Company (TSMC).

Taipei-based financial analyst Dan Nystedt compiled financial results from Intel, Nvidia, Samsung Semiconductor, and TSMC for all quarters since Q1 2021, and the figures showed that Nvidia has surpassed all others to become the world’s most profitable chip company.

“Nvidia swooped in and took the third quarter chip industry revenue crown, beating out TSMC, Intel and Samsung as the generative AI trend continues to strengthen,” Nystedt posted on X.

“Nvidia could win second place in full-year chip revenue in 2023, beating Intel and Samsung, while TSMC remains on track to take the title,” he added.

The news was first reported by SamMobile.

Nvidia’s revenue was $18.12 billion in the third quarter of this year, with a profit of $10.42 billion, a 206 per cent (year-over-year) increase, with AI chips for data centres accounting for the majority of the profit.

In comparison, TSMC, the world’s largest contract chip manufacturer, generated $17.28 billion in revenue and $7.21 billion in profit. Intel’s revenue for the third quarter of 2023 was $14.16 billion, but it lost $8 million.

Samsung Semiconductor, Samsung’s chip designing and manufacturing arm, had revenue of $12.52 billion but losses of $2.86 billion.

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Nvidia Rakes in $6.1B Profit Amid Gaming’s Mainstream Surge

The company reported data centre revenue of $10.32 billion, up 171 per cent from year ago….reports Asian Lite News

Graphics chip giant Nvidia made $6.188 billion in profit for its Q2 earnings — up a massive 843 per cent (year-over-year), as gaming become mainstream.

The company reported revenue of $13.51 billion for the quarter ended June 30, up 101 per cent from a year ago and up 88 per cent from the previous quarter. Gaming revenue was up 22 per cent (year-over-year) to reach $2.48 billion.

The company reported data centre revenue of $10.32 billion, up 171 per cent from year ago.

“A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” said Jensen Huang, founder and CEO of Nvidia.

The company expects revenue for the next quarter to be $16 billion.

“There is tremendous demand for Nvidia accelerated computing and AI platforms. Our supply partners have been exceptional in ramping capacity to support our needs,” said Colette Kress, Executive Vice President and Chief Financial Officer.

“We expect supply to increase each quarter through next year. By geography, data centre growth was strongest in the U.S. as customers direct their capital investments to AI and accelerated computing,” she informed.

Consumer internet companies also drove the very strong demand for Nvidia.

“Their investments in data centre infrastructure purpose-built for AI are already generating significant returns. For example, Meta recently highlighted that, since launching reels and AI recommendations, have driven a more than 24 per cent increase in time spent on Instagram,” Kress informed.

In May, Nvidia temporarily became a $1 trillion company in the generative artificial intelligence (AI) tools.

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Top 25 tech giants defy economic headwinds

Graphics chip major Nvidia gained over 50 per cent in market cap in Q2 and almost 200 per cent since January….reports Asian Lite News

Despite the economic downturn, top 25 global technology companies managed to gain more than $2 trillion in valuation during a challenging second quarter (Q2) this year, a report showed on Thursday.

Overall, the top 25 tech companies gained a whopping $4.5 trillion in the first half (H1) of 2023, reveals GlobalData, a leading data and analytics company.

Graphics chip major Nvidia gained over 50 per cent in market cap in Q2 and almost 200 per cent since January.

“Nvidia continued to spearhead the surge. The company, which witnessed over 90 per cent increase in market value in Q1 2023, had another impressive quarter, recording a 52 per cent increase in market value in Q2 2023,” said Gracio Benher, business fundamentals analyst at GlobalData.

Other companies, which had seen impressive gains in stock values in Q2 2023 include Meta (33.8 per cent), Oracle (28.9 per cent), and Amazon (26.4 per cent). They recorded overall gains of 130 per cent, 45 per cent and 56.1 per cent, respectively, since the beginning of 2023.

The prediction of a global recession and the Federal Reserve (Fed) interest-rate induced spending squeeze saw tech stocks experiencing a tipsy-topsy journey during most part of H1 2023.

However, it did not deter the top companies gain record valuation.

Meta has gained the approval of investors, after the company’s efficiency initiatives showed positive impact on the latest quarter results, with other factors being improved monetisation from reels content and enhanced ad targeting.

At the other extreme, Tencent, Qualcomm and Cisco witnessed their market value eroding during Q2 2023, said the report.

Tencent, which saw its market value recovering in Q1 2023, slipped back to Q4 2022 level by the end of Q2 2023, impacted by a slowdown in Chinese economy, heavy sell-off by Prosus, one of its major stakeholders, and fear among investor community about potential sanctions that restrict exporting of select chips into China.

