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Equity

Startups that are Ramp-ing up, and startups that are full of sh**

Aug 25, 2023
TechCrunch contributors Mary Ann and Alex, along with startup reporter Kirsten Korosec, discuss Nvidia's impressive earnings report and the growth of the company. They also cover funding news for Ramp, Lex, and Northvolt, as well as the public listing of Better.com. The hosts highlight the presence of startups focused on excrement in this year's TechCrunch Battlefield 200 companies. The podcast covers various topics including fintech, AI-powered writing tools, battery-building, and challenges faced by startups in a tough market.
37:03

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Quick takeaways

  • Nvidia's booming revenue is driven by high demand for AI chips and the growth of the data center business, indicating an AI boom in the hardware industry.
  • Ramp's $300 million raise at a lower valuation showcases a necessary market correction in the overvalued fintech space, while still commendable given the current market conditions.

Deep dives

Nvidia reports impressive earnings with soaring revenue

Nvidia reported revenue of $13.51 billion in the second quarter, double the amount from the same period last year. The company's success is largely attributed to the booming demand for AI chips and the growth of the data center business. Nvidia projects even higher revenue of $16 billion for the current quarter, indicating high demand for their products. While the company may face limitations in scaling their AI-focused chips, the hardware industry is experiencing a real AI boom.

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