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EDACafe Editorial ![]() Sanjay Gangal
Sanjay Gangal is the President of IBSystems, the parent company of AECCafe.com, MCADCafe, EDACafe.Com, GISCafe.Com, and ShareCG.Com. Epic Earnings of Chipmaker Nvidia Highlight Looming Challenges for AI’s Future: Supply, Power, and PotentialAugust 23rd, 2023 by Sanjay Gangal
NVIDIA announced its financial results for the second quarter of fiscal year 2024, reporting record revenue of $13.51 billion, an increase of 88% from the previous quarter and 101% from the same period a year ago. The company’s Data Center revenue also hit a record of $10.32 billion, rising by 141% from the previous quarter and 171% from a year ago. GAAP earnings per diluted share for the quarter were $2.48, which marked a significant increase of 854% from a year ago and 202% from the previous quarter. Non-GAAP earnings per diluted share were $2.70, up 429% from a year ago and 148% from the previous quarter. NVIDIA’s CEO, Jensen Huang, stated that a new computing era has begun, with companies transitioning to accelerated computing and generative AI. The company’s GPUs, combined with its networking technologies and software stack, play a crucial role in the emerging landscape of generative AI. ![]() NVIDIA campus in Santa Clara, Calif.
The company returned $3.38 billion to shareholders during the quarter through share repurchases and cash dividends. As of the end of the second quarter, NVIDIA had $3.95 billion remaining under its share repurchase authorization. The Board of Directors also approved an additional $25.00 billion in share repurchases. For the third quarter of fiscal 2024, NVIDIA anticipates revenue of approximately $16.00 billion, with GAAP and non-GAAP gross margins expected to be around 71.5% and 72.5%, respectively. In terms of product highlights, NVIDIA achieved significant progress across various sectors: Data Center:
Gaming:
Professional Visualization:
Automotive:
Overall, NVIDIA’s strong financial results highlight its leadership in AI, accelerated computing, and generative AI applications across various industries. Category: Nvidia |