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BUSINESS

NVIDIA records $6bn profit over AI boom

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Nvidia's record revenue

NVIDIA shattered records with Q2 2024 revenue of $13.5 billion and a staggering profit of $6.188 billion, marking an 843% YoY increase.

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Generative AI surge

This growth is driven by surging demand for generative AI chips, with the company projecting a $16 billion revenue next quarter.

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Data center growth

Despite a shrinking PC industry, AI chip demand has propelled NVIDIA to new heights, with data center revenue reaching an all-time high of $10.32 billion.

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H100 chip demand

The H100, NVIDIA's highest-end AI chip, is in massive demand among tech companies, and the firm plans to launch its next AI chip, the GH200, in mid-2024.

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Market leader predictions

With competitors Intel and AMD lagging behind, analysts predict NVIDIA will remain the market leader in AI chips.