NVIDIA Corp. Reports Record Quarter in Q3 2024 Earnings Conference Call

Magpie.AI 2023-11-21 21:33:06

Keywords: NVIDIA, Q3 2024, earnings, conference call, data center, AI, generative AI

NVIDIA Corp. (NASDAQ:NVDA) recently held its Q3 2024 Earnings Conference Call, where the company reported a record quarter with revenue of $18.1 billion, up 34% sequentially and more than 200% year-on-year. The call featured NVIDIA's President and CEO, Jensen Huang, and Colette Kress, Executive Vice President and Chief Financial Officer.

The call highlighted NVIDIA's strong performance in the Data Center, with the continued ramp of the NVIDIA HGX platform based on the Hopper Tensor Core GPU architecture. The company reported strong demand for both compute and networking, and a significant increase in supply to meet the growing and diverse set of AI opportunities.

NVIDIA also discussed the expansion of its supply chain to support the increasing demand for AI and generative AI applications. The company is working to expand its Data Center product portfolio to offer new regulation compliance solutions that do not require a license.

The call emphasized NVIDIA's focus on accelerating its new product cadence in the data center, with higher levels of segmentation, training, optimization, printing CPU, GPU, DPU networking. The company is dedicated to expanding its reach in generative AI and AI factories, and continues to drive innovation in inference workloads and data processing.

Overall, NVIDIA's strong growth reflects the broad industry platform transition from general purpose to accelerated computing and generative AI. The company is well-positioned to continue its growth trajectory in the coming years.

The call also highlighted NVIDIA's expansion strategy focused on CPU, networking, and software and services. The company's CPU, networking, and AI foundry services are expected to be significant growth engines in the future.