Nvidia reports Q1 revenue increase from AI boom. Q1’s revenue increases 18% from the previous quarter and Q1’s revenue increases 262% from last year

On May 22, 2024, Nvidia reported first quarter’s revenue of $26.0 billion, up 18% from Q4 and up 262% from a year ago.

Quarterly Data Center revenue of $22.6 billion, up 23% from Q4 and up 427% from a year ago.

1. Data Center’s revenue up 427% from a year ago.

2. Gaming and AI PU’s revenue up 18% from a year ago.

3. Professional visualization’s revenue up 45% from a year ago.

4. Automotive and Robotics’s revenue up 11% from a year ago.

Data center and cloud computing is the fastest growing business of Nvidia

Gaming and AI PC

• First-quarter Gaming revenue was $2.6 billion, down 8% from the previous quarter and up 18% from a year ago. 

• Introduced new AI gaming technologies at GDC for NVIDIA ACE and Neural Graphics.

• Unveiled new AI performance optimizations and integrations for Windows to deliver maximum performance on NVIDIA GeForce RTX AI PCs and workstations.

• Announced more blockbuster games that will incorporate RTX technology, including Star Wars Outlaws and Black Myth Wukong.

• Added support for new models, including Google’s Gemma, for ChatRTX, which brings chatbot capabilities to RTX-powered Windows PCs and workstations.

Data Center

• First-quarter revenue was a record $22.6 billion, up 23% from the previous quarter and up 427% from a year ago.

• Unveiled the NVIDIA Blackwell platform to fuel a new era of AI computing at trillion-parameter scale and the Blackwell-powered DGX SuperPOD™ for generative AI supercomputing.

• Announced NVIDIA Quantum and NVIDIA Spectrum™ X800 series switches for InfiniBand and Ethernet, respectively, optimized for trillion-parameter GPU computing and AI infrastructure.

• Launched NVIDIA AI Enterprise 5.0 with NVIDIA NIM inference microservices to speed enterprise app development.

• Announced TSMC and Synopsys are going into production with NVIDIA cuLitho to accelerate computational lithography, the semiconductor manufacturing industry’s most compute-intensive workload.

• Announced that nine new supercomputers worldwide are using Grace Hopper Superchips to ignite new era of AI supercomputing.

• Unveiled that Grace Hopper Superchips power the top three machines on the Green500 list of the world’s most energy-efficient supercomputers.

• Expanded collaborations with AWS, Google Cloud, Microsoft and Oracle to advance generative AI innovation.

• Worked with Johnson & Johnson MedTech to bring AI capabilities to support surgery.

Professional Visualization

• First-quarter revenue was $427 million, down 8% from the previous quarter and up 45% from a year ago.

• Introduced NVIDIA RTX™ 500 and 1000 professional Ada generation laptop GPUs for AI-enhanced workflows.

• Unveiled NVIDIA RTX A400 and A1000 GPUs for desktop workstations, based on the NVIDIA Ampere architecture, to bring AI to design and productivity workflows.

• Introduced NVIDIA Omniverse™ Cloud APIs to power industrial digital twin software tools, including an expanded Siemens partnership, and a new framework for the Apple Vision Pro.

• Announced the adoption of the new Earth-2 cloud APIs by The Weather Company and the Central Weather Administration of Taiwan for high-resolution global climate simulations.

Automotive and Robotics

• First-quarter Automotive revenue was $329 million, up 17% from the previous quarter and up 11% from a year ago.

• Announced BYD, XPENG, GAC’s AION Hyper, Nuro and others have chosen the next-generation NVIDIA DRIVE Thor™ platform, which now features Blackwell GPU architecture, to power their next-generation consumer and commercial electric vehicle fleets.

• Revealed U.S. and China electric vehicle makers Lucid and IM Motors are using the NVIDIA DRIVE Orin™ platform for vehicle models targeting the European market.

• Announced an array of partners are using NVIDIA generative AI technologies to transform in-vehicle experiences.

• Introduced the Project GR00T foundation model for humanoid robots and major Isaac robotics platform updates.
  
  

Cloud computing business overall are thriving. Many cloud providers have seen their revenue increase including Amazon, Microsoft, Google, Oracle, and Digital Ocean.