New York: The world’s most valued chipmaker, Nvidia Corporation, reported revenues of $44.1 billion, surpassing Wall Street expectations, despite the US curbs on semiconductor exports to China resulting in $15 billion of missed sales opportunities.
Nvidia’s net income rose to $18.8 billion, a 26% YoY increase due to strong demand for its high-performance GPUs that power artificial intelligence applications, data centers and cloud computing infrastructure.
Nvidia has declared a dividend of $0.01 per share for this quarter, as per a press release on its site.
“Global demand for NVIDIA’s AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate. Countries around the world are recognizing AI as essential infrastructure — just like electricity and the internet — and NVIDIA stands at the center of this profound transformation.” Jensen Huang, Nvidia’s CEO, said.
Nvidia also plans to increase manufacturing of AI chips and supercomputers in Arizona and Texas in the US as an insurance against future trade risks.
Nvidia’s data centres remain the feather in its cap, with revenues soaring to $22.6 billion, even as its gaming, professional visualization and automotive units posted moderate growth. Industry giants like Microsoft, Meta, Google and Amazon continue to ramp up spending on Nvidia’s flagship H100 and A100 chips.
After the announcement, Nvidia shares rose more than 4 per cent in after-hours trading on the NASDAQ.
