CENTRAL, Hong Kong -
Nov. 22, 2023 -
PRLog -- Nvidia announced net profits of $9.2 billion on diluted earnings per share of $3.71, up 1,274% from this time last year. income increased by 206% to $18.1 billion, owing to enormous improvements in data center income.
Nvidia predicts sales of $20 billion plus or minus 2% in the fourth quarter, but despite the tremendous rise, investors evidently had even greater expectations, as the stock slid around 1% in after-hours trade.
The firm's data center business, which is critical to firms offering popular services such as cloud and AI, has reached stratospheric heights. For the most recent quarter, data center revenue reached a record $14.51 billion, up from $3.8 billion at this time last year, and more than the $12.7 billion predicted by Visible Alpha experts surveyed.
Nvidia is likely the best-positioned chipmaker to gain from the ongoing spike in interest in AI. Nvidia's products are in high demand, and the corporation controls up to 95% of the AI chip industry.
Despite the fact that the United States has implemented export limits, the chipmaker's ability to provide products to China, one of the world's fastest-growing markets, may be limited. This is due to Nvidia's rapid response with a new portfolio of products intended for the Chinese market and in conformity with US export regulations.
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