Nvidia’s Income Drops Additional, However Demand for Ada GPUs Exceeds Provide

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Nvidia on Wednesday posted outcomes for the third quarter of its fiscal yr 2023 as its newest merchandise based mostly on the Ada Lovelace and Hopper architectures started their ramp-up. As anticipated, gross sales of the corporate’s gaming {and professional} graphics options dropped quarter-over-quarter and year-over-year. Nonetheless, on the similar time, the corporate offered a boatload of information middle merchandise, together with the most recent H100 compute GPUs. Moreover, demand for the most recent GeForce RTX 40-series is so excessive that Nvidia couldn’t meet demand.

“Our new Ada Lovelace GPU structure had an distinctive launch,” stated Colette Kress, Nvidia’s chief monetary officer. “The primary Ada GPU, the GeForce RTX 4090 grew to become obtainable in mid-October at an incredible demand and constructive suggestions from the gaming group. We offered out shortly in lots of places and are working exhausting to maintain up with demand.”

Nvidia’s income for Q3 FY2023 dropped to $5.93 billion, down 12% sequentially and 17% year-over-year. As the corporate’s gross margins declined to 53.6%, down from round 65% within the current quarters (however up from 43.5% in Q2 FY2023), its internet revenue fell to $680 million, up 4% quarter-over-quarter (QoQ), however down a whopping 72% from the identical quarter a yr in the past.

(Picture credit score: Nvidia)

Shopper GPUs Are Down

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