Nvidia posts record revenue of $81bn thanks to AI chip boom
Nvidia has recorded an unprecedented quarterly revenue of $81.6 billion (€70.2 billion). This figure represents a massive increase of 85% compared to the previous year and a 20% rise on the previous quarter.
The Santa Clara-based company also saw its net profit rise to $58.3 billion (€50.1 billion), a spectacular increase from the $18.8 billion (€16.2 billion) earned a year ago and the $43 billion (€37 billion) reported in the previous quarter.
Driven by the relentless demand for components for AI data centres, the company forecasts that revenue in the current quarter will amount to around $91 billion (€78.3 billion). This financial momentum has pushed Nvidia’s market capitalisation above $5 trillion (€4.3 trillion), making it the most valuable company in the world, as tech giants continue to pour capital into AI developments. CEO Jensen Huang described the rapid construction of AI facilities as the most significant expansion of infrastructure in history.
Despite this dominance, new competitors are entering the market. Cerebras Systems recently completed the most successful stock market flotation of the year in New York, drawing attention to its specialised hardware. Cerebras claims that its extra-large, powerful chips can process enormous datasets and run AI models more efficiently than Nvidia’s current range.
Business AM
Subscribers 0
Fans 0
Followers 0
Followers