NVIDIA reports record $13B revenue in Q2 2023 as AI tech industry booms
Aug. 23, 2023
By Mike Dalton
The company made no mention of its crypto mining chips in this quarter's repprt,
NVIDIA reported record revenue in its latest earnings report on Aug. 23.
The chip giant revealed that it brought in a record-breaking $13.51 billion in revenue in Q2 2023, up 101% from one year ago and up 88% from last quarter.
Furthermore, NVIDIA suggested that the majority of those earnings were due to revenue in its data center category. That category, which includes many of its artificial intelligence (AI) technologies, brought in a record $10.32 billion in revenue over Q2 2023. That number is up 171% from one year ago and up 141% from the last quarter.
The company also emphasized its growing focus on generative AI and accelerated computing. Jensen Huang, founder and CEO of NVIDIA, said:
“A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI. … NVIDIA GPUs … make up the computing infrastructure of generative AI.”
Huang added that “the race is on to adopt generative AI,” drawing attention to various AI-focused developments and partnerships involving NVIDIA and its products.
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