Nvidia reported its third-quarter revenue figures, which, contrary to popular belief, surpassed every expectation. The revenue figures beat expectations for sales and earnings while providing a better forecast for the current quarter. With the results, Nvidia has proved that it continues to grow quickly, and the demand for its powerful AI chips is at an all-time high.
According to analysts in the London Stock Exchange Group (LSEG), the expected earnings per share were 75 cents, with a total revenue of $33.16 billion. However, Nvidia earned at a rate of 81 cents per share for a total revenue of $35.08 billion. This marks a 94% surge in revenue on an annual basis, which is significantly lower than the previous three quarters, when sales rose 122%, 262%, and 265%, respectively. As far as the predictions for the fourth quarter are concerned, the LSEG estimates that it will be around $37.08 billion, as compared to Nvidia’s prediction of $37.5 billion.
Along with a constant surge in revenue, Nvidia recently became the most valuable company in the world, surpassing Apple. This is mainly because of the ongoing artificial intelligence boom. Also, Nvidia has started delivering itslatest AI chips, the Blackwall chips to its high-end customers like Microsoft, Oracle, OpenAI, and more.
Nvidia’s Chief Financial Officer, Colette Kress, told the press that around 13,000 samples of their AI chips have been sent to their customers. He further stated, “Every customer is racing to be the first to market. Blackwell is now in the hands of all of our major partners, and they are working to bring up their data centers.”
