Nvidia’s record-breaking Q3 revenue fueled by generative AI hardware sales surge

Nvidia reported record Q3 revenues of $18.12 billion, attributing the growth primarily to sales of generative AI hardware. The company’s market capitalization now stands at $1.22 trillion. Nvidia CEO Jensen Huang emphasized that AI startups, consumer Internet companies, and cloud service providers were the primary drivers of this growth. The company’s data center division, which focuses on compute and networking, was the main contributor to Nvidia’s significant growth, with Q3 revenue reaching $14.51 billion, a 3.78x increase year-over-year.

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