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Nvidia announces financial results for second quarter fiscal 2024

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Re: Nvidia announces financial results for second quarter fiscal 2024

#151

Post by tric »

xnx wrote: post #25

The good new is that Nvidia's high GPU prices motivate everyone (Intel, AMD, ARM, Google, etc.) to try and tackle the problem by making new chips, making more efficient use of current chips, etc. For all the distributed computing efforts that have existed (prime factorization, SETI@Home, Bitcoin, etc.), I'm surprised there isn't some way for gamers to rent out use of their GPU's when idle. It wouldn't be efficient, b…

> I'm surprised there isn't some way for gamers to rent out use of their GPU's when idle.

https://rendernetwork.com/

"The Render Network® Provides Near Unlimited Decentralized GPU Computing Power For Next Generation 3D Content Creation."

"Render Network's system can be broken down into 2 main roles: Creators and Node Operators. Here's a handy guide to figure out where you might fit in on the Render Network:

Maybe you're a hardware enthusiast with GPUs to spare, or maybe you're a cryptocurrency guru with a passing interest in VFX. If you've got GPUs that are sitting idle at any time, you're a potential Node Operator who can use that GPU downtime to earn RNDR."

Re: Nvidia announces financial results for second quarter fiscal 2024

#152

Post by midhir »

tric wrote: post #148
issafram wrote: post #135

Earlier quoted context omitted.

Not that it's much better, but wouldn't it be a duopoly considering that AMD is also a big player? Hopefully Intel continues to improve it's GPU offerings

> wouldn't it be a duopoly considering that AMD is also a big player? I don't think GPUs are commoditized. You can't swap a Nvida GPU with a AMD GPU, and get the same performance/results.

AMD seem to be catching up quickly lately. I'm running Stable Diffusion, Llama-2, and Pytorch on a 7900XTX right now. Getting it up and running even on an unsupported Linux distro is relatively straightforward. Details for Arch are here: https://gitlab.com/-/snippets/2584462

The HIP interface even has almost exact interoperability with CUDA, so you don't have to rewrite your code.

Re: Nvidia announces financial results for second quarter fiscal 2024

#153

Post by rvz »

pb7 wrote: post #121
gorenb wrote: post #54

Earlier quoted context omitted.

Stocks are lottery tickets…

Not if you understand what stocks are and how betting on biotech stocks is not a wise investment.

My point is, 8% on earnings is hardly volatile.

> Not if you understand what stocks are and how betting on biotech stocks is not a wise investment.

So you're giving investment advice for putting money in NVDA stock at the top or all time highs, right now on earnings as a 'wise investment' to make 8% (after hours) when others are clearly taking their money out of the market.

Unless you already invested in NVDA stock last year, that move is gone and you're just telling retail late comers to throw money at NVDA at the top for others to take their profits.

Re: Nvidia announces financial results for second quarter fiscal 2024

#154

Post by capableweb »

issafram wrote: post #135
TheAlchemist wrote: post #124

What's also pretty interesting that they actually didn't sell more chips this quarter - they ... just pretty much doubled the prices (hence the huge margin). This is what having a monopoly looks like ! This is also why companies that manufacture their cards didn't report any uptick in profits. I'm wondering how this play out in some months ? Do they have any pricing power with respect to NVidia ? Or NVidia could just…

Not that it's much better, but wouldn't it be a duopoly considering that AMD is also a big player? Hopefully Intel continues to improve it's GPU offerings

> Not that it's much better, but wouldn't it be a duopoly considering that AMD is also a big player?

Not sure AMD would be considered a big player, what would be the percentage threshold for that?

According to the Steam Hardware (& Software) Survey (https://store.steampowered.com/hwsurvey/Steam-Hardware-Softw...), ~75% of computers with Steam running has a NVIDIA GPU, while ~15% has a AMD GPU.

AMD is the closest to a competitor NVIDIA has, but they are also very far away from even being close to their market-share.

