Nvidia sees growth in Q4 with record earnings
Nvidia reports increased revenues of over three billion dollars due to accelerated demand for data center GPUs and gaming systems
Nvidia has bounced back in revenue for it's fiscal quarter of 2020 (4FQ2020) where it earned $3.11 billion. That's 41% year on year growth as compared to 2019.
Jensen Huang, CEO of Nvidia, noted the financials as a result of emerging technologies such as its AI, RTX gaming segments as well as its new industry segment in self driving cars and autonomous technologies.
“Adoption of NVIDIA accelerated computing drove excellent results, with record data center revenue,” said Jensen Huang, founder and CEO of NVIDIA. “Our initiatives are achieving great success and we are well positioned for the greatest technology trends of our time,” he said.
“NVIDIA RTX ray tracing is reinventing computer graphics, driving powerful adoption across gaming, VR and design markets, while opening new opportunities in rendering and cloud gaming. NVIDIA AI is enabling breakthroughs in language understanding, conversational AI and recommendation engines the core algorithms that power the internet today. And new NVIDIA computing applications in 5G, genomics, robotics and autonomous vehicles enable us to continue important work that has great impact.
Nvidia however noted that revenues for the upcoming quarters could be affected due to the Corvid-19 virus outbreaks that have seen many technology companies slow down production and distribution.