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US chipmaker Nvidia posts record quarterly, full-year revenues

Anadolu Agency ECONOMY
Published February 22,2024

US-based global chipmaker Nvidia posted record quarterly and full-year revenues with booming demand for artificial intelligence (AI), according to its financial results statement released late Wednesday.

The California-based company posted record revenue of $22.1 billion for the fourth quarter ended Jan. 28, 2024, up 265% from $6.05 billion in the same period of the previous year.

Total revenue for the full fiscal year of 2024 came in at a record high of $60.9 billion -- up 126% from almost $27 billion in the full fiscal year of 2023.

The company said it also saw record quarterly Data Center revenue of $18.4 billion, which soared 409% from the same period of the year before.

Full-year Data Center revenue, in addition, rose 217% during the same period to also reach a record level of $47.5 billion, said the statement.

Net income, meanwhile, soared a massive 769% to almost $12.3 billion the in fourth quarter ended January this year, from approximately $1.4 billion in the same period of last year.