NVIDIA Corporation (NASDAQ:NVDA) is on course to become the first US$1tn chipmaker as it looks to capitalise on the booming artificial intelligence markets.
Shares in the US company jumped 4% in pre-market trading, taking it past the US$1tn mark.
In the year so far, the stock is up 172%, boosted by last week’s first-quarter earnings that shattered expectations.
The company posted revenue of $7.2bn, above the consensus analyst expectation of $6.5bn.
WPP and Nvidia ink AI digital advertising deal
WPP PLC (LSE:WPP) and Nvidia Corp agreed on Tuesday to develop a platform that will create automated digital adverts using artificial intelligence.
The world's largest advertising company said that integrating 3D tools with generative AI would allow its creative teams to produce commercial content, such as images and videos, more quickly.
The tool will be based on Nvidia’s Omniverse Cloud platform, an end-to-end suite of cloud services built for designing and publishing 3D internet applications.
Jensen Huang, the billionaire founder and chief executive of Nvidia, announced the engine during his keynote address at Computex, an annual conference in Taipei.
"“With Omniverse Cloud and generative AI tools, WPP is giving brands the ability to build and deploy product experiences and compelling content at a level of realism and scale never possible before,” he said.
“Generative AI is changing the world of marketing at incredible speed,” said Mark Read, CEO of WPP. “Our partnership with NVIDIA gives WPP a unique competitive advantage through an AI solution that is available to clients nowhere else in the market today.
Shares in WPP rose 1.6% to 1.6%.