Nvidia closes in on chip revenue crown as AI booms

Industry and stock watchers surprised by speed of market growth

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Nvidia's revenue is expected to more than double in the fiscal year ending January 2024. © Reuters

KAZUYUKI OKUDAIRA, Nikkei senior staff writer

PALO ALTO, U.S. -- The semiconductor industry is poised to see a new revenue leader emerge for the first time in three decades that isn't Intel or Samsung Electronics after a year in which everyone was talking about artificial intelligence.

Nvidia holds a high market share in graphics processing units (GPUs), which have become vital to AI by providing the computing power for machine learning.

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