- The ongoing AI surge maintains Nvidia at an unprecedented peak
NVIDIA, the tech behemoth, keeps raking in massive profits from the AI explosion. In their latest quarter, revenue skyrocketed from $13.5 billion in 2021 to over $30 billion - a staggering 122% increase. This comes after a quarter where earnings sky-dove by 262%.
Initially, NVIDIA's technologies were geared towards graphics cards, but it was uncovered that they excel in the computational tasks involved in training AI programs. Consequently, NVIDIA's chips became the backbone technology for AI's future, and the company also enjoys the income from the sales of related software and services.
In the last quarter, the business related to data center technology flourished notably. Revenue reached $26.3 billion, a 154% increase compared to the previous year, according to NVIDIA.
NVIDIA's quarterly earnings doubled, moving from around $6.2 billion to almost $16.6 billion year-over-year.
For the upcoming quarter, the company forecasts another revenue leap to $32.5 billion, while analysts generally predict around $32 billion.
However, investors are wary about the necessity for further development on NVIDIA's upcoming chip system, Blackwell. Currently, the demand for the latest Hopper chips remains robust. The stock dipped nearly 4% in after-hours trading.
The impressive revenue growth in the data center technology sector continues for NVIDIA, as their quarterly figures show a substantial 154% increase compared to the previous year. In their latest financial report, NVIDIA revealed a remarkable 122% increase in quarterly revenue, reaching over $30 billion.
