Tue. May 28th, 2024



TLDR:

  • Nvidia reported enormous revenue in the fourth quarter, beating analyst expectations by a large margin.
  • Revenue from data centers was up more than 400% from the previous year, reaching $18.4bn.

Nvidia’s revenue surge is attributed to the increasing demand for AI products worldwide. The CEO, Jensen Huang, mentioned that accelerated computing and generative AI have hit a tipping point, leading to a surge in demand. Major tech companies like Microsoft, OpenAI, Amazon, Meta, and Google have collaborated with Nvidia to purchase its chips in bulk for developing new AI products and features. Nvidia is set to release three new AI chips, including the B100, at the highest end of its product line in 2024. Additionally, a partnership with Nokia was announced to develop AI solutions for improving telecommunications infrastructure. With its revenue tripling in the last quarter and its stock value surpassing Google and Amazon, Nvidia has become one of the top companies in the world by value.

Key Points:

  1. Nvidia’s revenue in the fourth quarter exceeded expectations, reaching $22.1bn.
  2. Data center revenue increased by more than 400% from the previous year, totaling $18.4bn.


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