NVIDIA is currently on cloud nine. The company is making an incredible amount of money, mainly thanks to the hype surrounding artificial intelligence. It has to be said that the company has been able to offer the right product at the right time, hence its success. What’s more, all this has helped it become the world’s biggest market capitalisation, currently worth $3.09 billion. Be that as it may, the latest results remain insane, with a net profit of $17 billion!
NVIDIA: $17 billion in profits!
Clearly, the company is in good health – excellent, in fact, since the figures for the second quarter of 2024 have improved. Sales were $30.04 billion, compared with $26.04 billion in the first quarter and $13.5 billion in Q2 2023. This represents quarter-on-quarter growth of 15% and year-on-year growth of 122%. The company more than doubled its revenues.
In terms of profits, the brand came out of the quarter with a tidy sum, reporting a net profit of almost $17 billion. By way of comparison, in Q1 the figure was $14.8 billion, compared with $6.2 billion in Q2 2023. This represents quarterly and annual increases of 12% and 168%!
The data centre and AI are still booming!
Despite these impressive figures, the company is still largely supported by the artificial intelligence market. In fact, the data centre business remains the most profitable for the company, generating $26.3 billion.
Despite this, the gaming and AI PC sector is also profitable, with revenues of $2.9 billion, representing an increase of 9% compared with Q1 2024 and 16% compared with Q2 2023.
Then we come to the sectors that are making money, but much less so, notably Professional Visualization, which generated sales of $454 million, up 20% on last year. As for robotics and automotive, sales in this sector were “only” $346 million (up 37% year-on-year and 5% on the previous quarter).
