AI drives Nvidia’s soaring sales

Nvidia had Q1 revenues of $1.94 billion – up 48% y-o-y.

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Q1 operating profit was $554 million, up 126% y-o-y.

GPUs accounted for $1.56 billion of revenues.

Gross margin increased 1.9% y-o-y to 59.4%.

Gaming revenue rose 49% y-o-y to $1.027 billion, datacentre revenues neatly tripled y-o-y to $409 million and auto sales were $140 million.

“One industry after another is awakening to the power of GPU deep learning and AI, the most important technology force of our time,” said Nvidia CEO Jen-Hsun Huang.

For Q2 Nvidia expects revenues of $1.95 plus or minus 2% and a gross margin of 58.4%.


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