Nvidia rides the AI wave, nearly doubling revenue and reshaping the tech landscape with its cutting-edge chips.

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Written By Karl Melles

Article published (updated) on: 20th November 2024

Credit: CNBC

In Summary:

Nvidia has reported a stellar third quarter, with revenue surging 94% to $35.08 billion, driven by booming demand for its AI-focused chips. The company's next-generation Blackwell AI chip has already been shipped to major customers like Microsoft, Oracle, and OpenAI, fueling excitement for its potential in revolutionizing data center capabilities. Nvidia’s data center division, which accounts for most of its revenue, saw a 112% year-over-year growth, underscoring the firm’s dominance in the AI chip market.

Beyond data centers, Nvidia experienced growth in gaming, automotive, and visualization segments, showcasing its versatility. CEO Jensen Huang highlighted that Blackwell chips are in full production, with demand expected to outpace supply well into fiscal 2026. As Nvidia continues to capitalize on the AI boom, questions remain about its ability to sustain momentum amidst supply constraints and evolving global regulations.

This development cements Nvidia's role as a leader in AI technology and reinforces the critical role of advanced chips in powering innovation across industries.

For the full article, visit the original post on: CNBC: Nvidia nearly doubles revenue on strong AI demand

 

Karl Melles
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