Nvidia Continues The AI-Driven Growth
Quote from Ndubuisi Ekekwe on November 21, 2023, 6:54 PMThe game is still Nvidia's.
Nvidia's revenue has skyrocketed 206% compared with last year, the tech giant reported Tuesday. The chipmaker's data center — the crux of its burgeoning artificial intelligence business — was the major driver behind the numbers, but the firm also saw an 81% jump in revenue from its gaming unit. Still, shareholders were largely unimpressed, Bloomberg notes: They were hoping for even more impressive sales gains from Nvidia as its processors fuel an AI frenzy that has overtaken Silicon Valley. Nvidia also warned that export restrictions will weigh on business in China, though it expects those effects to be "more than offset by strong growth in other regions," Chief Financial Officer Colette Kress said.
The game is still Nvidia's.
Nvidia's revenue has skyrocketed 206% compared with last year, the tech giant reported Tuesday. The chipmaker's data center — the crux of its burgeoning artificial intelligence business — was the major driver behind the numbers, but the firm also saw an 81% jump in revenue from its gaming unit. Still, shareholders were largely unimpressed, Bloomberg notes: They were hoping for even more impressive sales gains from Nvidia as its processors fuel an AI frenzy that has overtaken Silicon Valley. Nvidia also warned that export restrictions will weigh on business in China, though it expects those effects to be "more than offset by strong growth in other regions," Chief Financial Officer Colette Kress said.