{"id":79320,"date":"2023-05-25T14:32:14","date_gmt":"2023-05-25T11:32:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79320"},"modified":"2025-09-11T10:21:32","modified_gmt":"2025-09-11T07:21:32","slug":"nvidia-posts-revenue-as-demand-for-ai-chips-grows","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/nvidia-posts-revenue-as-demand-for-ai-chips-grows\/","title":{"rendered":"Nvidia posts revenue as demand for AI chips grows"},"content":{"rendered":"<p>Nvidia reported results for the first quarter of fiscal 2024. With demand for AI chips rising, earnings came in above expectations, <a href=\"https:\/\/www.cnbc.com\/2023\/05\/24\/nvidia-nvda-earnings-report-q1-2024.html\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">CNBC<\/a> reports.<\/p>\n<p>For the period, Nvidia&#8217;s revenue stood at $7.19 billion versus $6.52 billion expected. Adjusted earnings per share rose from $0.92 to $1.09.<\/p>\n<p>The data-centre products division generated $4.28 billion, versus $3.9 billion expected. This was 14% higher than a year earlier.<\/p>\n<p>Nvidia said profits were driven by demand for its graphics chips from cloud-service providers. Large companies also showed interest in processors for training and deploying generative AI technologies using accelerators.<\/p>\n<p>Nvidia&#8217;s gaming segment, which includes PC graphics-card production, reported revenue fell 38% to $2.24 billion, versus $1.98 billion expected. The company attributed this to macroeconomic conditions and the ramp-up of its consumer GPUs lineup.<\/p>\n<p>The automotive segment, including chips and software for autonomous-vehicle development, earned about $300 million. Year over year, growth was 114%.<\/p>\n<p>Net income for the quarter reached $2.04 billion ($0.82 per share) versus $1.62 billion ($0.64) for the same period a year earlier. Total revenue declined 13%.<\/p>\n<p>For the current quarter, Nvidia expects revenue of $11 billion, +\/- 2%. This is about 50% above Wall Street expectations.<\/p>\n<p>Following the report, the shares rose about 26% in after-hours trading. If this pace persists into the open, Nvidia could surpass Apple\u2019s record single-day gain in market value.<\/p>\n<p>In 2023, the chipmaker&#8217;s stock rose more than 100%.<\/p>\n<p>In March, Nvidia&#8217;s chief technology officer Michael Kagan <a href=\"https:\/\/forklog.com\/en\/news\/nvidia-questions-the-value-of-cryptocurrencies\">doubted the value of cryptocurrencies<\/a>.<\/p>\n<p>In April, the chipmaker <a href=\"https:\/\/forklog.com\/en\/news\/nvidia-unveils-tool-for-building-safe-ai-models\">released a tool<\/a> for creating secure AI models.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nvidia reported results for the first quarter of fiscal 2024. Against a backdrop of growing demand for AI chips, earnings came in above expectations.<\/p>\n","protected":false},"author":1,"featured_media":79321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,1294],"class_list":["post-79320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-nvidia"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=79320"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79320\/revisions"}],"predecessor-version":[{"id":79322,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79320\/revisions\/79322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79321"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}