Nvidia is setting new financial records, as shown in its latest quarterly report, nearly doubling its revenue from the third quarter of last year (2024). The tech giant announced a remarkable performance for the three months that ended in October 2024, bringing in revenue of $35.1 billion—a 17% increase from the last quarter and an incredible 94% rise compared to the same time last year.
Data Center Growth
The report indicates that a large part of this growth came from Nvidia's data center sector, which achieved record revenue of $30.8 billion. This marks a 17% increase from the previous quarter and a stunning 112% rise compared to the same quarter last year. A key factor in this success was the high demand for specific chips like the Hopper and Blackwell platforms, as customers are increasingly using Nvidia-powered systems for a variety of applications, from training large language models to supporting AI-driven cloud services.
Cloud Partnerships
Nvidia also pointed out the strengthening of its global cloud partnerships, with major players like Amazon Web Services (AWS), Microsoft Azure, and CoreWeave providing instances powered by the Hopper H200. The company feels that this collaboration has played a crucial role in maintaining its lead in the AI infrastructure market.
Gaming and Professional Visualization
Moreover, the report highlighted growth in Nvidia's gaming and professional visualization sectors, although the increases were less significant. For Q3, the gaming revenue reached $3.3 billion, which is a 14% rise from the previous quarter. This growth is linked to the ongoing transition in gaming towards AI-enhanced graphics and immersive experiences. New AI-powered PCs and games, like Indiana Jones and the Great Circle, are pushing the limits of interactive entertainment.
The revenue from the professional visualization segment saw a 17% increase year-over-year, as various industries are adopting Nvidias’s Omniverse platform to develop digital twins and optimize workflows in manufacturing, media, and design.
Future Projections
Looking forward, the company anticipates that the momentum will carry on into the fourth quarter, projecting a revenue of $37.5 billion, which reflects the continuing global demand for AI infrastructure and solutions.
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