The world’s top GPU maker posts record quarterly revenue amid the AI hype. Nvidia’s revenue in the second quarter of 2023 grew 101% QoQ to $13.5 billion.
Nvidia reported record quarterly revenue in its history. The report is published on the company’s website.
Revenue for the world’s leading GPU maker in the second quarter of 2023 was $13.5 billion, up 88% compared to the prior quarter and 101% compared to the second quarter of 2022.
The most significant revenue growth was shown by the data center division. Its revenue of $10.3 billion was also a record, growing 171% compared to the second quarter of 2022.
Nvidia’s financial results far exceeded analysts’ expectations, writes Reuters. The agency points out that the growth of Nvidia’s business is affected by the buzz around the development of artificial intelligence technologies.
Nvidia shares on the Nasdaq reacted to the report with a 2.5% rise.
Since the beginning of the year, Nvidia’s stock has risen in price by 223%. In June, the company became the world’s first microprocessor maker to exceed $1 trillion in market capitalization.
Author:
Kirill Bilyk
Source: RB
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