Nvidia revenue triples as AI chip sales continue to rise, Details

Nvidia: In the third quarter, Nvidia's revenue tripled to a record high as a result of businesses' growing demand for the technology needed for artificial intelligence (AI) work, the company announced in its financial results announcement on Tuesday.

Nvidia's revenue triples

With revenues of $18.1 billion, a considerable rise from the prior year, and profits of $9.2 billion, the market leader in semiconductors, Nvidia, has reported impressive third-quarter earnings. Over the course of the year, profits have increased by almost 14 times, exceeding previous projections by almost $2 billion.

The company's strong success can be partially credited to higher production of the highly sought-after H100 chip, which is predicted to propel Q4 sales to approximately $20 billion. For Nvidia's near-term future, this estimate points to steady growth and optimism.

What did the company say?

Founder and CEO Jensen Huang said in the statement, "Our strong growth reflects the broad industry platform transition from general-purpose to accelerated computing and generative AI."

"Large language model startups, consumer internet companies, and global cloud service providers were the first movers, and the next waves are starting to build. Nations and regional CSPs are investing in AI clouds to serve local demand, enterprise software companies are adding AI copilots and assistants to their platforms, and enterprises are creating custom AI to automate the world’s largest industries," he added.

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER