META - Nvidia: New Products Should Drive Further Momentum
2024-03-12 01:11:28 ET
Summary
- Nvidia's FY4Q24 results continued to exceed expectations, with its datacenter business once again beating all expectations.
- Datacenter revenues grew 27% sequentially, while gaming revenues remained flat and automotive segment grew 8%.
- Nvidia continues to extend its lead with the scaling up of the H200, the world's most powerful GPU, with enhanced performance and memory capacity.
- In the fourth quarter, more than half of Nvidia's data center revenues came from the large cloud providers like AWS, Azure and Google Cloud.
- 40% of its data center revenue for the last year was for AI inference, which shows end customers are using AI for real world use cases.
Nvidia ( NVDA ) reported their FY4Q24 results, which continued to show strength in their business fundamentals while growing its lead over competitors.
2024 looks like a year for Nvidia given that demand continues to exceed supply through the year.
Nvidia is also not slowing down as it continues to grow its moat and ecosystem, launching new and innovative products, proving itself to be a leader in the space by a margin.
I think that after this report, I am still a buyer of Nvidia after given the very strong tailwinds the company is likely to continue to experience in 2024....
Nvidia: New Products Should Drive Further Momentum