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Core News Facts
Nvidia (NASDAQ: NVDA) reported a 62% year-over-year revenue increase to $57 billion in Q3 2023, with expectations of rising to $65 billion in Q4. CEO Jensen Huang noted the company has sold out of its cloud computing hardware due to high demand.
Taiwan Semiconductor Manufacturing (NYSE: TSM) also achieved impressive results, with a 41% revenue growth in Q3 2023. The company is advancing its manufacturing technology to produce 2nm chips that will consume 25% to 30% less power compared to current 3nm chips.
Alphabet (NASDAQ: GOOGL) has shifted from an “AI loser” to a leader by enhancing its AI capabilities for its Google Search and cloud computing platform, aiming to capture significant market share in the growing AI sector.
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