Nvidia is riding the AI wave

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 23 August 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

The computer chipmaker Nvidia doubled its revenue from a year ago due to a surge in demand for special chips used to run AI systems like ChatGPT. We’ll get into the geopolitical backdrop of the current chip boom. And, half of today’s homebuyers are first-time purchasers despite a historically unaffordable housing market. We’ll unpack that paradox. Plus, have you played Tradle yet?

Here’s everything we talked about today:

- “Nvidia Revenue Doubles on Demand for A.I. Chips, and Could Go Higher” from The New York Times

- “Can I Afford a House: Higher Mortgage Rates Have Not Deterred Some Buyers” from Bloomberg

- “The Housing Market Has Never Been This Unaffordable for New Buyers” from Business Insider

- “Home-builder ETFs jump after data show new-home sales rose in July despite high mortgage rates” from MarketWatch

- “Ford Confronts Strange, Ear-Piercing Static in F-150 Trucks” from The Wall Street Journal

- Play the Observatory of Economic Complexity’s Tradle game

Got a question for the hosts? Leave us a voicemail at 508-U-B-SMART or email us at makemesmart@marketplace.org.

Transcript

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0:00.0	I can. Can you hear me? There she is. Sweet. It turns out you have to plug the microphone into the
0:08.4	Comrex. Oh. And with that we're on our way everybody. Hey, I'm Kyle Rizzo. Welcome back to Make Me Smart
0:16.3	where we make the day make sense. Oh my god. I don't even have my script up. Hi. That's all right.
0:22.2	We can win it. Go ahead. You know what to do for me. Go ahead. Keep going. Yeah. Now I made me
0:26.2	Scott. Today we're going to give you a news fix and then we're going to do some smiles and we'll
0:31.5	get out of your way. And I'll find my script eventually. There you go. There you go. Kimberly,
0:36.5	by the way, sound vacation trekking across the Himalayas. I don't even know. I couldn't even tell you.
0:41.6	Couldn't not even tell you what you're looking for. I keep looking for new Instagram
0:45.7	real from her and it doesn't show up. Okay. Well, I'll tell you what while you find your copy
0:51.2	the script, I will do my news and then you can do your news. How about that? All right. Sounds good.
0:56.4	Okay. So mine is a little bit geeky, but also a little bit geopolitical. I'm speaking here of
1:02.2	the earnings report from Nvidia today. The AI chipmaker, which has been going great,
1:09.4	great, great guns ever since AI became the new, new thing and video reporter profits today.
1:16.8	Sales for the current quarter. Read the subhead in the New York Times. Sales for the
1:20.2	current quarter were nearly triple their total a year ago, which obviously as I just said,
1:24.8	makes chips essential to the development of AI systems. So everybody's piling into AI.
1:30.0	Nvidia is by miles the leader in AI specific chips, right? If you think of Intel back in the
1:38.2	mid and early 80s and everybody getting into computers, then that's sort of this on steroids. So
1:45.5	there's that number one. AI is a huge business opportunity. Number two, I mentioned this because
1:51.9	the Secretary of Commerce, Gina Remundo is going to Beijing in Shanghai this week to talk about
1:58.1	among other things, the US pushed to develop its own chip industries and its own ways to do AI
2:05.4	and all the big nifty computer stuff. But also she will be responding to the Chinese government,
	...

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