Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

NVIDIA Announces Financial Results for First Quarter Fiscal 2022

Published

3 years ago

on

  • Record revenue of $5.66 billion, up 84 percent from a year earlier
  • Record Gaming revenue of $2.76 billion, up 106 percent from a year earlier
  • Record Data Center revenue of $2.05 billion, up 79 percent from a year earlier

SANTA CLARA, Calif., May 26, 2021 (GLOBE NEWSWIRE) — NVIDIA (NASDAQ: NVDA) today reported record revenue for the first quarter ended May 2, 2021, of $5.66 billion, up 84 percent from a year earlier and up 13 percent from the previous quarter, with record revenue from the company’s Gaming, Data Center and Professional Visualization platforms.

GAAP earnings per diluted share for the quarter were a record $3.03, up 106 percent from a year ago and up 31 percent from the previous quarter. Non-GAAP earnings per diluted share were $3.66, up 103 percent from a year earlier and up 18 percent from the previous quarter.

“We had a fantastic quarter, with strong demand for our products driving record revenue,” said Jensen Huang, founder and CEO of NVIDIA.

“Our Data Center business continues to expand, as the world’s industries take up NVIDIA AI to process computer vision, conversational AI, natural language understanding and recommender systems. NVIDIA RTX has reinvented computer graphics and is driving upgrades across the gaming and design markets. Our partners are launching the largest-ever wave of NVIDIA-powered laptops. Across industries, the adoption of NVIDIA computing platforms is accelerating.

“Mellanox, one year in, has exceeded our expectations and transformed NVIDIA into a data-center-scale computing company. We continue to make headway with our planned acquisition of Arm, which will accelerate innovation and growth for the Arm ecosystem. From gaming, cloud computing, AI, robotics, self-driving cars, to genomics and computational biology, NVIDIA continues to do impactful work to invent a better future,” he said.

NVIDIA paid quarterly cash dividends of $99 million in the first quarter. It will pay its next quarterly cash dividend of $0.16 per share on July 1, 2021, to all shareholders of record on June 10, 2021.

On May 21, 2021, the company’s board of directors declared a four-for-one split of NVIDIA’s common stock payable in the form of a stock dividend, with the additional shares expected to be distributed on July 19, 2021. The stock dividend is conditioned on obtaining stockholder approval at the company’s 2021 Annual Meeting of Stockholders on June 3, 2021, to increase the number of authorized shares of common stock from 2 billion to 4 billion.

Q1 Fiscal 2022 Summary

GAAP
($ in millions, except earnings per share) Q1 FY22 Q4 FY21 Q1 FY21 Q/Q Y/Y
Revenue $5,661 $5,003 $3,080 Up 13% Up 84%
Gross margin 64.1% 63.1% 65.1% Up 100 bps Down 100 bps
Operating expenses $1,673 $1,650 $1,028 Up 1% Up 63%
Operating income $1,956 $1,507 $976 Up 30% Up 100%
Net income $1,912 $1,457 $917 Up 31% Up 109%
Diluted earnings per share $3.03 $2.31 $1.47 Up 31% Up 106%
Non-GAAP
($ in millions, except earnings per share) Q1 FY22 Q4 FY21 Q1 FY21 Q/Q Y/Y
Revenue $5,661 $5,003 $3,080 Up 13% Up 84%
Gross margin 66.2% 65.5% 65.8% Up 70 bps Up 40 bps
Operating expenses $1,189 $1,187 $821 — Up 45%
Operating income $2,557 $2,089 $1,205 Up 22% Up 112%
Net income $2,313 $1,957 $1,120 Up 18% Up 107%
Diluted earnings per share $3.66 $3.10 $1.80 Up 18% Up 103%

NVIDIA’s outlook for the second quarter of fiscal 2022 is as follows:

  • Revenue is expected to be $6.30 billion, plus or minus 2 percent.
  • GAAP and non-GAAP gross margins are expected to be 64.6 percent and 66.5 percent, respectively, plus or minus 50 basis points.
  • GAAP and non-GAAP operating expenses are expected to be approximately $1.76 billion and $1.26 billion, respectively.
  • GAAP and non-GAAP other income and expense are both expected to be an expense of approximately $50 million.
  • GAAP and non-GAAP tax rates are both expected to be 10 percent, plus or minus 1 percent, excluding any discrete items. GAAP discrete items include excess tax benefits or deficiencies related to stock-based compensation, which are expected to generate variability on a quarter-by-quarter basis.

