NVIDIA's financial performance in the third quarter was nothing short of remarkable, with revenue soaring to $57 billion, marking a 62% year-on-year increase. Net income also witnessed a significant uptick, reaching $32 billion, a 65% surge from the previous year. Both figures comfortably surpassed Wall Street's expectations. The driving force behind this impressive growth was NVIDIA's data center business, which posted a record quarterly revenue of $51.2 billion. This expansion was fueled by a surge in computing demand, among other factors. Notably, AI projects unveiled during the quarter necessitated a staggering cumulative total of 5 million GPUs. The 'Blackwell Ultra' model stood out, delivering exceptional performance and setting new sales records. Nevertheless, the data center GPU product H20, tailored for generative AI and high-performance computing applications, encountered a setback. Due to restrictions preventing its sale in China, shipments amounted to a mere $50 million, falling well short of projections. Looking ahead, NVIDIA forecasts fourth-quarter revenue to hit $65 billion, a projection that propelled its stock price up by over 4% in after-hours trading. CEO Jensen Huang remains bullish, asserting that growth continues to be the prevailing narrative.
