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Monday, October 2, 2023

Nvidia just made $6 billion in pure profit over the AI boom

By Sean Hollister, The Verge

 Roughly three months after joining Apple, Amazon, Google, and Microsoft among the world’s trillion-dollar companies — on the back of the AI boom — Nvidia is now making far more money than it’s ever made before.

The company raked in $13.5 billion in revenue since May, it revealed in its Q2 2024 earnings, with the unprecedented demand for its generative AI chips blowing past any difficulty it might have had selling desktop and laptop GPUs into a shrinking PC industry. Data center accounted for a record $10.32 billion of that revenue, more than doubling in just one quarter, and Nvidia made $6.188 billion in profit as a result — up 843 percent year over year. And while gaming is more than a billion dollars short of pandemic highs, it was actually up 22 percent year over year to $2.48 billion in revenue, too.

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