Friday, July 19, 2024

NVIDIA Posts Record Quarter on Gaming and Data Centers

NVIDIA has posted its quarterly report, beating estimates on record revenue, thanks to its Gaming and Data Center business.

Unlike many companies that have been hurt by the pandemic, NVIDIA has experienced significant growth. Multiple factors have helped the company, including people turning to gaming more during lockdowns and quarantine.

NVIDIA’s GPU chips are also popular with cryptocurrency miners, leading the company to cripple them when mining is detecting, in an effort to preserve its GPU supply for gamers. The company has even announced a processor designed specifically for miners to help address the issues.

All of the above has helped propel the company to a record quarter, bringing in $5.66 billion, an increase of 84 percent from a year earlier. Gaming revenue accounted for $2.76 billion, an increase of 106%. Data Center revenue accounted for $2.05 billion, an increase of 79%.

“We had a fantastic quarter, with strong demand for our products driving record revenue,” said Jensen Huang, founder and CEO of NVIDIA.

“Our Data Center business continues to expand, as the world’s industries take up NVIDIA AI to process computer vision, conversational AI, natural language understanding and recommender systems. NVIDIA RTX has reinvented computer graphics and is driving upgrades across the gaming and design markets. Our partners are launching the largest-ever wave of NVIDIA-powered laptops. Across industries, the adoption of NVIDIA computing platforms is accelerating.

“Mellanox, one year in, has exceeded our expectations and transformed NVIDIA into a data-center-scale computing company. We continue to make headway with our planned acquisition of Arm, which will accelerate innovation and growth for the Arm ecosystem. From gaming, cloud computing, AI, robotics, self-driving cars, to genomics and computational biology, NVIDIA continues to do impactful work to invent a better future.”

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