Dataconomy
  • News
    • Artificial Intelligence
    • Cybersecurity
    • DeFi & Blockchain
    • Finance
    • Gaming
    • Startups
    • Tech
  • Industry
  • Research
  • Resources
    • Articles
    • Guides
    • Case Studies
    • Glossary
    • Whitepapers
  • Newsletter
  • + More
    • Conversations
    • Events
    • About
      • About
      • Contact
      • Imprint
      • Legal & Privacy
      • Partner With Us
Subscribe
No Result
View All Result
  • AI
  • Tech
  • Cybersecurity
  • Finance
  • DeFi & Blockchain
  • Startups
  • Gaming
Dataconomy
  • News
    • Artificial Intelligence
    • Cybersecurity
    • DeFi & Blockchain
    • Finance
    • Gaming
    • Startups
    • Tech
  • Industry
  • Research
  • Resources
    • Articles
    • Guides
    • Case Studies
    • Glossary
    • Whitepapers
  • Newsletter
  • + More
    • Conversations
    • Events
    • About
      • About
      • Contact
      • Imprint
      • Legal & Privacy
      • Partner With Us
Subscribe
No Result
View All Result
Dataconomy
No Result
View All Result

How Nvidia turned AI demand into a $35.1 billion windfall

Nvidia's data center business significantly contributed to the company's success, generating $30.8 billion in revenue—a 112% year-over-year increase

byKerem Gülen
November 21, 2024
in News
Home News

Nvidia reported nearly doubled revenue of $35.1 billion for the quarter ending October 31, 2024, driven by soaring demand for its AI semiconductors. This marks a 94% increase compared to the same period last year, positioning Nvidia as a leader in artificial intelligence technology.

Nvidia reports $35.1 billion revenue surge on AI demand

Nvidia’s data center business significantly contributed to the company’s success, generating $30.8 billion in revenue—a 112% year-over-year increase. The company anticipates revenue for the current quarter, ending January 2025, to reach approximately $37.5 billion, which could vary by 2%. After exceeding Wall Street’s expectations for both sales and earnings, Nvidia’s third-quarter report showcased continued rapid growth amid a rising global AI market.

The company’s market value reached $3.579 trillion, surpassing Apple’s market cap of $3.461 trillion and placing Nvidia atop the S&P 500. With a staggering 195% stock increase this year, an investment of $100,000 made two years ago would be worth over $950,000 today. Nvidia’s performance accounted for about 25% of the gains in the S&P 500 as of October 31, and it has recently replaced Intel in the Dow Jones Industrial Average.

Stay Ahead of the Curve!

Don't miss out on the latest insights, trends, and analysis in the world of data, technology, and startups. Subscribe to our newsletter and get exclusive content delivered straight to your inbox.

Analysts project Nvidia’s revenue will rise to $126.5 billion for the fiscal year ending January 2025, significantly more than four times its earnings two years ago. The anticipated performance is further fueled by Nvidia’s upcoming AI chip, Blackwell, which is expected to sustain this accelerated growth rate as demand for AI solutions remains strong.

The introduction of Blackwell is anticipated to drive substantial revenue in the fourth quarter, with Nvidia’s Chief Financial Officer Colette Kress noting that 13,000 samples have already been shipped to key customers. Significant investments from companies such as Microsoft, Oracle, and OpenAI in Nvidia’s technology underscore the burgeoning market for AI applications. While the demand for Blackwell is high, Kress highlighted that supply constraints might occur in fiscal 2026.


Cooling issues won’t halt Blackwell AI chip sales, Nvidia claims


In addition to data centers, Nvidia reported $3.28 billion in revenue from its gaming division, surpassing expectations of $3.03 billion. The increase in gaming revenue is attributed to higher demand for graphics processing units (GPUs) for PCs, laptops, and game consoles, including the Nintendo Switch. However, both Hopper and Blackwell systems face supply constraints, which could limit growth given the rising demand.

Nvidia’s automotive and professional visualization sectors generated $449 million and $486 million in sales, respectively, showcasing growth of 72% and 17% year-over-year. These segments may not be as large as the data center and gaming divisions, but they indicate Nvidia’s diversification and adaptability in emerging technology markets.


Featured image credit: Nvidia

Tags: FeaturedNvidia

Related Posts

Judge rules Google won’t have to sell Chrome browser

Judge rules Google won’t have to sell Chrome browser

September 3, 2025
ShinyHunters uses vishing to breach Salesforce data

ShinyHunters uses vishing to breach Salesforce data

September 3, 2025
NotebookLM adds brief, critique, debate audio formats

NotebookLM adds brief, critique, debate audio formats

September 3, 2025
OpenAI acquires Statsig for .1B and assign Vijaye Raji as the new CTO

OpenAI acquires Statsig for $1.1B and assign Vijaye Raji as the new CTO

September 3, 2025
Google Home gets Gemini integration October 1

Google Home gets Gemini integration October 1

September 3, 2025
WordPress unveils Telex AI tool for Gutenberg blocks

WordPress unveils Telex AI tool for Gutenberg blocks

September 3, 2025

LATEST NEWS

Judge rules Google won’t have to sell Chrome browser

ShinyHunters uses vishing to breach Salesforce data

NotebookLM adds brief, critique, debate audio formats

OpenAI acquires Statsig for $1.1B and assign Vijaye Raji as the new CTO

Google Home gets Gemini integration October 1

WordPress unveils Telex AI tool for Gutenberg blocks

Dataconomy

COPYRIGHT © DATACONOMY MEDIA GMBH, ALL RIGHTS RESERVED.

  • About
  • Imprint
  • Contact
  • Legal & Privacy

Follow Us

  • News
    • Artificial Intelligence
    • Cybersecurity
    • DeFi & Blockchain
    • Finance
    • Gaming
    • Startups
    • Tech
  • Industry
  • Research
  • Resources
    • Articles
    • Guides
    • Case Studies
    • Glossary
    • Whitepapers
  • Newsletter
  • + More
    • Conversations
    • Events
    • About
      • About
      • Contact
      • Imprint
      • Legal & Privacy
      • Partner With Us
No Result
View All Result
Subscribe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Policy.