Posted 2/22/2024, 12:46:35 AM
Nvidia Soars on Record $22B Revenue as AI and Cloud Computing Drive Growth
- Nvidia reported $22.1 billion in revenue for Q4 2024, a 265% increase over the previous year and exceeding expectations
- CEO Jensen Huang said accelerated computing and AI have reached a "tipping point" with surging worldwide demand
- Other AI and tech stocks like Google, Microsoft, AMD rose on the positive earnings news
- Nvidia's data center revenue soared 409% annually to $18.4 billion, boosted by AI and cloud computing
- Gaming revenue grew 15% to $10.4 billion annually amid strong demand for Nvidia's GeForce RTX 40 GPUs and avatar/AI gaming tech