About three months after becoming one of the world’s trillion-dollar companies, like Apple, Amazon, Google, and Microsoft, due to the AI boom, Nvidia is now earning much more money than it ever has before. Nvidia made a huge amount of money in its latest quarter ending in May. It earned $13.5 billion which is a lot of money. Most of the money came from selling computer chips used for AI.
Nvidia sold its AI chips to big companies that use computers a lot like Microsoft and Google. It sold $10.32 billion worth of chips just to these companies. This was more than double what it sold last quarter. Because of high sales, Nvidia earned a huge $6.188 billion in profit. Its profit grew over 800% compared to last year.
While sales of chips for gaming computers were down from pandemic times, gaming sales still grew 22% compared to last year. Nvidia believes gaming sales will keep growing as more people upgrade their gaming PCs. 20% of gamers now have a powerful Nvidia graphics card called RTX 3060 or better.
Nvidia expects to make even more money next quarter, forecasting $16 billion in sales. Most of the growth will come again from large companies buying AI chips for their data centers. Nvidia’s stock price rose 8.5% after announcing these great results, showing investors are happy.