I'm sure in AI/ML spaces, NVIDIA holds a even higher market-share due to CUDA and the rest of the ecosystem, at least in gaming things are pretty much "plug and play" when it comes to switching between AMD/NVIDIA hardware, but no such luck in most cases with AI/ML.

Re: Nvidia announces financial results for second quarter fiscal 2024

#155

Post by ikrenji »

lotsofpulp wrote: post #122
Uehreka wrote: post #74

Earlier quoted context omitted.

They’re all pretty motivated, they’ve been motivated for years, and almost nothing is happening. This situation isn’t exactly a poster child for the Efficient Markets Hypothesis. Every year just sounds like “Nvidia’s new consumer GPUs are adding new features, breaking previous performance ceilings, running games at huge resolutions and framerates. Their datacenter cards are completely sold out because they can spin s…

Efficient market hypothesis is unrelated to Nvidia’s competitors being unable to offer a competing product so far. https://www.investopedia.com/terms/e/efficientmarkethypothes... > The efficient market hypothesis (EMH), alternatively known as the efficient market theory, is a hypothesis that states that share prices reflect all information and consistent alpha generation is impossible.

you know what he meant...

Re: Nvidia announces financial results for second quarter fiscal 2024

#156

Post by [deleted] »

mholm wrote: post #9
NickC25 wrote: post #3

Absolutely monster numbers. The aftermarket trading is up over 8% as of right now, roughly $41 USD to approximately $513 a share. Insane. Anyone who is a lot more versed in company valuation methodology see this as being near peak value, or does Nvidia have a lot more room to run?

Nvidia is the pickaxe seller in a gold rush. Their valuation is very much tied to how big AI grows in the next several years, and how quickly competitors can arise. I could easily see them continuing to go up from here, especially if AI keeps on expanding utility instead of leveling off as some fear.

[deleted]

Re: Nvidia announces financial results for second quarter fiscal 2024

#157

Post by kimixa »

Uehreka wrote: post #74
xnx wrote: post #25

The good new is that Nvidia's high GPU prices motivate everyone (Intel, AMD, ARM, Google, etc.) to try and tackle the problem by making new chips, making more efficient use of current chips, etc. For all the distributed computing efforts that have existed (prime factorization, SETI@Home, Bitcoin, etc.), I'm surprised there isn't some way for gamers to rent out use of their GPU's when idle. It wouldn't be efficient, b…

They’re all pretty motivated, they’ve been motivated for years, and almost nothing is happening. This situation isn’t exactly a poster child for the Efficient Markets Hypothesis. Every year just sounds like “Nvidia’s new consumer GPUs are adding new features, breaking previous performance ceilings, running games at huge resolutions and framerates. Their datacenter cards are completely sold out because they can spin s…

Tech design and development seems, to me at least, pretty much naturally opposed to the "being kept in check with competition" state - as design isn't really a cost that scales per-unit, the company that sells slightly more can afford to put more into development at the same per-unit margin, which snowballs. At some point, they own the entire market - or enough that they functionally control it, and start leveraging this position. I'd argue we're seeing this from Nvidia right now.

People talk about AMD being competition - but from most stats I've seen, they're ~10% of dGPU sales, with Nvidia being the other 90% (with new Intel offerings being pretty much noise now). That means that if they invest the same proportion into development, NVidia nearly have 10x the resources.

It may be that tech companies like this would "naturally" form a monopoly without outside (IE government) interference, as the only reason that multiplier of development resources doesn't completely crush new entrants is rather extreme mismanagement, or a new segment is created where the design resource don't really cross over that much.

I don't see anything like that happening in the short term, if anything there seems to be more opportunity for cross pollination of development within these corporations, as there's a fair bit of design similarities between various silicon (GPUs, CPUs, accelerators for the current ML techniques etc.) that may encourage more consolidation in the whole semi market to take advantage of that, not less. But again the only thing stepping in the way of that seems to be governments trying to keep national interests, like the blocking of NVidia buying ARM to pull in one of the big CPU players. Plus all their other IP that they may benefit from, like low power GPU designs or other accelerators ARM have designed.

