The big hype within the traditional financial world at the moment is Nvidia. In a short time, the chip manufacturer managed to become the most valuable company in the world, and the company continues to amaze in terms of financial figures. Yesterday it announced that revenue in Q3 2024 was a solid 95% higher than that of Q3 2023.
Artificial intelligence remains as popular as ever
These types of figures show that artificial intelligence, which of course remains a fairly broad term, is as popular as ever on the financial markets.
Although more and more experts warn us that it may take years before the technology really helps humanity, Nvidia continues to amaze with strong sales figures.
For example, Nvidia’s data center segment increased by 111% to $30.8 million. Gaming, Professional Visualization and Automotive also performed well for Nvidia with increases of 14%, 16% and 72%.
Nvidia’s share price rose almost 30% last quarter, while an increase of almost 200% is expected this year.
“The AI era is in full swing, driving a global shift to Nvidia computing,” said Founder and CEO Jensen Huang.
In addition, Nvidia continues to dominate the GPU mining market. According to the latest data, see image above, Nvidia video cards are still the best choice for miners.
Looking for new business
While revenues are increasing, Nvidia is not yet satisfied, and they are also looking at other possible businesses to expand their portfolio. The company is currently also working on humanoid robots, just like Elon Musk’s Tesla, which seems to be quite far along.
The fact that Nvidia is doing well is evident from the total market value of the company. For example, it is the largest company in the world in terms of market cap, and is worth more than the combined market value of all companies in the American Russell 2000.
In addition, the stock accounts for 43% of the increases in the S&P 500.
Such growth also poses problems. Within America, the Department of Justice has started an investigation into Nvidia’s dominant position in sectors such as crypto mining and artificial intelligence.
If that position of power proves to be too strong and counteracts market forces, this could have consequences for the company.
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Source: https://newsbit.nl/q3-omzet-nvidia-stijgt-95-en-schiet-alle-verwachtingen-voorbij/
