Nvidia's revenue triples as AI chip boom continues
Publishing timestamp: 2023-11-21 18:06:16
Summary
Nvidia's fiscal fourth-quarter results exceeded analysts' expectations, with revenue and income surpassing projections. The demand for Nvidia's graphics processing units (GPUs) has been higher than supply due to the rise of generative artificial intelligence. However, the company expects a negative impact in the next quarter due to export restrictions affecting sales to organizations in China and other countries. Nvidia is working to obtain U.S. government licenses for sales in these regions and is developing new data center products to comply with government policies. The company's revenue grew 206% year over year, with data center revenue totaling $14.51 billion. Nvidia's gaming segment also saw significant growth. The company announced the GH200 GPU, and its guidance for the fiscal fourth quarter is $20 billion in revenue, implying nearly 231% revenue growth. Despite competition and obstacles, analysts remain optimistic about Nvidia's future.
Sentiment: POSITIVE
Tickers: MSFT, NVDA, ORCL, AMZN, AMD,
Keywords: oracle corp, amazon.com inc, nvidia corp, generative ai, advanced micro devices inc, business, earnings, microsoft corp, technology, breaking news: technology, business news, artificial intelligence, breaking news: earnings, enterprise,
Source: https://www.cnbc.com/2023/11/21/nvidia-nvda-q3-earnings-report-2024.html