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Quanta Cloud Tech. Expects To Double Sales Of Its AI Servers

Key Nvidia Corp. partner Quanta Cloud Technology expects to double sales of its artificial intelligence servers in 2024 and demand to persist over the longer term as businesses weave AI into their operations and services.

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The AI boom “actually is going to maintain and you’ll see its growth keeping stronger and stronger for the upcoming years,” President Mike Yang of supplier QCT, a wholly-owned subsidiary of Taiwan’s Quanta Computer Inc., told Bloomberg

Quanta Computer, which works with Nvidia to build AI servers, has benefited greatly from Wall Street’s bet on the technology as the next big thing.

  • Quanta’s share price has more than doubled in 2023.

Various component providers are working together to increase production capacity and help alleviate an ongoing shortage of Nvidia’s cutting-edge AI chips, Yang said, without committing to fulfilling all demand from customers by next year.

Nvidia executives told analysts this month they were confident of expanding supply to meet heightened demand.

“We have a very limited supply, but next year I think Nvidia will solve everything,” Yang said..

Analyst and researcher estimates have proven overly conservative this year, as Nvidia has in successive quarters shocked the market with blowout sales forecasts.

Image: Quanta Tech