AI NEWS
Nvidia is about to be a hundred-billion-dollar-a-quarter company
Nvidia has announced record-breaking quarterly revenue of $96.2 billion, driven primarily by its data center business which generated $89 billion. Profits more than doubled to $59.7 billion as demand for AI chips remains surging, though consumer PC sales growth is slower due to elevated prices and component shortages.
THE NEWS
What happened
Nvidia has announced record-breaking quarterly revenue of $96.2 billion, driven primarily by its data center business which generated $89 billion. Profits more than doubled to $59.7 billion as demand for AI chips remains surging, though consumer PC sales growth is slower due to elevated prices and component shortages.
CONTEXT
Why it matters
Nvidia's latest earnings are historic. The company generated $96.2 billion in revenue this quarter, with its data center division pulling in a record $89 billion. While consumer sales face headwinds from high prices, the surge in AI infrastructure spending keeps profits soaring past $59 billion.
AT A GLANCE
Key facts
- Nvidia reported record quarterly revenue of $96.2 billion.
- Data center revenue reached a record $89 billion, more than doubling year-over-year.
- Company profits exceeded $59.7 billion, also more than doubling from the previous period.
- Consumer gaming and edge computing revenue was $7.2 billion, up 27% year-over-year.
- Nvidia warned of upcoming price hikes for AI chips due to sustained high demand.
- Elevated memory and system prices are tempering consumer PC GPU sales growth.
SOURCE
Original source
This article is based on information published by The Verge AI.
KEEP READING
