Artificial intelligence technology has truly left its mark on 2023. This technology, which has suddenly appeared in every aspect of our lives and in every service we use, has benefited NVIDIA the most. As evident in the financial reports for the third quarter of 2023 released by the company, NVIDIA increased its revenues by 206% in the last three months, reaching $18.12 billion. During the same period, its profit also increased by 588%. Here are the details…

NVIDIA Profits Skyrocket, Revenue Doubles in Q3

Although NVIDIA is perceived by many as merely a graphics card manufacturer, the reality is much different. The company has a variety of products ranging from data center equipment to chips like the H100 that power artificial intelligence technologies such as ChatGPT. Moreover, thanks to the AI frenzy in 2023, these products are more popular than ever. This demand is also reflected in the company’s financial statements.

According to the reports, NVIDIA generated $18.12 billion in revenue in this quarter across its various subsidiaries operating in different fields. Approximately $14.5 billion of this amount came from hardware sales that enable the operation of artificial intelligence technologies. To put it into perspective, the $18.2 billion earned is 206% more than the previous quarter.

Now, what would be considered a profitable figure for a company to be deemed successful with a $18.2 billion revenue? NVIDIA’s answer to this question is nothing short of impressive. The company achieved a net profit of $10 billion. To scale it, in the same period last year, this amount was $1.4 billion, indicating a staggering 588% growth.

Although NVIDIA’s goal for this quarter was to reach a revenue of $20 billion, the company needs to put in a bit more effort to achieve its targets due to embargoes in countries such as China, Saudi Arabia, and the UAE.

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