Nvidia Corp, the world’s largest company by market capitalisation, has posted large increases in quarterly and nine-month revenue and profits as the artificial intelligence (AI) “revolution” drives strong demand for its computing products.
The U.S. company, which calls itself the world’s leader in AI computing, said revenue for the third quarter ended 27 October was US$35.1 (A$53.9 million) billion, up 17% from the previous quarter and up 94% from the same quarter a year ago.
Nvidia said GAAP (generally accepted accounting principles) diluted earnings per share (EPS) were $0.78, up 16% from the previous quarter and 111% from a year ago, while non-GAAP diluted EPS was $0.81, up 19% and 103% respectively.
Nvidia founder and CEO Jensen Huang said the age of AI was in full steam and was propelling a global shift to NVIDIA computing.
He said demand for Nvidia’s Hopper graphics processing unit (GPU) architecture and anticipation for its successor Blackwell, which is in full production, was incredible as foundation model makers scaled pretraining, post-training and inference.
“AI is transforming every industry, company and country. Enterprises are adopting agentic AI to revolutionise workflows. Industrial robotics investments are surging with breakthroughs in physical AI. And countries have awakened to the importance of developing their national AI and infrastructure,” Huang said in a statement.
Nvidia shares closed after the announcement at US$145.89 (A$224.29), $1.12 (0.76%) lower after trading between $142.73 and $145.76 and capitalising the company at $3.58 trillion, making it the largest company in the world by market capitalisation.
The company is best known for designing and manufacturing graphics processing units (GPUs) for gaming, professional markets and AI.
The share price has risen 189% over the last year and more than 2,600% over the last five years.
Nvidia is the last of the so-called Magnificent Seven tech stocks to report its quarterly results, following results from Google parent Alphabet, Apple, Microsoft, Amazon, Tesla and Facebook parent Meta Platforms.
They are closely watched because of their outsized impact on the Nasdaq composite and S&P 500 indices.
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