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Nvidia’s Cloud Still Has a Big Silver Lining

A painful lesson for Nvidia on the way to becoming a $100 billion company: sometimes it’s the little things that count.

Take, for instance, Nvidia’s business selling chips for data centers. It is small, accounting for just 16% of the company’s trailing 12-month revenue. It is also growing quickly, more than doubling on a year-over-year basis for the last five quarters. That success is central to the belief that Nvidia’s chips will be the key components in artificial intelligence systems of the future. This thesis has…

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