Nvidia's Revenue Triples As AI Chip Boom Continues

Nvidia's fiscal third-quarter results surpassed Wall Street's predictions, with revenue growing 206% year over year. However, Nvidia shares are down after the company called for a negative impact in the next quarter due to export restrictions affecting sales in China and other countries. CNBC reports: Nvidia's revenue grew 206% year over year during the quarter ending Oct. 29, according to a statement. Net income, at $9.24 billion, or $3.71 per share, was up from $680 million, or 27 cents per share, in the same quarter a year ago. The company's data center revenue totaled $14.51 billion, up 279% and more than the StreetAccount consensus of $12.97 billion. Half of the data center revenue came from cloud infrastructure providers such as Amazon, and the other from consumer internet entities and large companies, Nvidia said. Healthy uptake came from clouds that specialize in renting out GPUs to clients, Kress said on the call. The gaming segment contributed $2.86 billion, up 81% and higher than the $2.68 billion StreetAccount consensus. With respect to guidance, Nvidia called for $20 billion in revenue for the fiscal fourth quarter. That implies nearly 231% revenue growth. [...] Nvidia faces obstacles, including competition from AMD and lower revenue because of export restrictions that can limit sales of its GPUs in China. But ahead of Tuesday report, some analysts were nevertheless optimistic.

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