Weak demand for smartphones and tablets impacted Qualcomm’s top-line performance in recent quarters, impacting its market value.

“Looking ahead, tech companies offering hardware and software solutions for AI tools and cloud-based solutions are likely to witness market rally for their stocks,” said Benher.

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Tech majors unite to boost next-gen AR

The alliance seeks to standardise the 3D ecosystem by advancing the capabilities of Open Universal Scene Description (OpenUSD)….reports Asian Lite News

Tech majors like Apple, Pixar, Adobe, Autodesk and NVIDIA, along with the Joint Development Foundation (JDF) which is an affiliate of the Linux Foundation, on Tuesday announced the Alliance for OpenUSD (AOUSD) to promote the standardisation, development, evolution, and growth of Pixar’s Universal Scene Description technology.

The alliance seeks to standardise the 3D ecosystem by advancing the capabilities of Open Universal Scene Description (OpenUSD).

By promoting greater interoperability of 3D tools and data, the alliance will enable developers and content creators to describe, compose, and simulate large-scale 3D projects and build an ever-widening range of 3D-enabled products and services.

“OpenUSD will help accelerate the next generation of AR experiences, from artistic creation to content delivery, and produce an ever-widening array of spatial computing applications,” said Mike Rockwell, Apple’s vice president of the Vision Products Group.

“Apple has been an active contributor to the development of USD, and it is an essential technology for the groundbreaking visionOS platform, as well as the new Reality Composer Pro developer tool. We look forward to fostering its growth into a broadly adopted standard,” he added.

The alliance will develop written specifications detailing the features of OpenUSD.

This will enable greater compatibility and wider adoption, integration, and implementation, and allows inclusion by other standards bodies into their specifications.

The Linux Foundation’s JDF was chosen to house the project, as it will enable open, efficient, and effective development of OpenUSD specifications, while providing a path to recognition through the International Organisation for Standardisation (ISO).

AOUSD will also provide the primary forum for the collaborative definition of enhancements to the technology by the greater industry.

“We open-sourced the project in 2016, and the influence of OpenUSD now expands beyond film, visual effects, and animation and into other industries that increasingly rely on 3D data for media interchange,” informed Steve May, Chief Technology Officer at Pixar and Chairperson of AOUSD.

Guido Quaroni, Senior Director of Engineering, 3D&I at Adobe said that leveraging a common 3D data representation during the creative process multiplies the value brought by each package and device.

“OpenUSD was created to be one of these ‘multipliers’ and we are excited to see a diverse group of companies joining together to support this innovative and open technology,” Quaroni added.

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Nvidia joins the $1 trillion club

It’s just the ninth company globally to have achieved such a feat, and only five other companies worldwide currently have the distinction…reports Asian Lite News

Booming demand for its AI chips has landed Nvidia a prime spot in one of the most exclusive clubs on Wall Street as the chipmaker hit a market cap of $1 trillion, CNN reported.

It’s just the ninth company globally to have achieved such a feat, and only five other companies worldwide currently have the distinction: Apple, Microsoft, Alphabet, Amazon and Saudi Aramco.

Nvidia took Wall Street by surprise last week when it reported gangbusters earnings and an exceedingly strong revenue forecast for the year ahead. Fuelled largely by the recent boom in AI, the report pushed share price higher and secured its position as the one of the largest publicly traded companies in the world, CNN reported.

Nvidia makes chips that power generative AI, a type of artificial intelligence that can create new content, such as text and images, in response to user prompts. That’s the kind of AI underlying ChatGPT, Google’s Bard, Dall-E and many of the other new AI technologies.

Last quarter, the company’s profit surged 26 per cent to $2 billion, and sales rose 19 per cent to $7.2 billion, each easily surpassing Wall Street analysts’ forecasts. Nvidia’s outlook for the current quarter was also significantly — about 50 per cent — higher than analysts’ predictions. Its stock is up about 180 per cent so far this year, CNN reported.

Nvidia gave jaw-dropping robust guidance that will be heard around the world and shows the historical demand for AI happening now in the enterprise and consumer landscape,” said Dan Ives, an analyst at Wedbush Securities. “For any investor calling this an AI bubble (crypto, metaverse, now AI bubble thesis) we would point them to this Nvidia quarter and especially guidance which cements our bullish thesis around AI and speaks to the 4th Industrial Revolution now on the doorstep with AI.”

Nvidia shares need to remain above $404.86 to retain a trillion dollar market cap. Shares of the stock are currently trading at $408.50, CNN reported.

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