On Wednesday, local time, chip giant Nvidia Corp (Nvidia Corp.) Announces FY 2023 Fourth Quarter Results Ended January 29, 2023。Total Nvidia Q4 revenue fell 21% year-over-year to 60.$5.1 billion, but better than market expectations of $6 billion, while net profit fell 53% year-on-year to 14.$1.4 billion。It was the company's second decline in 13 quarters.。

Nvidia relies on the PC market for a large portion of its sales, as the company's gaming business relies heavily on the PC industry, with revenue of 18 in the fourth quarter..$300 million, down 46% YoY。Still, it exceeded the average estimate of $1.6 billion.。

While Q4 saw a decline in overall revenue levels, Nvidia said in a statement on Wednesday that the company would have sales of $6.5 billion in the three months to April, compared with an average analyst estimate of 63..$500 million up.。

In addition, Nvidia announced its own artificial intelligence cloud service。Nvidia CEO and co-founder Jensen Huang said the company is working with Oracle, Microsoft and Alphabet-owned Google to provide the ability to use Nvidia GTX machines for AI processing through simple browser access.。The new platform will be provided by other cloud service providers and will help companies without technical expertise build their own infrastructure.。

Huang said in an interview that interest in ChatGPT has opened business leaders' eyes to the power of artificial intelligence.。But now, it's mostly general-purpose software。The value, he says, will come from tailoring to the company's own needs so they can improve services and products.。

"This is a moment of awakening in the capabilities of artificial intelligence," he said.。"The challenge is that no one AI model is right for everyone.。This is really where we can bring great value to the industry。"

Shares of Nvidia rose sharply in U.S. stocks on Wednesday after announcing an upbeat sales outlook for the quarter and plans for the future, suggesting a boost to artificial intelligence processors helped offset weak demand for PC chips.。

This shows that Nvidia's efforts to enter AI computing chips are paying off.。Under CEO Renxun Huang's leadership, the company has leveraged its dominance in graphics processors to gradually translate into a strong position in the growing market for AI hardware.。And NVIDIA's graphics processing units (GPUs) are ideal for training and running machine learning software, allowing computers to understand large amounts of data and train the software to make decisions.。

This year, Nvidia has been the best performing stock in the Philadelphia Stock Exchange Semiconductor Index, up 42% year-to-date。Investors have flocked to Nvidia - making it once again the world's most valuable chipmaker - as they bet that demand for artificial intelligence systems such as ChatGPT will increase orders for the semiconductor leader.。