TSLA - Nvidia's Latest Results Are Proof Of AI's Turbocharging Potential For Business | Benzinga
On Wednesday, Nvidia Corporation (NASDAQ: NVDA) delivered its fourth quarter results and they smashed Wall Street’s expectations across the board as generative AI demand is surging across the globe. While the Data Center business is running the show, Nvidia’s gaming business also has an important role in its success. Over the last 12 months, Nvidia’s stock price easily surpassed those of its rivals, Advanced Micro Devices (NASDAQ: AMD) and Intel (NASDAQ: INTC).
Fourth Quarter Highlights
For the quarter ended on January 29th, Nvidia reported total revenue grew 265% to $22.10 billion, topping LSEG’s estimate of $20.62 billion. Data Center business, which includes sales of its high-powered GPUs for AI applications, saw revenue skyrocket 217% to $18.4 billion, also beating analysts' expectations of $17.2 billion. However, data center revenue was harmed by recent U.S. restrictions on exporting advanced AI chips to China.
The gaming segment brought in 2.9 billion, topping analyst estimates of $2.7 billion ...