NVIDIA reported quarterly revenue of $7.19B, down 13% compared to a year ago but well above its outlook. More significantly, NVIDIA again affirmed that Cloud Service Providers (CSPs) and enterprises are racing to deploy its flagship NVIDIA Hopper- and Ampere-architecture GPUs to meet surge in interest in generative AI.
GAAP earnings per diluted share for the quarter were $0.82, up 28% from a year ago and up 44% from the previous quarter. Non-GAAP earnings per diluted share were $1.09, down 20% from a year ago and up 24% from the previous quarter.
“The computer industry is going through two simultaneous transitions — accelerated computing and generative AI,” said Jensen Huang, founder and CEO of NVIDIA. “A trillion dollars of installed global data center infrastructure will transition from general purpose to accelerated computing as companies race to apply generative AI into every product, service and business process. Our entire data center family of products — H100, Grace CPU, Grace Hopper Superchip, NVLink, Quantum 400 InfiniBand and BlueField-3 DPU — is in production. We are significantly increasing our supply to meet surging demand for them.”
Some highlights
- Data center first-quarter revenue was a record $4.28 billion, up 14% from a year ago and up 18% from the previous quarter.
- Google Cloud is the first cloud provider offering the new NVIDIA L4 Tensor Core GPU to accelerate generative AI applications.
- Gaming first-quarter revenue was $2.24 billion, down 38% from a year ago and up 22% from the previous quarter.
- Professional Visualization first-quarter revenue was $295 million, down 53% from a year ago and up 31% from the previous quarter.
- Automotive first-quarter revenue was a record $296 million, up 114% from a year ago and up 1% from the previous quarter.
