Nvidia Breaks Record with $96.2 Billion in Quarterly Revenue
Doubling its profit driven by strong growth in the data center business, the company is preparing to join firms crossing the $100 billion threshold, following Amazon, Apple, and Alphabet.
Chipmaker Nvidia announced that it broke a record by generating $96.2 billion in revenue in the last quarter and projected that its quarterly revenue will reach $108 billion in the next few months.
Massive Surge in Data Center Revenues
According to Nvidia's latest earnings report, total revenue increased by more than $10 billion compared to the previous quarter, reaching a record level of $96.2 billion.
While the revenue generated from the company's data center unit more than doubled year-over-year to $89 billion, its net income also more than doubled to $59.7 billion.
Consumer Segment and Price Increases
The edge computing category, which also includes the consumer gaming business, generated $7.2 billion in revenue with a 27% annual increase. However, the company stated that rising memory and system prices have slowed down consumer PC sales.
While component shortages continue to drive up the prices of consumer graphics processing units, the company also warned that there may be price increases for artificial intelligence chips.