In comparison to the same period last year, the technology giant stated that revenues in the three months ended January 28 increased by 265% to $22 billion (£17.4 billion).
Turnover increased to $60.9 billion for the entire year, more than double.
“Generative AI and accelerated computing have reached a tipping point,” Nvidia CEO Jensen Huang declared.
“Demand is surging worldwide across companies, industries and nations.”
Additionally, Nvidia exceeded analyst expectations by projecting a 233% increase in quarterly revenues for the current quarter.
Bob O’Donnell of Technalysis Research told the news, “They really absolutely knocked it out of the park. There was a lot riding on this last quarter.”
He went on, “We’re starting to see mainstream usage of AI,” emphasizing that specialized technology companies are no longer the only ones using AI.
Apart from its AI chips, the company’s data center revenues have experienced a sharp increase.
After expanding more than five times over the previous year, its data center business accounted for the great majority of its revenues in the most recent quarter.
