The recent surge in interest in artificial intelligence has significantly boosted NVIDIA’s earnings. The company shipped 3.76 million data center GPUs in 2023, up 42% (or one million units) from the previous year. In total, NVIDIA occupies 98% of the market for graphics accelerators for computing centers.

In addition, NVIDIA holds 88% of the graphics card market, with 7.66 million units in the first quarter, even before the release of the GeForce RTX 50xx series, which is expected in the fourth quarter of 2024. In absolute terms, NVIDIA’s revenue for 2023 was $60.9 billion, up 126% from 2022. This impressive result was achieved despite the US ban on chip exports to China and TSMC’s inability to fully meet the demand for AI GPUs.

Thanks to such successes, NVIDIA recently overtook Apple for a while in terms of market capitalization and now ranks third among the most valuable companies in the world.