Nvidia's 4Q revenue, profit soar thanks to demand for its chips used for artificial intelligence
Nvidia Corp. posted stronger-than-expected results for its latest quarter, more than tripling its revenue from a year earlier
By AP News
Published - Feb 21, 2024, 04:51 PM ET
Last Updated - Feb 21, 2024, 04:51 PM EST
SANTA CLARA, Calif. (AP) — Nvidia Corp., which has seen its value skyrocket over the past year thanks to soaring demand for its graphics chips used for artificial intelligence, posted stronger-than-expected results for the latest quarter, with its revenue more than tripling from a year earlier.
Nvidia’s revenue for its fiscal fourth quarter was $22.1 billion, up from $6.05 billion.
The company based in Santa Clara, California, earned $12.29 billion, compared to a profit of $1.41 billion a year ago.
The company's specialized chips are key components that help power different forms of artificial intelligence, including the latest generative AI chatbots such as ChatGPT and Google's Gemini.
