Gaming Drives Nvidia To Record Highs
Chipmaker Nvidia has posted record results for the August quarter, with revenues hitting all-time highs thanks to its Gaming, Data Center, and Professional Visualisation divisions.
Nvidia raked in $6.51 billion USD ($9 billion AUD) over the three months to August, up 68 per cent year-on-year and 15 per cent on the previous quarter. Gaming made up almost half of this revenue, bringing in $3.06 billion USD ($4.23 billion AUD), up 85 per cent year-on-year. Net profit at the company was $2.37 billion USD ($3.29 billion AUD), up a staggering 282 per cent year-on-year.
The booming Gaming revenue was aided by Nvidia’s introduction of its GeForce GTX 3070 Ti and 3080 Ti graphics cards, which it says deliver up to 50 per cent increased performance over the previous generation.
The company has struggled with the global chip shortage, however, with outsourced foundries unable to keep pace with semiconductor demand; it has also experienced headwinds in its $40 billion USD bid to take over Arm, with the UK government considering blocking the deal.