NVIDIA reported impressive financial results for Q3 2023, with revenue reaching $18.12 billion and GAAP earnings per diluted share of $3.71, a 206% and 12x increase respectively from the same period last year, driven by its diverse portfolio of products and services and the industry-wide shift towards accelerated computing and generative AI.
- NVIDIA reported impressive financial results for the third quarter of 2023, with revenue reaching a staggering $18.12 billion
- NVIDIA's diverse portfolio of products and services have contributed to its rapid growth
- NVIDIA achieved significant milestones across its various business segments
nVidia, the technology company known for its GPUs and AI capabilities, has reported impressive financial results for the third quarter of 2023. The company’s revenue reached a staggering $18.12 billion, marking a remarkable 206% increase compared to the same period last year. Additionally, NVIDIA’s GAAP earnings per diluted share for the quarter were $3.71, a significant rise of more than 12 times from a year ago.
Jensen Huang, the visionary founder and CEO of NVIDIA, attributes this outstanding growth to the industry-wide shift towards accelerated computing and generative AI. He highlights that large language model startups, consumer internet companies, and global cloud service providers were among the early adopters of this transformative technology. Now, nations, regional cloud service providers, enterprise software companies, and various industries are following suit, investing in AI clouds, integrating AI into their platforms, and leveraging custom AI solutions to automate their operations.
NVIDIA’s success can be attributed to its diverse portfolio of products and services. Its GPUs, CPUs, networking solutions, AI Foundry services, and NVIDIA AI Enterprise software have all contributed to its rapid growth. Huang emphasizes that the era of generative AI is now in full swing.
Looking ahead, NVIDIA projects a strong fourth quarter for fiscal 2024. The company expects revenue to reach approximately $20 billion, with GAAP and non-GAAP gross margins estimated to be around 74.5% and 75.5%, respectively. Operating expenses are projected to be approximately $3.17 billion and $2.20 billion for GAAP and non-GAAP, respectively. The company also anticipates other income and expense to amount to an income of approximately $200 million.
In terms of highlights from the quarter, NVIDIA achieved significant milestones across its various business segments. In the Data Center realm, the company reported record-breaking revenue of $14.51 billion, a substantial increase of 41% from the previous quarter. NVIDIA introduced several products and services, including the NVIDIA HGX H200 with the new NVIDIA H200 Tensor Core GPU, which boasts the first-ever GPU with HBM3E memory. The company also launched an AI foundry service, collaborated with leading cloud service providers, and made remarkable advancements in the MLPerf benchmarks.
NVIDIA’s Gaming segment also experienced notable growth, with revenue totaling $2.86 billion, up 15% from the previous quarter. The company introduced DLSS 3.5 Ray Reconstruction, a technology that enhances ray-traced images for immersive gaming experiences. Additionally, NVIDIA expanded its library of supported games and applications, surpassing 1,700 titles on Geforce NOW.
The Professional Visualization and Automotive segments also contributed to NVIDIA’s success. Revenue in these areas reached $416 million and $261 million, respectively. The company announced collaborations with major players such as Mercedes-Benz and Foxconn, showcasing its commitment to revolutionizing industries beyond gaming.
Colette Kress, NVIDIA’s CFO, provided further insights into the company’s financial performance. Her commentary on the quarter can be found on NVIDIA’s investor relations website.
Overall, NVIDIA’s exceptional growth and innovative product products solidify its position as a leader in the tech industry. As the world continues to embrace accelerated computing and generative AI, NVIDIA is well-positioned to capitalize on this transformative trend and drive further success in the future.
![NVIDIA’s Q3-FY24 Reveals AI Chips Surpass Gaming GPUs, Driving Revenue Growth](https://tpucdn.com/img/iOIlKGUotZsiMSaM.jpg)
About Our Team
Our team comprises industry insiders with extensive experience in computers, semiconductors, games, and consumer electronics. With decades of collective experience, we’re committed to delivering timely, accurate, and engaging news content to our readers.
Background Information
About Foxconn: Foxconn, officially known as Hon Hai Precision Industry Co., Ltd., is a global technology manufacturing company. With a rich history dating back to 1974, Foxconn has played a pivotal role in revolutionizing the electronics industry. Foxconn is mainly known for its role as a important contract electronics manufacturer. The company specializes in assembling a wide variety of electronic products, including smartphones, tablets, computers, televisions, gaming consoles, and other consumer electronics on behalf of some of the world's leading technology brands
About nVidia: NVIDIA has firmly established itself as a leader in the realm of client computing, continuously pushing the boundaries of innovation in graphics and AI technologies. With a deep commitment to enhancing user experiences, NVIDIA's client computing business focuses on delivering solutions that power everything from gaming and creative workloads to enterprise applications. for its GeForce graphics cards, the company has redefined high-performance gaming, setting industry standards for realistic visuals, fluid frame rates, and immersive experiences. Complementing its gaming expertise, NVIDIA's Quadro and NVIDIA RTX graphics cards cater to professionals in design, content creation, and scientific fields, enabling real-time ray tracing and AI-driven workflows that elevate productivity and creativity to unprecedented heights. By seamlessly integrating graphics, AI, and software, NVIDIA continues to shape the landscape of client computing, fostering innovation and immersive interactions in a rapidly evolving digital world.
