TechJuice, February 22 - NVIDIA has just released its latest quarterly earnings, surpassing all analysts' expectations by a wide margin, thanks to Jensen Huang's success with AI. PS: Still holding out hope for a drop in consumer-grade GPU prices?
NVIDIA reported a Q4 fiscal revenue of $22.1 billion, exceeding market expectations of $20.41 billion. Adjusted profit margin for Q4 stood at 76.7%, surpassing the market expectation of 75.4%. Riding on this wave, its stock price surged by over 10% after hours.
Breaking it down, data center revenue for Q4 reached $18.4 billion, surpassing market expectations of $17.21 billion. Q1 revenue is forecasted to hit $24 billion, with a fluctuation range of no more than 2%, while market expectations hover around $21.9 billion.
"Accelerated computing and generative AI have reached a tipping point," CEO Jensen Huang stated in the financial report. "Demand from businesses, industries, and countries worldwide is skyrocketing."
NVIDIA's market value has surged by over $400 billion this year, pushing its market cap to $1.67 trillion, as investors bet on the company remaining a primary beneficiary of the AI boom.