Highlights

NVIDIA achieved progress since its previous earnings announcement in these areas:

Gaming

Data Center

  • First-quarter revenue was a record $2.05 billion, up 79 percent from a year earlier and up 8 percent from the previous quarter.
  • Hosted its largest-ever GPU Technology Conference, virtually, with more than 200,000 registrations from 195 countries, and an opening keynote with over 14 million views.
  • Unveiled NVIDIA Grace™, its first Arm-based data center CPU, designed for giant-scale AI and high performance computing, which will deliver 10x the performance of today’s fastest servers and power the world’s most powerful AI-capable supercomputer at the Swiss National Supercomputing Centre.
  • Collaborated with Amazon Web Services to deploy NVIDIA GPU inferencing through GPU-accelerated, AWS Graviton2-based Amazon EC2 instances, enabling GPU-accelerated games to run natively on AWS and allowing greater performance for Arm-based workloads.
  • Unveiled the NVIDIA® BlueField-3® DPU, the first data processing unit built for AI and accelerated computing, with support from VMware, Splunk, NetApp, Cloudflare and others.
  • Announced the new NVIDIA DGX SuperPOD™, the first cloud-native, multi-tenant supercomputer, with customers in conversational AI, drug discovery, autonomous vehicles and more.
  • Announced that its AI inference platform, expanded with NVIDIA A30 and A10 GPUs for mainstream servers, set records across every category in the latest release of the MLPerf benchmark for AI performance across a range of workloads.
  • Announced the NVIDIA AI Enterprise software suite for VMware vSphere, enabling scale-out, multi-node performance and compatibility for a range of applications and data science.
  • Introduced the NVIDIA Morpheus AI application framework to enable cybersecurity providers to instantly detect cyber breaches using AI and NVIDIA BlueField DPUs.
  • Announced availability of NVIDIA Jarvis, a framework for interactive conversational AI, and NVIDIA Maxine™, a framework for real-time video-based experiences.
  • Unveiled NVIDIA TAO, a framework for accelerating the creation of enterprise AI applications.
  • Expanded its work supporting drug development and discovery with NVIDIA Clara Discovery, announcing a partnership with Schrödinger to support the pharmaceutical industry with AI software to speed drug-discovery workflows.

Professional Visualization

  • First-quarter revenue was a record $372 million, up 21 percent both from a year earlier and the previous quarter.
  • Launched NVIDIA Omniverse™ Enterprise software for real-time 3D design and collaboration, with BMW Group, Foster + Partners and WPP as early customers.
  • Unveiled NVIDIA RTX™ GPUs for next-gen laptop and desktop workstations, including the NVIDIA RTX A4000 and A5000 for desktops and the A2000, A3000, A4000 and A5000 for laptops.
  • Revealed GANverse3D, an AI model for creating 3D object models from standard 2D images.

Automotive

CFO Commentary
Commentary on the quarter by Colette Kress, NVIDIA’s executive vice president and chief financial officer, is available at https://investor.nvidia.com/.

Conference Call and Webcast Information
NVIDIA will conduct a conference call with analysts and investors to discuss its first quarter financial results and current financial prospects today at 2 p.m. Pacific time (5 p.m. Eastern time). A live webcast (listen-only mode) of the conference call will be accessible at NVIDIA’s investor relations website, https://investor.nvidia.com. The webcast will be recorded and available for replay until NVIDIA’s conference call to discuss its financial results for its second quarter of fiscal 2022.

Non-GAAP Measures
To supplement NVIDIA’s condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP other income (expense), net, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, and free cash flow. For NVIDIA’s investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense, acquisition-related and other costs, IP-related costs, gains and losses from non-affiliated investments, mark to market adjustments of our publicly traded equity securities, interest expense related to amortization of debt discount, and the associated tax impact of these items, where applicable. Free cash flow is calculated as GAAP net cash provided by operating activities less both purchases of property and equipment and intangible assets and principal payments on property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the company’s historical financial performance. The presentation of the company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company’s financial results prepared in accordance with GAAP, and the company’s non-GAAP measures may be different from non-GAAP measures used by other companies.

About NVIDIA
NVIDIA’s (NASDAQ: NVDA) invention of the GPU in 1999 sparked the growth of the PC gaming market and has redefined modern computer graphics, high performance computing and artificial intelligence. The company’s pioneering work in accelerated computing and AI is reshaping trillion-dollar industries, such as transportation, healthcare and manufacturing, and fueling the growth of many others. More information at https://nvidianews.nvidia.com/.

