"I was more than delighted to secure our future growth with cash."įor the reported third quarter, revenue in Nvidia's gaming unit rose 42% to $3.22 billion and data centers surged 55% to $2.94 billion.Īnalysts had expected $3.13 billion and $2.75 billion for gaming and data centers, respectively, according to FactSet. Nvidia has a lot of cash, and we generate a lot of cash," Huang told Reuters. "When it came up, I jumped on the opportunity. The company made a $1.6 billion payment in the third quarter alone to secure supply. It said Wednesday that outstanding inventory purchases and long-term supply obligations were $6.90 billion, up from $2.57 billion a year earlier. The company has so far avoided major supply chain problems despite a global chip crunch, but supply chain costs are rising. The company's shares were up nearly 4% in extended trading, after more than doubling this year. Nvidia expects current-quarter revenue of $7.40 billion, plus or minus 2%, above analysts' average estimate of $6.86 billion, according to IBES data from Refinitiv. And the reason for that is they are easier to build," Huang told Reuters in an interview. "There will probably be more virtual worlds than there are websites today. The company believes about half its revenue from Omniverse will come from chips and half from software. Nvidia Chief Executive 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.
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February 2023
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