Increasing focus on the metaverse, a virtual world built on technologies like VR and augmented reality ( AR), is likely to create additional sources of demand for the company's data center chips. That development has helped to boost demand for Nvidia's chips used by data centers. In the report, the tech company gives an update on its share repurchase program. Demand for remote computing power increased substantially during the pandemic as more and more people began working from home and businesses were forced to shift certain operations online. Nvidia’s (NVDA) Q1 2023 earnings report was released on May 25, 2022. Both of those technologies are increasingly important for the rapidly growing data center market. It turns out that the robust computational capabilities employed by GPUs to power video games and graphics software are also well-suited for technologies like AI and machine-learning. Nvidia has traditionally specialized in making chips for the gaming and graphics industry, being a pioneer in the development of graphics processing units (GPUs). As mentioned above, investors will also be focusing on Nvidia's data center revenue.
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