For further information, contact:

Certain statements in this press release including, but not limited to, statements as to: NVIDIA’s next quarterly cash dividend; the expected timing of our stock split; our stock split being conditioned on stockholder approval of our charter amendment; our data center business continuing to expand; the world’s industries taking up AI to process computer vision, conversational AI, natural language understanding, and recommender systems; NVIDIA RTX reinventing computer graphics and driving upgrades across the gaming and design markets; improving gamers’ access to GeForce GPUs by reducing the Ethereum hash rate on certain RTX graphics cards; our partners launching the largest-ever wave of NVIDIA-powered laptops; the acceleration of the adoption of NVIDIA computing platforms; NVIDIA’s financial outlook for the second quarter of fiscal 2022; NVIDIA’s expected tax rates for the second quarter of fiscal 2022; NVIDIA’s expectation to generate variability from excess tax benefits or deficiencies; expanding our footprint across the data center; our progress on the Arm acquisition, when it is expected to close and it creating new opportunities for the entire ecosystem; the benefits, performance and abilities of our products and technologies, including NVIDIA Grace, NVIDIA Clara Discovery and NVIDIA GeForce RTX 30 Series GPUs; the release and availability of certain of our products and technologies, including the NVIDIA BlueField-3 DPU, the DGX SuperPOD, a new class of NVIDIA-Certified Systems, NVIDIA AI Enterprise, the NVIDIA Morpheus AI application framework, the NVIDIA Jarvis framework, NVIDIA Maxine, NVIDIA TAO, NVIDIA Omniverse Enterprise and GANverse3D; collaborations with third parties, including Amazon and Schrödinger; our GPU series expansion; expanding our RTX 30 Series GPUs and their features; the games using NVIDIA Reflex and NVIDIA DLSS technology; GeForce NOW’s availability and the number of members that can access it; NVIDIA DRIVE powering a range of next-generation cars and self-driving trucks; expanding the NVIDIA DRIVE ecosystem; NVIDIA powering the Mercedes-Benz AI cockpit and the cars and timing for its debut; and NVIDIA’s pioneering work in accelerated computing and its impacts are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2021 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, NVIDIA DGX SuperPOD, NVIDIA DRIVE, NVIDIA DRIVE AGX, NVIDIA DRIVE Atlan, NVIDIA DRIVE Hyperion, NVIDIA DRIVE Orin, NVIDIA Grace, NVIDIA Omniverse, NVIDIA RTX, BlueField, GeForce, GeForce NOW, GeForce RTX and Maxine are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability, and specifications are subject to change without notice.

 

NVIDIA CORPORATION
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share data)
(Unaudited)
           
           
      Three Months Ended
      May 2,   April 26,
        2021       2020  
           
Revenue $ 5,661     $ 3,080  
Cost of revenue   2,032       1,076  
Gross profit   3,629       2,004  
Operating expenses      
  Research and development   1,153       735  
  Sales, general and administrative   520       293  
    Total operating expenses   1,673       1,028  
Income from operations   1,956       976  
  Interest income   6       31  
  Interest expense   (53 )     (25 )
  Other, net   135       (1 )
    Other income (expense), net   88       5  
Income before income tax   2,044       981  
Income tax expense   132       64  
Net income $ 1,912     $ 917  
           
Net income per share:      
  Basic $ 3.08     $ 1.49  
  Diluted $ 3.03     $ 1.47  
           
Weighted average shares used in per share computation:    
  Basic   621       614  
  Diluted   632       622  
           
NVIDIA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
             
             
        May 2,   January 31,
          2021       2021  
ASSETS        
             
Current assets:        
  Cash, cash equivalents and marketable securities   $ 12,667     $ 11,561  
  Accounts receivable, net     3,024       2,429  
  Inventories     1,992       1,826  
  Prepaid expenses and other current assets     444       239  
    Total current assets     18,127       16,055  
             
Property and equipment, net     2,268       2,149  
Operating lease assets     727       707  
Goodwill     4,193       4,193  
Intangible assets, net     2,613       2,737  
Deferred income tax assets     778       806  
Other assets     2,090       2,144  
    Total assets   $ 30,796     $ 28,791  
             
LIABILITIES AND SHAREHOLDERS’ EQUITY
             
Current liabilities:        
  Accounts payable   $ 1,218     $ 1,201  
  Accrued and other current liabilities     1,787       1,725  
  Short-term debt     999       999  
    Total current liabilities     4,004       3,925  
             
Long-term debt     5,964       5,964  
Long-term operating lease liabilities     640       634  
Other long-term liabilities     1,414       1,375  
    Total liabilities     12,022       11,898  
             
             
Shareholders’ equity     18,774       16,893  
    Total liabilities and shareholders’ equity   $ 30,796     $ 28,791  
             
NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
           
           
      Three Months Ended
      May 2,   April 26,
        2021       2020  
           
Cash flows from operating activities:      
Net income $ 1,912     $ 917  
Adjustments to reconcile net income to net cash      
provided by operating activities:      
  Stock-based compensation expense   429       224  
  Depreciation and amortization   281       107  
  Deferred income taxes   24       16  
  (Gains) losses on investments in non affiliates, net   (133 )     3  
  Other   (3 )     1  
Changes in operating assets and liabilities, net of acquisitions:      
  Accounts receivable   (595 )     (249 )
  Inventories   (159 )     (151 )
  Prepaid expenses and other assets   2       (8 )
  Accounts payable   70       71  
  Accrued and other current liabilities   (1 )     (32 )
  Other long-term liabilities   47       10  
Net cash provided by operating activities   1,874       909  
Cash flows from investing activities:      
  Proceeds from maturities of marketable securities   3,140       –  
  Proceeds from sales of marketable securities   358       1  
  Purchases of marketable securities   (4,470 )     (861 )
  Purchases related to property and equipment and intangible assets     (298 )     (155 )
  Investments and other, net   (2 )     (6 )
  Acquisitions, net of cash acquired   –       (34 )
Net cash used in investing activities   (1,272 )     (1,055 )
Cash flows from financing activities:      
  Proceeds related to employee stock plans   126       88  
  Payments related to tax on restricted stock units   (477 )     (222 )
  Dividends paid   (99 )     (98 )
  Principal payments on property and equipment   (19 )     –  
  Other   (2 )     (3 )
  Issuance of debt, net of issuance costs   –       4,979  
Net cash provided by (used in) financing activities   (471 )     4,744  
Change in cash and cash equivalents   131       4,598  
Cash and cash equivalents at beginning of period   847       10,896  
Cash and cash equivalents at end of period $ 978     $ 15,494  
           
  NVIDIA CORPORATION
  RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
  (In millions, except per share data)
  (Unaudited)
                   
        Three Months Ended  
        May 2,   January 31,   April 26,  
          2021       2021       2020    
                   
  GAAP gross profit $ 3,629     $ 3,157     $ 2,004    
    GAAP gross margin   64.1 %     63.1 %     65.1 %  
    Acquisition-related and other costs (A)   87       92       1    
    Stock-based compensation expense (B)   25       26       21    
    IP-related costs     5       1       –    
  Non-GAAP gross profit $ 3,746     $ 3,276     $ 2,026    
    Non-GAAP gross margin   66.2 %     65.5 %     65.8 %  
                   
  GAAP operating expenses $ 1,673     $ 1,650     $ 1,028    
    Stock-based compensation expense (B)   (404 )     (391 )     (203 )  
    Acquisition-related and other costs (A)   (80 )     (72 )     (4 )  
  Non-GAAP operating expenses $ 1,189     $ 1,187     $ 821    
                   
  GAAP income from operations $ 1,956     $ 1,507     $ 976    
    Total impact of non-GAAP adjustments to income from operations   601       582       229    
  Non-GAAP income from operations $ 2,557     $ 2,089     $ 1,205    
                   
  GAAP other income (expense), net $ 88     $ (37 )   $ 5    
    (Gains) losses from non-affiliated investments   (134 )     (9 )     3    
    Interest expense related to amortization of debt discount   1       1       1    
  Non-GAAP other income (expense), net $ (45 )   $ (45 )   $ 9    
                   
  GAAP net income   $ 1,912     $ 1,457     $ 917    
    Total pre-tax impact of non-GAAP adjustments   468       574       232    
    Income tax impact of non-GAAP adjustments (C)   (67 )     (74 )     (29 )  
  Non-GAAP net income $ 2,313     $ 1,957     $ 1,120    
                   
  Diluted net income per share            
    GAAP   $ 3.03     $ 2.31     $ 1.47    
    Non-GAAP   $ 3.66     $ 3.10     $ 1.80    
                   
  Weighted average shares used in diluted net income per share computation   632       631       622    
                   
  GAAP net cash provided by operating activities $ 1,874     $ 2,067     $ 909    
    Purchases related to property and equipment and intangible assets   (298 )     (283 )     (155 )  
    Principal payments on property and equipment   (19 )     (17 )     –    
  Free cash flow   $ 1,557     $ 1,767     $ 754    
                   
   
                   
  (A) Acquisition-related and other costs primarily include amortization of intangible assets, transaction costs, and certain compensation charges presented as follows:
        Three Months Ended  
        May 2,   January 31,   April 26,  
          2021       2021       2020    
    Cost of revenue $ 87     $ 92     $ 1    
    Research and development $ 1     $ 2     $ 2    
    Sales, general and administrative $ 79     $ 70     $ 2    
                   
  (B) Stock-based compensation consists of the following:    
        Three Months Ended  
        May 2,   January 31,   April 26,  
          2021       2021       2020    
    Cost of revenue $ 25     $ 26     $ 21    
    Research and development $ 276     $ 266     $ 134    
    Sales, general and administrative $ 128     $ 125     $ 69    
                   
  (C) Income tax impact of non-GAAP adjustments, including the recognition of excess tax benefits or deficiencies related to stock-based compensation under GAAP accounting standard (ASU 2016-09).
 
