AI Chipmaker, NVIDIA, has announced robust financial results for the third quarter ending October 29, 2023, with revenue reaching $18.12 billion, marking a remarkable 206% increase from the previous year and a substantial 34% growth from the preceding quarter. In terms of GAAP earnings per diluted share, the quarter recorded $3.71, exhibiting an impressive surge of over 12 times compared to the same period last year and a notable 50% increase from the previous quarter. Meanwhile, non-GAAP earnings per diluted share stood at $4.02, witnessing a substantial growth of nearly 6 times year-over-year and a significant 49% rise from the previous quarter.
Jensen Huang, the founder and CEO of NVIDIA, attributed this robust growth to the industry’s broad platform transition from general-purpose to accelerated computing and generative AI. He emphasized the pivotal role of NVIDIA’s GPUs, CPUs, networking, AI foundry services, and NVIDIA AI Enterprise software as significant contributors to this growth.
Huang highlighted the emergence of the generative AI era, indicating that large language model startups, consumer internet companies, and global cloud service providers have been early adopters. The next waves are already underway, with nations, regional CSPs, enterprise software companies, and various industries investing in AI to cater to evolving demands and drive innovation.
Key highlights from the financial report include record-breaking revenue of $18.12 billion, representing a 34% increase from the second quarter and an outstanding 206% surge from the same period last year. Additionally, Data Center revenue reached a record high of $14.51 billion, marking a remarkable 41% increase from the second quarter and an extraordinary 279% growth from the previous year.
