Nvidia presented financial results for the just completed quarter. To say that they are excellent is to say nothing. The American manufacturer of chips and graphics cards broke record after record, and at the same time exceeded all analysts’ expectations.
The company generated revenue at the level $13.51 billionwhich means an increase of 101 percent, compared to the same period last year. This was mainly due to the department responsible for data centers, which it generated in the last quarter USD 10.32 billion in sales (an increase of 141% y/y).
Nvidia Nvidia
This is not the end of records. The company’s operating profit increased by – a trifle – 1263% y/y (from USD 2.1 to USD 6.8 billion), a net profit – by 843 percent. (from 2 to 6.2 billion dollars). ABOUT 854 percent soared too diluted earnings per share – from 0.82 to 2.48 dollars.
A new era of information technology has begun. Businesses around the world are moving from general purpose computing to accelerated computing and generative AI
– summarized the presented results Jensen Huang, founder and CEO of Nvidia.
Nvidia breaks record after record. The AI boom took the company to the top of the stock exchange
This is another quarter of Nvidia with record financial results. And it’s not a coincidence. The company, which until now was famous primarily for the production of GeForce series graphics cards, found itself at the center of the AI boom that has been going on for months.
The rise in popularity of tools such as ChatGPT has made that more and more companies are looking for a way to “tame” artificial intelligence and use it in their business. This is where Nvidia, which has been investing in this technology for years, enters the scene, and is now the world’s largest producer of AI chips.
NVIDIA GPUs combined through our networking technologies and Mellanox switches, and powered by our CUDA AI software stack, form a generative AI computing infrastructure
Jensen Huang explained
Enthusiasm related to AI can also be seen on the company’s stock chart. The company’s shares rose in aftermarket trading on Wednesday by over 6.5 percent. and are currently valued at $502. Since the beginning of the year, the company’s market capitalization has increased by 22 percent, breaking the magic barrier of 1 trillion dollars.
Nvidia – NASDAQ Investing.com
Currently, with a market capitalization of $1.17 trillionNvidia is already the fifth largest US publicly traded company – behind Apple, Microsoft, Alphabet (Google) and Amazon.
On Wednesday, Nvidia also boasted of forecasts for the third quarter. The company expects another record-breaking revenue – this time at $16 billion. Enthusiasm is so great that at the same time the company announced a plan to buy back its own shares for the amount of USD 25 billion.
Source: Gazeta
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