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Nvidia Outperforms In Earnings With Data Centers In The First Quarter Of 2024
By Shubhendra Anand , 07 August, 2024
Data centers will be gradually shaping their position in the industry in 2024. This is due to the increasing use of cloud storage on large scales. Banking, information technology (IT) industries, and other companies rely heavily on cloud storage. Hence, establishing an increasing number of data centers in the market is necessary. Nvidia is the leading company in the advanced chips production sector. Based on a survey, Nvidia performs promisingly in the first quarter of 2024. This survey shows that the company gained around USD 22 billion between November 2023 and January 2024. Hence, analysts project Nvidia's performance to have outperformed the market's expectations in 2024.
According to the experts' analysis in 2024, Nvidia's earnings have outperformed their expectations. The chipmaker company has yielded up to USD 26 billion and USD 15 billion from November 2203 to January 2024. Analysts expect that Nvidia will perform better by the beginning of 2024. data centers are gaining momentum with the growing usage of artificial intelligence in 2024. The chips in the data centers must be highly built for the artificial intelligence industries. However, Nvidia master’s has procured the chip-making sector in 2024. Survey data shows that in February and April of 2024, USD 22.6 billion of Nvidia's earnings were from data centers. Hence, it shows that the growth of data centers affects Nvidia's earnings, too.
In its first quarter, Nvidia reportedly earned 18 percent more compared to the last quarter of 2023. Experts claim that other industrial applications of Nvidia's chips are in the automotive, gaming, and other industries. However, using Nvidia's chips in data centers will dominate the computing market in 2024.
Nvidia Market Share With Data Centers In 2024
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Shubhendra Anand
Head Research
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