Nvidia is breaking its financial records, according to its latest quarterly report, nearly doubling its revenue from Q3 of the previous fiscal year (2024). The tech company reported an exceptional performance for the three months ending October 2024, achieving revenue of $35.1 billion—a 17% increase from the previous quarter and an astounding 94% rise compared to the same period last year.
The report reveals that a significant portion of this growth was driven by Nvidia's data center business, which saw record revenue of $30.8 billion. This was a 17% increase from the previous quarter and a remarkable 112% rise year-over-year. Key to this growth was strong demand for the latest AI chips, mainly from the Hopper and Blackwell families, as customers increasingly deploy Nvidia-powered systems for everything from training large language models to powering AI-driven cloud services.
Nvidia also highlighted the expansion of its global cloud partnerships, with major providers like Amazon Web Services (AWS), Microsoft Azure, and CoreWeave offering instances powered by the Hopper H200. The company believes this collaboration has significantly contributed to its dominance in the AI infrastructure space.
Additionally, the report showed growth in Nvidia’s gaming and professional visualization segments, although the gains were more modest. For Q3, Nvidia's gaming revenue reached $3.3 billion, a 14% increase from the previous quarter. This growth is attributed to the ongoing shift in gaming toward AI-enhanced graphics and immersive experiences. New AI-powered PCs and games, such as Indiana Jones and the Great Circle, are pushing the boundaries of interactive entertainment.
The company’s professional visualization revenue saw a 17% year-over-year increase, as industries adopt Nvidias’s Omniverse platform to create digital twins and automate workflows in manufacturing, media, and design.
Looking ahead, the company expects the momentum to continue into the fourth quarter, projecting revenue of $37.5 billion, reflecting the ongoing global demand for AI infrastructure and solutions.
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Nvidia (In English)