NVIDIA
Yesterday, NVIDIA said first quarter revenue will exceed the $ 5.30 billion previously forecast, thanks in part to strong demand for its data center, gaming and cryptocurrency mining GPUs. Unfortunately for consumers, according to company data, demand will continue to outstrip supply for the rest of the year.Colette Kress, executive vice president and chief financial officer of NVIDIA, said:
While our fiscal first quarter of 2022 is not yet complete, total revenue exceeded the $ 5.30 billion forecast given at our end-2020 earnings meeting. reputation in the data center field and we expect another very strong year from that point of view. Industries are increasingly using AI to improve their products and services, and we expect this to lead to increased use of our wall platform by major cloud service providers, resulting in increased purchases over the next few months.
Sales of NVIDIA's GeForce RTX GPUs are also on the rise due to more people left at home as a result of the pandemic. In addition, modern graphics cards cost much more than they were several years ago, which is why revenues are increasing even in the face of a decrease in sales volumes. NVIDIA's data center solutions today include not only compute cards or modules sold at huge margins, but also complete machines for AI and HPC workloads. Therefore, average selling prices are also increasing on this front.
The company also started selling its cryptocurrency mining CMP cards this quarter, and as this is a pretty big phenomenon, the demand for these products has exceeded expectations by three times. Initially, NVIDIA expected to raise $ 50 million by selling these GPUs in the first quarter of fiscal year 2022, but now it expects to reach as high as $ 150 million. Although sales are higher than expected, the company says they could have been even higher if demand could have been fully met.
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3 Reasons to Buy NVIDIA After Its Investor Presentation
In today's video, I look at my favorite things from NVIDIA's Investor Day presentation. The presentation showed various new projects and products for the company, which drove the stock price up over 5%.
Here are three reasons to watch NVIDIA (NASDAQ:NVDA) after its presentation:
Click the video below for my full thoughts.
*Stock Prices used were the Mid-Day prices of April 12, 2021. The video was published on April 12, 2021.
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