Technology Explained
DLSS: DLSS (Deep Learning Super Sampling) is an advanced AI-powered technology developed by NVIDIA that enhances real-time graphics rendering in video games and applications. DLSS utilizes deep learning algorithms to upscale lower-resolution images in real-time, resulting in higher-quality visuals while maintaining optimal performance. By harnessing the power of AI and deep neural networks, DLSS effectively boosts frame rates and image quality, enabling gamers to experience smoother gameplay and more immersive graphics without sacrificing computational efficiency. This technology has gained widespread recognition for its ability to deliver impressive visual fidelity and improved performance simultaneously, revolutionizing the way modern computer graphics are processed and displayed.
DLSS Website: https://www.nvidia.com/en-gb/geforce/technologies/dlss
Foundry: A foundry is a dedicated manufacturing facility focused on producing semiconductor components like integrated circuits (ICs) for external clients. These foundries are pivotal in the semiconductor industry, providing diverse manufacturing processes and technologies to create chips based on designs from fabless semiconductor firms or other customers. This setup empowers companies to concentrate on innovative design without needing substantial investments in manufacturing infrastructure. Some well-known foundries include TSMC (Taiwan Semiconductor Manufacturing Company), Samsung Foundry, GlobalFoundries, and UMC (United Microelectronics Corporation).
Geforce: Geforce is a line of graphics processing units (GPUs) developed by Nvidia. It is the most popular GPU used in the computer industry today. Geforce GPUs are used in gaming PCs, workstations, and high-end laptops. They are also used in virtual reality systems, artificial intelligence, and deep learning applications. Geforce GPUs are designed to deliver high performance and power efficiency, making them ideal for gaming and other demanding applications. They are also capable of rendering high-resolution graphics and providing smooth, realistic visuals. Geforce GPUs are used in a variety of applications, from gaming to professional workstations, and are the preferred choice for many computer users.
GPU: GPU stands for Graphics Processing Unit and is a specialized type of processor designed to handle graphics-intensive tasks. It is used in the computer industry to render images, videos, and 3D graphics. GPUs are used in gaming consoles, PCs, and mobile devices to provide a smooth and immersive gaming experience. They are also used in the medical field to create 3D models of organs and tissues, and in the automotive industry to create virtual prototypes of cars. GPUs are also used in the field of artificial intelligence to process large amounts of data and create complex models. GPUs are becoming increasingly important in the computer industry as they are able to process large amounts of data quickly and efficiently.
HBM3E: HBM3E is the latest generation of high-bandwidth memory (HBM), a type of DRAM that is designed for artificial intelligence (AI) applications. HBM3E offers faster data transfer rates, higher density, and lower power consumption than previous HBM versions. HBM3E is developed by SK Hynix, a South Korean chipmaker, and is expected to enter mass production in 2024. HBM3E can achieve a speed of 1.15 TB/s and a capacity of 64 GB per stack. HBM3E is suitable for AI systems that require large amounts of data processing, such as deep learning, machine learning, and computer vision.
Trending Posts
Bluetooth SIG introduces New True Distance Awareness Feature for Enhanced Connectivity
ASUS introduces ExpertBook B1: A New Contender in Business Laptops
NVIDIA GeForce NOW Expands Library with 19 New Games This September
Thermaltake introduces Coolers Compatible with Latest Intel and AMD Processors
Alphacool introduces ES 2U Reservoir VPP Featuring Integrated Flow and Temperature Sensors
Evergreen Posts
NZXT about to launch the H6 Flow RGB, a HYTE Y60’ish Mid tower case
Intel’s CPU Roadmap: 15th Gen Arrow Lake Arriving Q4 2024, Panther Lake and Nova Lake Follow
HYTE teases the “HYTE Y70 Touch” case with large touch screen
NVIDIA’s Data-Center Roadmap Reveals GB200 and GX200 GPUs for 2024-2025
Intel introduces 2023-2025 CPU Roadmap: 15th Gen Arrow Lake, Panther, and Nova Lake Revealed