Nvidia reported increased demand for generative artificial intelligence (AI) and accelerated computing in its latest earnings report on Feb. 21.
Jensen Huang, founder and CEO of Nvidia, said:
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations.”
Huang added that Nvidia RTX has become a “massive PC platform for generative AI” used by 100 million gamers and creators. He further described Nvidia’s Data Center platform and its growth in various areas, noting that vertical industry use is now at a multibillion-dollar level.
Record earnings
Nvidia’s fourth-quarter revenue hit a record high of $22.1 billion — up 265% compared to the previous year. Meanwhile, revenue for the full year stood at $60.9 billion, up 126% compared to 2022.
The company reported a net income of $12.28 billion for the fourth quarter — up 769% annually — while net income for the full year stood at $29.76 billion, up 5
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