NVIDIA reported file earnings in its newest earnings report on August twenty third.
The semiconductor big revealed file income of $13.51 billion within the second quarter of 2023. This is a 101% enhance in comparison with a 12 months in the past and an 88% enhance in comparison with the earlier quarter.
Additionally, NVIDIA indicated that almost all of those revenues got here from knowledge heart class revenues. The class, which incorporates a lot of the corporate’s synthetic intelligence (AI) know-how, introduced in file income of $10.32 billion within the second quarter of 2023. This quantity is up 171% from a 12 months in the past and 141% from the earlier quarter.
The firm additionally highlighted its expanded deal with generative AI and accelerated computing. NVIDIA Founder and CEO Jensen Huang stated:
“A brand new period of computing has begun. Companies world wide are transferring from general-purpose computing to accelerated computing and generative AI. … NVIDIA GPUs … represent the computing infrastructure for generative AI.”
“The race to undertake generative AI is on,” Huang added, drawing consideration to the varied AI-centric developments and partnerships involving NVIDIA and its merchandise.
The firm went on to debate a number of just lately introduced chips with AI purposes and AI-related partnerships with corporations equivalent to VMWare, ServiceNow, Accenture, and SoftBank. It additionally highlighted its partnership with NVIDIA Avatar Cloud Engine, geared toward creating conversational online game characters, and MediaTek, partially associated to AI for automotive programs.
Cryptocurrency mining shall be placed on the again burner
NVIDIA beforehand gained consideration within the blockchain house for its involvement in cryptocurrency mining. In 2021, we launched a line of GPUs devoted to cryptocurrency mining referred to as Cryptocurrency Mining Processors (CMPs).
However, NVIDIA faces controversy over its crypto enterprise. When NVIDIA launched his CMP chips, the mining means of non-CMP chips was additionally restricted. And in 2022, the SEC fined NVIDIA for failing to reveal how mining affected its gaming enterprise. One NVIDIA government has been significantly important of cryptocurrencies, saying they add nothing to society. These controversies coincide with the minimal deal with cryptocurrencies nowadays.
In reality, NVIDIA’s newest report does not point out crypto mining in any respect. Past experiences counsel that gross sales of CMP chips are on the decline. In a May 2022 SEC submitting, the corporate stated CMP’s quarterly income was “nominal” and down from $155 million.