Nvidia posts record $6.1 billion profit as gaming goes mainstream
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san francisco (Best Hindu News): Graphics chip giant Nvidia has earned a profit of $ 6.188 billion in the second quarter, which is 843 percent more than the same quarter last year.
The company reported revenue of $13.51 billion for the quarter ended June 30, up 101 percent from a year ago and 88 percent from the first quarter of this year. Gaming revenue also grew 22 percent year-over-year to reach $2.48 billion.
The company reported data center revenue of $10.32 billion, up 171 percent from a year earlier.
Jensen Huang, Founder and CEO of Nvidia, said, “A new computing era has begun. Companies around the world are making the shift towards general-purpose accelerated computing and generative AI.”
The company expects revenue of $16 billion in the next quarter.
“There is tremendous demand for Nvidia accelerated computing and AI platforms,” said Colette Kress, Executive Vice President and Chief Financial Officer, Nvidia. Our supply partners have been exceptional in ramping up capacity to meet our needs.
“We expect supply to increase every quarter for the next year. On a geographic basis, data center growth was strongest in the US as customers continue to invest capital in AI and accelerated computing.”
Consumer Internet companies also drove very strong demand for Nvidia.
Nvidia tentatively became a trillion dollar company in generative artificial intelligence (AI) tools in May.
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