The world’s most valuable company, Nvidia, has demonstrated remarkable financial performance with revenue nearly doubling in its latest quarterly report, driven by unprecedented demand for artificial intelligence infrastructure.
The tech giant reported revenue of $35.1 billion for the quarter ending October, marking a 94% increase compared to the previous year. whilst slightly slower than the preceding quarter’s growth rate, these figures significantly exceeded analysts’ expectations of $33.25 billion.
Looking ahead, Nvidia projects revenue of $37.5 billion for the current quarter, aligning with market consensus of $37 billion. Despite these impressive results, the company’s shares experienced a modest 1.4% decline in after-hours trading, reflecting the extraordinarily high expectations investors have placed on the AI chip manufacturer.
Chief Executive Jensen Huang addressed concerns regarding the company’s new Blackwell chip generation, dismissing reports of overheating issues. He emphasised that Blackwell sales have exceeded initial forecasts, with delivery volumes surpassing previous estimates of “several billion” dollars for the fiscal year.
Data centre revenue, primarily driven by Nvidia’s Hopper chips, reached $30.8 billion, representing a 112% year-on-year increase. Major technology companies continue to invest heavily in data centre infrastructure, with spending expected to grow through 2025.
The company’s market value has soared to $3.6 trillion, making it the world’s most valuable listed company. With gross margins at 75% and adjusted net income of $20 billion, Nvidia’s performance continues to serve as a crucial indicator of the broader technology market’s health.
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