Nvidia Corporation said its revenue increased 50 percent to $7.10 billion – thanks to rise of 47 percent in Graphics and 55 percent in Compute & Networking business for the third quarter of 2021.
Nvidia has achieved record quarterly revenue in Gaming, Data Center, and Professional Visualization business divisions.
Gaming revenue of $3.221 billion was up 42 percent from a year ago and up 5 percent sequentially, reflecting higher sales of GeForce GPUs. NVIDIA benefited from demand for NVIDIA Ampere architecture products leading into the holiday season. Nearly all desktop Ampere architecture GeForce GPU shipments are Lite Hash Rate in its effort to direct GeForce to gamers.
Nvidia said Data Center revenue of $2,936 billion was up 55 percent from a year ago and up 24 percent sequentially, driven by sales of NVIDIA Ampere architecture products to hyperscale customers for cloud computing and workloads such as natural language processing and deep recommender models, as well as to vertical industries.
Professional Visualization revenue of $577 million was up 144 percent from a year earlier and up 11 percent sequentially, driven by Nvidia Ampere architecture products, with growth in desktop and notebook workstation GPUs as enterprises deploy systems to support hybrid work environments, Nvidia said.
Nvidia said Automotive revenue of $135 million was up 8 percent from a year earlier and down 11 percent sequentially. The year-on-year growth was due to the ramp of self-driving programs, while the sequential decline was related to automotive makers’ supply constraints.
OEM and other revenue of $234 million was up 21 percent from a year ago and down 43 percent sequentially. The year-on-year growth reflects Cryptocurrency Mining Processor (CMP) revenue of $105 million in this quarter. The sequential decline primarily reflects lower CMP revenue.
Nvidia said tevenue is expected to be $7.40 billion for the fourth quarter of fiscal 2022, betting on growth in its data center business as more internet companies set out to invest in artificial intelligence and the metaverse.
The online realm that uses augmented and virtual reality to help users interact has captured more attention after Facebook, now renamed Meta, said it would boost capital expenditure and shift focus from its social media business.
The move will be a big boost for Nvidia, the world’s biggest maker of graphics and AI chips, as metaverse applications would need more computing power and drive demand for chips.
Nvidia last month released Omniverse Enterprise, a set of software tools that will allow companies to collaborate in building virtual worlds, the computing power for which comes from Nvidia’s chips, Reuters reported.
Nvidia CEO Jensen Huang said he believes Nvidia could eventually fetch up to $1,000 a year from up to 40 million virtual world creators and designers. The company believes about half its revenue from Omniverse will come from chips and half from software.