Nvidia's Q3 earnings show explosive growth driven by data center segment, revenue up 94%.

From Nasdaq: 2024-11-30 08:15:00

Nvidia (NASDAQ: NVDA) reported explosive growth in Q3 earnings, largely driven by the data center segment. Data center revenue climbed 112% YoY to $30.8 billion, with compute revenue up 132% to $27.6 billion. Nvidia’s AI offerings in the data center compute platform continue to fuel its rapid growth.

While Nvidia’s overall revenue jumped 94% YoY to $35.1 billion in Q3, the data center segment outperformed with a 112% growth to $30.8 billion. Data center compute revenue, driven by AI training and inference, saw a 132% increase to $27.6 billion, showcasing Nvidia’s strong performance in this sector.

Nvidia’s data center compute platform is essential to its AI offerings, providing components like GPUs and software development kits. The company’s sequential revenue growth of 22% in this segment indicates strong demand and potential for continued growth, especially with the launch of the new Blackwell platform.

Investors may have overlooked Nvidia’s strong performance in the data center compute segment, which saw 22% sequential growth and 132% YoY growth to $27.6 billion. With demand outstripping supply, Nvidia’s position in the AI market remains strong, making it a compelling investment opportunity for the future.

Nvidia’s stock dipped slightly after Q3 earnings, but the company’s history of surpassing guidance suggests strong potential for growth. With a forecasted revenue of $37.5 billion in Q4, Nvidia’s data center compute business and Blackwell platform are expected to drive continued success in the coming quarters.



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