NVIDIA Corporation (NVDA) Jumped on Booming Demand for AI Products
What is the performance expectation for NVIDIA's gaming market?
NVIDIA's gaming market is expected to remain healthy with ongoing growth potential. The company's gaming GPUs have been well-received, and its focus on the high-end market has supported growth in average selling prices. NVIDIA also sees opportunities to diversify its business and foray into new markets, such as automotive and robotics.
What revenue did NVIDIA report in Q1 2024?
NVIDIA reported a record revenue of $26 billion in Q1 2024, marking an 18% increase quarter over quarter and 262% year over year4. This performance was largely driven by strong demand for their NVIDIA Hopper GPU platform across data centers, cloud providers and enterprise customers.
What new markets is NVIDIA planning to enter?
NVIDIA is planning to enter new markets such as automotive and robotics. The company's expertise in AI and GPU technologies can be leveraged to expand into these industries, potentially tapping into new revenue streams and diversifying its customer base2.