                   
NVIDIA CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK
     
 
    Q2 FY2022 Outlook
    ($ in millions)
     
GAAP gross margin   64.6 %
  Impact of stock-based compensation expense, acquisition-related costs, and other costs   1.9 %
Non-GAAP gross margin   66.5 %
     
GAAP operating expenses $ 1,760  
  Stock-based compensation expense, acquisition-related costs, and other costs   (500 )
Non-GAAP operating expenses $ 1,260  
     

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b223f560-684a-4e92-a9e8-66af48f1c799

Related Topics:

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Continue Reading

Artificial Intelligence

Lithium Miners Strategize for Long-Term Gains as Market Recovers

Published

2 days ago

on

May 3, 2024

By

lithium-miners-strategize-for-long-term-gains-as-market-recovers

USA News Group Commentary
Issued on behalf of Lithium South Development Corporation
VANCOUVER, BC, May 3, 2024 /PRNewswire/ — USA News Group – Despite what appears to be a supply glut currently in the global lithium market, already there are signs of a lithium rebound on the horizon. According to Statista, global lithium demand is projected to grow through next year, while Fastmarkets predicts lithium supply will increase 30% in 2024. Fastmarkets also expects that by 2030, US lithium demand alone will grow by nearly 500%. Looking ahead, lithium miners continue to move their chess pieces onto the board with anticipation of long-term rewards, including the work of Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF), Sociedad Química y Minera de Chile S.A. (SQM) (NYSE:SQM), Piedmont Lithium Inc. (NASDAQ:PLL), Lithium Americas Corp. (NYSE:LAC) (TSX:LAC), and Rio Tinto Group (NYSE:RIO).

Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF) recently filed a new Preliminary Economic Assessment (PEA), which provides support for the company to proceed with development plans for a 15,600 tonnes per year lithium carbonate plant. As per the PEA, the project’s financial model shows a Net Present Value (NPV) after tax of US$938 million, and an after-tax Internal Rate of Return (IRR) of 31.6%, with a 2.5-year payback.
“We are very pleased to have achieved this important milestone for the HMN Li Project,” said Adrian F.C. Hobkirk, Founder, President and CEO of Lithium South. “The robust economics and room for expansion indicate a promising future for Lithium South.”
The HMN Li project is planned to use an extraction and recovery process based on conventional solar evaporation of the well brine. Magnesium and other contaminants will be removed using industry standard proven methods including  liming. The concentrated lithium solution will then be processed into lithium carbonate technical grade.
The PEA announcement came just weeks after the company announced the expansion of its ongoing production well drill program. A 400 meter deep pumping well has been completed at the  Alba Sabrina claim block, which at 2,089 hectares is the project’s largest. Recent efforts at the well successfully cleared out sediments, leading to the flow of clear brine with strong artesian characteristics, suggesting potential for enhanced brine extraction rates. To maximize these benefits, Lithium South has contracted a significantly larger 80-kilowatt pump, and is now completing a long term pump test. Based on results, further wells are planned for Alba Sabrina and the southern claim blocks at Viamonte and Norma Edith.
“These developments on the Alba Sabrina claim block could potentially enhance our operational capacity,” said Hobkirk. “The completion of this pumping test, anticipated by the end of May, will provide critical technical insight into the capacity potential of this area of the salar.”
Earlier in the year, Lithium South together with the Korean conglomerate POSCO, entered into a cooperative development agreement on the HMN Li Project, representing a crucial step forward in advancing towards lithium production. Previously, towards the end of 2023, Lithium South also released an updated NI 43-101 technical report for its premier HMN Li asset, which demonstrated a significant 175% boost in its lithium resource, amounting to over 1.58 million tonnes of lithium carbonate equivalent (LCE).
According to Chile’s Sociedad Química y Minera de Chile S.A. (SQM) (NYSE:SQM), there will be steady lithium prices in the coming months, despite the supply glut. In particular, SQM is optimistic for the second half of the year, which the company predicts will entail higher sales volumes.
“As we enter into 2024, we anticipate another robust year of growth in lithium market, with global demand increasing by at least 20%, supported by electric vehicle sales growth globally and increasing demand for battery materials,” said Ricardo Ramos, CEO of SQM. “However, the excess in lithium and battery materials capacity seen during last year is expected to continue during this year, keeping pressure on lithium market prices. We expect our average lithium prices to remain relatively stable throughout the year and our sales volumes to increase slightly during this year, subject to market conditions and any changes in supply-demand balance.”
This optimism was shared by Keith Phillips, CEO of Piedmont Lithium Inc. (NASDAQ:PLL) in an interview with Yahoo! Finance Live.
“[When it comes to mining] low prices are the cure for low prices,” said Phillips, adding that “it’s a matter of time” that prices will rebound. How fast that rebound occurs is still to be determined, however, Piedmont isn’t slowing its march.
Just recently, Piedmont received its state mining permit from the state of North Carolina, where the company owns 3,600 acres, from which it plans to mine spodumene from at least half of the area. Piedmont will then convert the material to lithium hydroxide, which is key to the manufacturing of EV batteries.
“We look forward to continued engagement with the local community and the Gaston County Board of Commissioners,” said Phillips. “We have had extensive and ongoing dialogue with possible funding sources for Carolina Lithium.”
Domestically sourced lithium is projected to become even more desirable, especially with US government incentives underway. Lithium Americas Corp. (NYSE:LAC) (TSX:LAC) recently secured a record $2.26 billion loan from the US Department of Energy to build its Thacker Pass lithium project in Nevada.
Construction began at the site located just south of the Nevada-Oregon border in March 2023, following a lengthy and intricate legal victory over conservationists, ranchers, and Indigenous groups. Lithium Americas anticipates finalizing securing a loan later this year, pending the completion of final environmental assessments. Once the financing is in place, the company aims to commence substantial construction activities, a project slated to last three years. The initial phase of the mine is projected to yield 40,000 metric tons of battery-grade lithium carbonate annually, sufficient to supply up to 800,000 electric vehicles.
“Our team has been focused on refining the development plan and de-risking construction execution of Phase 1 for Thacker Pass,” said Jonathan Evans, President and CEO of Lithium Americas. “We have de-risked execution by advancing detailed engineering and project planning. To date, we have completed all the early-works and infrastructure required for major construction, including excavating the processing plant areas.”
Looking at multiple international lithium projects, mining giant Rio Tinto Group (NYSE:RIO) has already expressed the company remains bullish on lithium despite not currently seeking any big acquisitions. Back in March, Rio Tinto committed to spending $350 million on its Rincon lithium project in Argentina, set to commence production by the end of the year.
This comes just months after the President of Serbia expressed interest to hold further talks with Rio Tinto regarding its Jadar lithium project, after the country revoked licenses on the $2.4 billion asset in 2022. If brought to completion, the project could supply 90% of Europe’s current lithium needs, and make Rio Tinto a leading lithium producer. As well, Rio Tinto held talks with the country of Rwanda back in January for the exploration and mining of lithium in the East African nation.
“[Rio Tinto is] “excited to be partnering with the government of Rwanda, applying our global experience to accelerate the search for primary lithium deposits in Rwanda’s Western Province,” said Lawrence Dechambenoit, global head of external affairs at Rio Tinto. The move could further unlock the potential of another country’s mining sector, if successful.
Source: https://usanewsgroup.com/2023/10/18/the-lithium-race-to-power/ 
CONTACT:USA NEWS [email protected] (604) 265-2873
Mr. William Feyerabend, a Consulting Geologist and Qualified Person under National Instrument 43-101 participated in the production of this advertisement, and approves of the technical and scientific disclosure contained herein pertaining to Lithium South.
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Lithium South Development Corporation advertising and digital media from the company directly. There may be 3rd parties who may have shares of Lithium South Development Corporation, and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Lithium South Development Corporation which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Lithium South Development Corporation at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. The contents of this advertisement were reviewed by Mr. William Feyerabend, a Consulting Geologist and Qualified Person as defined under National Instrument 43-101. Mr. Feyerabend approves of the scientific and technical disclosure pertaining to Lithium South contained within this advertisement. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
 
 

View original content:https://www.prnewswire.co.uk/news-releases/lithium-miners-strategize-for-long-term-gains-as-market-recovers-302135776.html

Continue Reading

Artificial Intelligence

ROLLER and Amusement Connect Announce Integration to Streamline Cashless Card Operations

Published

2 days ago

on

May 3, 2024

By

roller-and-amusement-connect-announce-integration-to-streamline-cashless-card-operations

New partnership enhances guest experiences and operational efficiency across attraction venues
AUSTIN, Texas, May 3, 2024 /PRNewswire/ — In an effort to improve the guest experience and streamline operations for attractions venues, ROLLER, a global leader in leisure and attractions technology, has joined forces with Amusement Connect, a recognized leader in cashless card operations. This strategic partnership delivers an integration that aims to streamline the arcade experience for operators and guests alike, providing a more efficient way for entertainment venues to operate.

