Last week, Nvidia Corporation (NASDAQ: NVDA) reported staggering third-quarter results. Despite its reliance on Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM), Nvidia’s Data Center division drove this impressive growth, allowing the company to outshine its competitors, including TSMC, as well as Intel (NASDAQ: INTC), and Advanced Micro Devices, Inc. (NASDAQ: AMD). But, shares slumped upon news that Nvidia is delaying the launch of its new AI chip for China, touted as the most powerful one and one that complies with the latest U.S. chip export curbs. According to Reuters, launch has been rescheduled for the first quarter of 2024.
Third Quarter Results From Competitors
When comparing third quarter results, TSMC reported substantial revenues of $17.28 billion with profits of $ $6.69 billion. But, back in October, TSMC also reported its biggest profit drop in almost five years. TSMC reported also a revenue drop of 10.83% YoY but also that compared to the second…
2023-11-27 15:45:26
Post from finance.yahoo.com
