Nvidia Reports Record Revenue as AI Demand Surges

The chipmaker posted $130.5 billion in annual revenue, driven by its dominance in AI processors and strong demand for its new Blackwell chips.

Nvidia achieved a record $130.5 billion in revenue for fiscal year 2024, including $39.3 billion in the fourth quarter alone, surpassing analyst expectations.
The company's net profit for the year reached $72.9 billion, with a 78% year-over-year revenue increase in the fourth quarter.
Demand for Nvidia's new Blackwell chips, designed for AI applications, has been described as extraordinary, contributing $11 billion in revenue shortly after their launch.
Concerns about competition from China's Deepseek AI, which uses less advanced Nvidia chips, initially impacted Nvidia’s market value but were later offset by a broader AI-driven market expansion.
Nvidia forecasts continued growth, projecting $43 billion in revenue for the next quarter, though potential restrictions on chip exports to China remain a concern for investors.