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NVIDIA (NVDA) Earnings Release

NVIDIA (NVDA) today reported revenue for the fourth quarter ended January 29, 2023. Watch here for earnings summary:

“AI is at an inflection point, setting up for broad adoption reaching into every industry,” said Jensen Huang, founder and CEO of NVIDIA. 

“From startups to major enterprises, we are seeing accelerated interest in the versatility and capabilities of generative AI.

“We are set to help customers take advantage of breakthroughs in generative AI and large language models. 

Our new AI supercomputer, with H100 and its Transformer Engine and Quantum-2 networking fabric, is in full production.

“Gaming is recovering from the post-pandemic downturn, with gamers enthusiastically embracing the new Ada architecture GPUs with AI neural rendering,” he said.    

NVIDIA AI Cloud Service Offerings

NVIDIA is partnering with leading cloud service providers to offer AI-as-a-service that provides enterprises access to NVIDIA’s world-leading AI platform.

Customers will be able to engage each layer of NVIDIA AI – the AI supercomputer, acceleration libraries software or pretrained generative AI models – as a cloud service.

NVIDIA’s outlook for the first quarter of fiscal 2024 is as follows:

Revenue is expected to be $6.50 billion, plus or minus 2%.

GAAP and non-GAAP gross margins are expected to be 64.1% and 66.5%, respectively, plus or minus 50 basis points.

GAAP and non-GAAP operating expenses are expected to be approximately $2.53 billion and $1.78 billion, respectively.

GAAP and non-GAAP other income and expense are expected to be an income of approximately $50 million, excluding gains and losses from non affiliated investments.

GAAP and non-GAAP tax rates are expected to be 13.0%, plus or minus 1%, excluding any discrete items.

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