Nvidia, the leading manufacturer of Artificial Intelligence (AI) and graphics chips, reported revenue of $7.19 billion for the first fiscal quarter ended April 30, which is down 13% from a year ago but higher than analysts’ expectations. The data center revenue of $4.28 billion for the first quarter was a record high, 14% higher than a year ago. This is a sign that data center customers are on the road of recovery. They announced the GeForce RTX 4060 family of GPUs, which are equipped with the latest Nvidia Ada Lovelace architecture and DLSS, starting at $299. Also, they launched the GeForce RTX 4070GPU that is capable of providing DLSS 3, real-time ray-tracing and high quality gaming performance. In addition, they added 36 DLSS gaming titles, bringing the total number of games and apps to 300 and GeForce Now’s game titles to more than 1,600.
The adjusted earnings for Nvidia in this quarter was $1.09 per share on $2.7 billion in adjusted net income, which is 20% lower than the same period a year ago. To meet customer’s demand for acceleration option they released four inference platforms. The automotive designs win pipeline of Nvidia has grown to $14 billion within the next six years, which is $3 billion more than a year ago.
Jensen Huang, founder and CEO of Nvidia, stated that the computer industry is going through two simultaneous transitions: accelerated computing and generative AI. He mentioned that they are significantly increasing their production to meet the increasing demand for their products and services. He also expected a considerable bump in the revenue of the second fiscal quarter ending July 31 to be $11 billion.