Re: Nvidia announces financial results for second quarter fiscal 2024

#158

Post by xwdv »

TechnicolorByte wrote: post #34

Incredible company. It’s absolutely insane how far ahead they are with the investments they made over a decade ago. So nice to see a “hard” engineering (from silicon to software) SV-founded company getting all this recognition. Especially after what has felt like a decade of SV hype software companies dominating the mainstream financial markets pre-pandemic with a spate of overpriced IPOs or large ad-revenue generati…

Hard times make hard companies. Hard companies make good times. Good times make soft companies. Soft companies make hard times.

Re: Nvidia announces financial results for second quarter fiscal 2024

#159

Post by swyx »

capableweb wrote: post #154
issafram wrote: post #135

Earlier quoted context omitted.

Not that it's much better, but wouldn't it be a duopoly considering that AMD is also a big player? Hopefully Intel continues to improve it's GPU offerings

> Not that it's much better, but wouldn't it be a duopoly considering that AMD is also a big player? Not sure AMD would be considered a big player, what would be the percentage threshold for that? According to the Steam Hardware (& Software) Survey ( https://store.steampowered.com/hwsurvey/Steam-Hardware-Softw... ), ~75% of computers with Steam running has a NVIDIA GPU, while ~15% has a AMD GPU. AMD is the closest to…

> ~75% of computers with Steam running has a NVIDIA GPU, while ~15% has a AMD GPU.

and thats the consumer market, which lets say is 30% of the B2B enterprise market, which is probably even higher % nvidia

Re: Nvidia announces financial results for second quarter fiscal 2024

#160

Post by haldujai »

danielmarkbruce wrote: post #141
haldujai wrote: post #118

Earlier quoted context omitted.

What is full steam ahead for enterprises? It's not like they're throwing autoregressive LLMs into production any time soon. In any case Nvidia is expecting to ship ~550k H100s in 2023, hardly enough to satisfy every user. Tesla decided to in-house. TPUv4 and Gaudi2 exceeded A100 performance, they just never hit scale or the market and then Hopper added optimization for transformers rendering these chips relatively ob…

Large enterprises are already putting them into production. I have direct experience with it. It's not unassailable. But it's going to take a lot to make any difference to Nvidia's volume or pricing, let alone a meaningful difference. They already face serious competitors in google and aws with TPU and inferentia, but those competitors are at a pretty big disadvantage for now (and others too). The cuda ecosystem is a…

> Large enterprises are already putting them into production. I have direct experience with it.

For what function have you experienced LLMs being used at significant scale in production right now? It seems unlikely most enterprises have built up sufficient technical know-how to run these workloads in-house already.

> They already face serious competitors in google and aws with TPU and inferentia

TPUv4s aren't widely available and are not competitive with Hopper. Inferentia isn't for training and is also not competitive on throughput.

> The cuda ecosystem is a big advantage.

Is it really though? A year ago it wasn't the case (see TPUs). Nvidia hasn't maintained a stranglehold on the software stack.

> Nvidia has a lot of leverage with semi manufacturers because of volume.

With TSMC*. If we believe Pat Gelsinger, Intel is starting to catch-up and their roadmap would place them ahead of TSMC in H2 2024.

> They have brand recognition. You can buy and own Nvidia chips v tpu and inferentia.

Intel, AMD and Google don't have brand recognition? There isn't a competitive alternative today for sale or rent, that doesn't mean this can't/won't change. It also doesn't mean they won't become available for enterprise purchase when we're talking about 60B/year in revenue.

> It's... a tough road ahead for competitors.

While hard I disagree that their moat is as wide as being touted. At the end of the day, whoever gets the most FLOPS, can deliver product faster and/or is cheaper will win as long as it's trivial to migrate workloads.

I really don't believe anyone actually cares who the manufacturer is.

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