SEOUL / LONDON (IT BOLTWISE) – NVIDIA posts record third-quarter profit thanks to rising demand for AI chips. At the same time, VISA increased its revenue in the fourth quarter, supported by stable consumer spending. These developments underscore the growing importance of artificial intelligence and stable consumer spending for the global economy.
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The technological landscape is currently being largely shaped by artificial intelligence, which is also reflected in NVIDIA’s recent business results. The main supplier of high-bandwidth memory products for NVIDIA posted record profits in the third quarter. This development is primarily due to the heavy investments in AI by large global tech companies, which are further fueling demand for the technically sophisticated AI chips.
At the same time, VISA increased its sales in the fourth quarter of the financial year. This positive development was supported by stable consumer spending, which led to higher payment volumes. VISA posted a profit of $5.09 billion, down from last year’s $5.32 billion but still beating analysts’ expectations. Adjusted earnings per share were $2.98, just above the $2.97 expected by analysts.
VISA’s revenue rose 12 percent to $10.72 billion, while payment volume increased 9 percent. These figures highlight robust demand for payment services, supported by continued stability in consumer spending. Analysts had originally expected sales of $10.62 billion, which underlines the positive surprise.
The developments at NVIDIA and VISA show how different industries can benefit from digitalization and artificial intelligence. While NVIDIA benefits from increasing demand for AI chips, VISA shows that traditional financial service providers can also benefit from stable consumer spending and the digitalization of payments. These trends could further strengthen in the coming years as both the demand for AI technologies and the digitalization of the financial sector continue to increase.
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