NVIDIA will release new video cards every year. The company’s revenue grew by 262% for the quarter
31.05.24
NVIDIA’s revenue rose 262% last quarter, beating investors’ expectations and sending the company’s stock soaring. The company announced a 10-to-1 stock split effective June 7 and a 150% quarterly dividend increase.
Revenue for the quarter was $26 billion, beating previous estimates of $24.7 billion, thanks to record sales of artificial intelligence chips. Revenue for the current quarter is expected to be around $28 billion. Shares of NVIDIA, which have gained more than 90% since the start of the year, rose 2% on the day.
Google, Microsoft, Meta and Amazon have indicated that their spending on this will remain high through 2024.
Previously, NVIDIA created a new architecture roughly every two years – for example, Ampere was introduced in 2020, Hopper in 2022, and Blackwell in 2024.
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