Through this integration, ROLLER and Amusement Connect enable the sale, top-up, and balance checks of cashless cards directly from ROLLER’s point-of-sale devices, simplifying the management of pay-to-play attractions. This move is expected to enhance operational efficiency and improve guest satisfaction by making sales smoother and more convenient. The integration also simplifies reporting by automatically recording every purchase of a cashless card, saving venue operators time and ensuring accurate tracking of purchases. 
Both companies leverage cloud-based technology to ensure that venues can operate without the need for expensive servers, with the promise of continuous updates to keep the systems equipped with the latest features and improvements. This integration also introduces the option for guests to purchase game cards online through ROLLER’s online checkout, a feature designed to make the check-in process more efficient and increase average transaction values.
“Amusement Connect and ROLLER have a shared commitment to helping attractions businesses deliver exceptional guest experiences. So, we’re thrilled to partner with Amusement Connect on this integration – a trailblazing company known for great customer support and providing innovative tech. This isn’t just about upgrading our technology—it’s delivering on our promise to make every guest experience smoother and every operator’s day a bit easier,” explained Luke Finn, CEO and Founder of ROLLER.
“As we continue to innovate and collaborate with industry leaders like ROLLER, we’re thrilled to see the tangible benefits our integration brings to our customers. Together, we’re not just transforming transactions; we’re elevating experiences and driving profitability with every interaction,” commented Frank Licausi, Co-Owner of Amusement Connect.
This partnership between ROLLER and Amusement Connect represents a significant step towards more streamlined operations in the amusement industry. It offers a blend of efficiency and convenience aimed at improving the way entertainment venues operate and enhancing the overall guest experience. For more information on this integration and how it can benefit your venue, contact ROLLER or Amusement Connect directly.
About ROLLER
ROLLER is the cloud-based venue management platform for the modern attraction, purpose-built to remove friction from the guest experience at every touchpoint. Their all-in-one platform simplifies its customers’ business processes, improving efficiency and maximizing revenue. ROLLER’s comprehensive solution includes: Online Checkout & Ticketing, Point-of-Sale, Integrated Payments, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more. To learn more, visit roller.software.
About Amusement Connect
Founded by Frank Licausi and John Tarpley in 2017, our comprehensive game card system, accompanied by a variety of products, provides a complete overview on games and attractions in settings like bars, arcades, FEC’s, and multi-location entertainment centers. As operators and industry experts, we bring innovation, value, and the best possible experiences to entertainment venues with our award-winning game card system. Bringing you more at amusementconnect.com.

View original content:https://www.prnewswire.co.uk/news-releases/roller-and-amusement-connect-announce-integration-to-streamline-cashless-card-operations-302135415.html

