The continued high demand for high-performance processors for artificial intelligence (AI). Nvidia once again helped us achieve strong quarterly results. The Sales volume increased by 73 percent year-on-year to a high of 68.1 billion US dollars (equivalent to around 58 billion euros) in the fourth quarter of the past financial year, announced the world’s largest chip company. Quarterly profit grew by 94 percent year-on-year to $42.9 billion – almost doubling.
reported for the entire financial year Nvidia sales of $215.9 billion. This corresponds to an increase of 65 percent compared to the previous year. Profit for the entire fiscal year was $120 billion – after $72.9 billion a year earlier.
“The demand for computing power is growing exponentially,” said CEO Jensen Huang. With the next generation of Vera Rubin processors, the company will expand its leading market position.
Sales are expected to continue to rise in the current quarter
The group thus exceeded Wall Street’s expectations. Nvidia shares rose 3.5 percent in after-hours trading.
Nvidia chip systems are a key technology for the development of software with artificial intelligence. They are used for the complex training of AI models Chatbots like ChatGPT used as well as when operating such software. The Nvidia results are therefore an indication of the state of the AI industry. In recent months there have been repeated concerns on the stock markets that the great expectations of future AI business could have led to a bubble in the share prices of tech companies.
However, Nvidia also presented an extremely confident forecast for the current quarter. Accordingly, the group is targeting revenues of $78 billion, with a fluctuation range of two percent. That’s another ten billion dollars more than in the previous quarter.
