Nvidia's Q3 revenue surged 94% driven by AI infrastructure build-out, with continued growth projected for Q4.

From Nasdaq: 2024-11-24 06:15:00

Nvidia (NASDAQ: NVDA) continues to benefit from the AI infrastructure build-out, with Q3 revenue surging 94% to $35.1 billion. Data center revenue led the way, up 112% to $30.8 billion. Gaming revenue also jumped 15% to $3.3 billion. Nvidia projects Q4 revenue of $37.5 billion, driven by demand for its Hopper and Blackwell GPUs.

Despite the stock’s nearly tripled performance this year, Nvidia remains attractively valued with a forward P/E of just over 34. The company is seeing strong demand beyond cloud computing customers and expects continued growth in enterprise and industrial sectors. With insatiable demand for GPUs, Nvidia remains an attractive investment option.

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