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NVIDIA Shares Its Fourth Quarter And Fiscal 2023 Financial Results

NVIDIA also highlights the growth of artificial intelligence and how it intends to expand its own AI offerings

NVIDIA has shared its financial results for the fourth quarter and fiscal 2023. It shows that the company’s quarterly revenue of $6.05 billion is down 21% from a year ago, with a 2% increase on the previous quarter.

GAAP earnings per diluted share for the quarter were $0.57, down 52% from a year ago but up 111% from the previous quarter. For fiscal 2023 revenue was sitting at $26.97 billion. GAAP earnings per diluted share were $1.74, down 55% from a year ago. As for non-GAAP earnings per diluted share, these were $3.34, down from 25% a year ago.

Founder and CEO of NVIDIA, Jensen Huang said, “Gaming is recovering from the post-pandemic downturn, with gamers enthusiastically embracing the new Ada architecture GPUs with AI neural rendering.”


Artificial Intelligence is currently something many big companies are discussing and looking to incorporate deeper into their ecosystems. Giants like Microsoft are already well underway with AI implementation into its search engine Bing and productivity apps. So it’s no surprise that NVIDIA is also looking toward AI.

Huang commented on AI stating, “AI is at an inflection point, setting up for broad adoption reaching into every industry. 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.”

NVIDIA is partnering with cloud service providers to offer AI-as-a-service that can provide enterprises access to NVIDIA’S AI platform. Customers will be able to use their browser to engage the NVIDIA DGX AI supercomputer through the NVIDIA DGX Cloud, which is offered on the Oracle Cloud Infrastructure and others. The AI platform software layer will allow access to NVIDIA AI Enterprise for training and deploying language models or other AI workloads. The AI-model-as-a-service layer will offer its NeMo and BioNeMo customisable AI models to enterprise customers who want to build proprietary generative AI models and services for business.

Highlights and future outlook

NVIDIA claims it has seen progress in various areas since its previous earnings announcement, such as its partnership with Deutsche Bank to extend the use of AI in the financial services sector. The report also noted that the GeForce RTX 40 series for laptops is the company’s largest-ever generational leap in performance and power efficiency.

Regarding gaming, it’s 10-year agreement with Microsoft to bring the Xbox PC game lineup to GeForce NOW mentioned. The report also noted that if Microsoft is to close the Activision acquisition, GeForce NOW would add titles such as Call of Duty and Overwatch to its lineup. 

NVIDIA also shared its outlook for the first quarter of fiscal 2024, stating that revenue may be at $6.50 billion, plus or minus 2%. GAAP and non-GAAP gross margins are expected to be 64.1% and 65.5%, respectively, plus or minus 50 basis points.

Written By

Paige Cook is a writer with a multi-media background. She has experience covering video games and technology and also has freelance experience in video editing, graphic design, and photography. Paige is a massive fan of the movie industry and loves a good TV show, if she is not watching something interesting then she's probably playing video games or buried in a good book. Her latest addiction is virtual photography and currently spends far too much time taking pretty pictures in games rather than actually finishing them.

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