Continue Reading

Artificial Intelligence

Computer Vision in Healthcare Market Worth $11.5 billion | MarketsandMarkets™

Published

2 days ago

on

May 3, 2024

By

computer-vision-in-healthcare-market-worth-$11.5-billion-|-marketsandmarkets™

CHICAGO, May 3, 2024 /PRNewswire/ — Computer Vision in Healthcare Market in terms of revenue was estimated to be worth $3.9 billion in 2024 and is poised to reach $11.5 billion by 2029, growing at a CAGR of 24.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The market’s expansion is fueled by the exponential growth of medical imaging data which necessitates efficient analysis methods, where computer vision techniques excel in automating and enhancing diagnostic processes. Further, the demand for improved patient care and outcomes fuels the adoption of AI-driven solutions, empowering healthcare providers with precise tools for diagnosis, treatment planning, and monitoring. Nevertheless, ensuring the accuracy and reliability of computer vision algorithms remains a significant challenge, especially in complex medical imaging tasks where errors can have critical consequences. Additionally, the regulatory landscape surrounding AI-based medical devices is evolving, requiring stringent validation and approval processes, which can impede the timely deployment of innovative solutions. Thus, restraining the market.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=231790940
Browse in-depth TOC on “Computer Vision in Healthcare Market”
505 – Tables55 – Figures379 – Pages
Computer Vision in Healthcare Market Scope:
Report Coverage
Details
Market Revenue in 2024
$3.9 billion
Estimated Value by 2029
$11.5 billion
Growth Rate
Poised to grow at a CAGR of 24.0%
Market Size Available for
2022–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Product & Service, Type, Applications, End User
Geographies Covered
North America, Europe, Asia Pacific, Latin America and Middle East and Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Computer vision solutions for healthcare that are hosted in the cloud
Key Market Drivers
The healthcare sector is experiencing a growing need for computer vision systems
“The largest share in the computer vision in healthcare market, based on type, was attributed to the PC-based computer vision systems segment in 2023.”
The PC-based computer vision systems segment holds the largest market share in the computer vision in healthcare market in 2023. The growth of this segment is propelled by factors such as PCs offering robust computational power, enabling real-time processing of complex algorithms required for tasks like medical image analysis. Also, PCs provide flexibility and scalability, allowing users to customize hardware configurations and software solutions according to specific requirements. This versatility makes them adaptable to various healthcare settings, from small clinics to large hospitals.
“In 2023, the patient activity monitoring/fall prevention segment demonstrated the most significant growth in the computer vision in healthcare market based on hospital management by type.”
The patient activity monitoring/fall prevention segment is expected to experience the highest growth in the computer vision in healthcare market. The key drivers for this growth include the aging population worldwide that has led to an increased focus on elderly care and fall prevention initiatives. Computer vision systems offer non-intrusive and continuous monitoring of patients’ movements, enabling early detection of potential fall risks and timely intervention to prevent accidents. Also, the growing adoption of wearable devices and smart sensors integrated with computer vision technology allows for seamless monitoring of patients’ activities both inside healthcare facilities and at home. This remote monitoring capability enhances patient safety and independence while reducing the burden on caregivers and healthcare resources.
“North America accounted for the largest share of the healthcare simulation market in 2023.”
In 2023, North America held the largest share in the computer vision in healthcare market, with Europe and Asia Pacific following. The significant presence of North America in the global market can be attributed to factors such as region’s strong focus on improving patient outcomes and reducing healthcare costs which incentivizes the integration of computer vision solutions to streamline processes, enhance diagnostics, and optimize treatment pathways.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=231790940
Computer Vision in Healthcare Market Dynamics:
Drivers:
The healthcare sector is experiencing a growing need for computer vision systemsRestraints:
The resistance of medical practitioners towards adopting AI-based technologiesOpportunities:
Computer vision solutions for healthcare that are hosted in the cloudChallenge:
Lack of curated dataKey Market Players of Computer Vision in Healthcare Industry:
The key players functioning in the computer vision in healthcare market include NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US), Basler AG (Germany), AiCure (US), iCAD, Inc. (US), Thermo Fisher Scientific Inc. (US), SenseTime (China),  KEYENCE CORPORATION (Japan), Assert AI (India), Artisight (US), LookDeep Inc. (US), care.ai (US), CareView Communications (US), VirtuSense (US), Teton (Denmark), viso.ai (Switzerland), NANO-X IMAGING LTD. (Israel), Comofi Medtech Pvt. Ltd. (India), Avidtechvision (India), Roboflow, Inc. (US), Optotune (US) and CureMetrix, Inc. (US).
The break-down of primary participants is as mentioned below:
By Company Type – Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%By Designation – C-level: 42%, Director-level: 31%, and Others: 27%By Region – North America: 32%, Europe: 32%, Asia Pacific: 26%, Middle East & Africa: 5%, Latin America: 5%Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=231790940
Recent Developments of Computer Vision in Healthcare Industry:
In April 2024, iCAD partnered with RAD-AID to enhance breast cancer detection utilizing the AI technology in underserved regions and low- and middle-income countries (LMICs).In March 2024, Microsoft and NVIDIA have broadened their longstanding collaboration with robust new integrations that harness cutting-edge NVIDIA generative AI and Omniverse technologies across Microsoft Azure, Azure AI services, Microsoft Fabric, and Microsoft 365.In February 2022, Advanced Micro Devices acquired Xilinx. This acquisition established the forefront leader in high-performance and adaptive computing, with a significantly expanded scale and the most formidable portfolio of leadership computing, graphics, and adaptive SoC products in the industry.Computer Vision in Healthcare Market – Key Benefits of Buying the Report:
This report will enrich established firms and new entrants/smaller firms to gauge the market’s pulse, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights on:
Analysis of key drivers: (Increasing demand for computer vision systems in the healthcare industry, government initiatives to increase the adoption of AI-based technologies), restraints (Reluctance of medical practitioners to adopt AI-based technologies), opportunities (Cloud-based healthcare computer vision solutions), and challenges (Rising security concerns related to cloud-based image processing and analytics) influencing the growth of the computer vision in healthcare market.Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the computer vision in healthcare market.Market Development: Comprehensive information on the lucrative emerging markets, products & services, applications, end-users, and regions.Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the computer vision in healthcare market.Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the computer vision in healthcare market like NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US).Related Reports:
Medical Robots Market – Global Forecasts to 2029
Minimally Invasive Surgery Market – Global Forecasts to 2029
Spinal Implants Market – Global Forecasts to 2028
Medical Waste Management Market – Global Forecasts to 2028
Operating Room Integration Market – Global Forecasts to 2028
Get access to the latest updates on Computer Vision in Healthcare Companies and Computer Vision in Healthcare Market Size
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

View original content:https://www.prnewswire.co.uk/news-releases/computer-vision-in-healthcare-market-worth-11-5-billion–marketsandmarkets-302135478.html

Continue Reading

Trending