Nvidia lists Huawei as top competitor

According to Reuters, NVIDIA listed Huawei as a major competitor in multiple fields, including artificial intelligence chips, for the first time in a filing with the U.S. Securities and Exchange Commission (SEC) late on February 21. opponent.

Nvidia said Huawei is competitive in providing chips designed for artificial intelligence, such as graphics processing units (GPUs), central processing units (CPUs) and network chips. Nvidia also positions Huawei as a cloud services company, and Huawei is designing its own hardware and software to improve artificial intelligence computing.

On December 6 last year, NVIDIA CEO Huang Renxun said that Huawei is one of NVIDIA’s “very strong” competitors in the competition to produce the best artificial intelligence (AI) chips . Huang Renxun said that Huawei, Intel and a growing number of semiconductor startups pose serious challenges to NVIDIA’s dominant position in the artificial intelligence accelerator market. Huawei has grown into China's de facto chip technology champion.

On February 22, Nvidia declined to comment.

Image source: NVIDIA

The Ascend series of chips developed by Huawei are competitors of Nvidia's AI chip series. Huawei's main product, the 910B chip, is the main competitor to Nvidia's A100 chip, which was launched about three years ago. Analysts estimate that China's artificial intelligence chip market is worth $7 billion.

In addition to Huawei, other competitors identified by Nvidia include Intel, Advanced Micro Devices, Broadcom and Qualcomm. Nvidia also pointed to several large cloud computing companies, such as Amazon and Microsoft.

As demand for artificial intelligence continues to be strong, Nvidia's revenue forecast exceeded analysts' expectations.

Image source: NVIDIA

NVIDIA announced that revenue for the fourth quarter ended January 28, 2024 was US$22.1 billion, an increase of 22% from the previous quarter and an increase of 265% from the same period last year. Revenue in fiscal 2024 increased 126% to $60.9 billion.

Image source: NVIDIA

Among them, Nvidia’s automotive business revenue in the fourth quarter was US$281 million, an increase of 8% from the previous quarter and a decrease of 4% from the same period last year; the full-year revenue increased by 21% to US$1.1 billion.

After releasing its financial report, NVIDIA's stock price soared 16.4% on February 22, closing at US$785.38, setting a record closing high, and its market value rose to US$1.96 trillion. On that day, Nvidia's market value increased by $277 billion, setting the largest single-day gain in Wall Street history.