Nvidia exhibits substantial revenue growth, focusing on generative AI

Nvidia's recent financial report for the third quarter ending October 29, 2023, revealed a remarkable increase in revenue. The $18.12 billion figure is a 206% increase over the previous year and 34% more than the previous quarter, highlighting the company's success in technology and innovation.

Jensen Huang, the head of Nvidia, emphasized the company's role in the development of generative AI and accelerated computing. According to him, the company's contributions in these areas are beginning to bear fruit, especially in the context of increasing demand for AI solutions in various industries.

In the gaming segment, Nvidia also saw growth: revenues from graphics card sales reached $2.86 billion, 15% more than in the previous quarter and 81% more than the previous year. The GeForce NOW service continues to expand its library, offering over 1700 games, including new releases like Alan Wake 2 and Cyberpunk 2077: Phantom Liberty.

Nvidia anticipates further revenue growth in the fourth quarter of the 2024 fiscal year, forecasting earnings of around $20 billion. This suggests a continued trend of growth and innovation for the company.