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Key Points
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Morgan Stanley estimates AI could generate $40 trillion in efficiencies.
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Palantir’s revenue grew 48% year-over-year in Q2 and has a $10 billion contract with the U.S. Army.
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Nvidia’s data center revenue rose 56% year-over-year, driven by AI chip demand.
Morgan Stanley projected that long-term efficiencies from artificial intelligence (AI) could be worth $40 trillion, highlighting the transformative potential of AI technology for the economy. Major tech companies are investing heavily in data centers to cater to this burgeoning demand.
Palantir Technologies reported a 48% increase in revenue for Q2 and has secured a significant 10-year, $10 billion contract with the U.S. Army, nearly triple its trailing-12-month revenue of $3.44 billion. In comparison, Nvidia saw a 56% rise in data center revenue, benefiting from high demand for its AI chips, crucial for competitive data processing.
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