Nvidia handily tops Q1 targets, credits sharp growth in deep learning tech

Graphics chipmaker Nvidia said the sharp growth of its deep learning technology helped the company wrap up its first fiscal quarter of 2017 above estimates. The Santa Clara, Calif.-based company reported a net income of $196 million, or 33 cents per share (statement). Non-GAAP earnings were 46 cents per share on revenue of $1.3 billion, up 13 percent year-over-year. Wall Street was looking for earnings of 32 cents per share with $1.26 billion in revenue. “Accelerating our growth is deep learning, a new computing model that uses the GPU’s massive computing power to learn artificial intelligence algorithms,” said Nvidia CEO and co-founder Jen-Hsun Huang, in a statement. “Its adoption is sweeping one industry after another, driving demand for our GPUs.” Nvidia has been vigorously chasing success in deep learning. Last…


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