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Nvidia Q3 performance explosive growth! Huang Renxun: The AI era is taking off

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On Tuesday Eastern Time, NVIDIA released its third quarter financial report, demonstrating the strong growth momentum brought by the artificial intelligence boom to the company.
NVIDIA Gains Strong Performance Through AI Boom
According to the financial report, for the third quarter ended October 29th:
Nvidia's revenue was $18.12 billion, an increase of 206% compared to the same period last year and a record high of 34% compared to the previous fiscal quarter.
The GAAP diluted profit per share for the fiscal quarter was $3.71, a year-on-year increase of over 12 times and a month on month increase of 50%. Non GAAP's diluted profit per share was $4.02, a nearly 6-fold increase from the same period last year and a 49% increase from the previous quarter.
It is worth mentioning that NVIDIA's data center business is key to providing services such as cloud computing and artificial intelligence. In the third quarter of this year, Nvidia's data center revenue reached a record high of $14.51 billion, far higher than the $3.8 billion in the same period last year and also higher than analysts' expectations of $12.7 billion
Nvidia's revenue skyrocketed
Huang Renxun, founder and CEO of NVIDIA, stated that our strong growth reflects the shift of a wide range of industry platforms from general-purpose to accelerated computing and generation of artificial intelligence.
Big language model startups, consumer internet companies, and global cloud service providers are pioneers, and the next wave is beginning to form. Communication service providers from various countries and regions are investing in artificial intelligence clouds to meet local needs, major enterprise software companies are adding artificial intelligence co pilot and assistant services to their platforms, and major enterprises are creating customized artificial intelligence to achieve automation in the world's largest industry.
NVIDIA's GPUs, CPUs, networks, AI outsourcing services, and NVIDIA AI enterprise software are all engines of full growth. The era of generative artificial intelligence is taking off
Expected to continue growing in the next quarter
Looking ahead to the future, Nvidia expects its revenue to reach $20 billion in the fourth fiscal quarter, with a fluctuation of 2%; It is expected that the gross profit margin of GAAP and non GAAP in the fourth fiscal quarter will be 74.5% and 75.5% respectively, with a fluctuation of 50 basis points.
NVIDIA's stock price closed at a historic high on Monday and fell 0.92% to $499.44 on Tuesday. As of press release, NVIDIA's stock price has subsequently fallen by 1.4%.
NVIDIA's stock price rose to a historic high on Monday
In the past year, NVIDIA's stock price has more than doubled, making it one of the best performing stocks on Wall Street and increasing its market value to over $1.2 trillion.
Colette Kress, NVIDIA's Chief Financial Officer, raised concerns about the impact of US restrictions on China's high-performance chip exports in a report to investors. She stated that the company expects a "significant decline" in sales to Asian countries in the current quarter, but this should be "offset by strong growth in other regions".
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