Nvidia, the world’s largest chip manufacturer, has become one of the beneficiaries of the so-called artificial intelligence boom, which is confirmed by the financial results of this company.
Last Wednesday, February 21, the mentioned firm published earnings information for the fiscal quarter ended January 28. During the specified period, the company’s profit was recorded at $12.3 billion. This figure is 769% higher than the result fixed a year earlier. Also, the company’s profit for the fiscal quarter ended January 28 significantly exceeded the preliminary expectations of Wall Street analysts.
Nvidia’s revenue for the past fiscal quarter was $22.1 billion. This figure is 265% higher than the result of a year ago.
For the entire last fiscal year, Nvidia recorded revenue of $60.9 billion. This indicator showed an increase of 126% year-on-year. The company’s non-GAAP earnings per diluted share for the mentioned period were fixed at $12.96. This indicator is 288% higher than the figure a year ago.
Analysts say that the company managed to ride the wave of large-scale investments in the sphere of artificial intelligence, which is currently in a state of active growth. Nvidia CEO Jensen Huang said on Wednesday that demand for the firm’s products shows an increasing trend among businesses, industries, and nations. He also compared the process of large-scale implementation of artificial intelligence technology with the beginning of a new industrial revolution.
Nvidia is currently the undisputed leader in the sphere of manufacturing processors for machine intelligence systems, which so far has no competitors approaching challenging its primacy. This is not a laudatory exaggeration, but a statement of an objective fact.
Dan Morgan, vice president of Synovus Trust Company, says that currently, Nvidia’s share in the structure of global sales of artificial intelligence semiconductors is about 70%. This indicator remains stable even against the background of the fact that Meta, Amazon, IBM, and Microsoft have launched independent production of some of their own chips.
As we have reported earlier, Nvidia to Launch Special Version of Its Gaming Chip for China.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
