Nvidia looks to top $120bn in a bumper 2024
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Nvidia is predicting revenues of $128.5bn in 2024 after a bumper third quarter. This is more than double the $60.9bn in the previous year and $26.9bn in 2022. Operating expenses stayed constant around $12bn across all three years.
The company saw record quarterly revenue of $35.1 billion, up 17% from Q2 and up 94% from a year ago, largely as a result of the boom in data centre AI (at $30.8bn) and demand for its Grace, Hopper and Blackwell chips.
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The revenue for the year is more than the entire data centre AI market predicted by Futurum Intelligence
“The age of AI is in full steam, propelling a global shift to Nvidia computing,” said Jensen Huang, founder and CEO of Nvidia. “Demand for Hopper and anticipation for Blackwell — in full production — are incredible as foundation model makers scale pretraining, post-training and inference.”
“AI is transforming every industry, company and country. Enterprises are adopting agentic AI to revolutionize workflows. Industrial robotics investments are surging with breakthroughs in physical AI. And countries have awakened to the importance of developing their national AI and infrastructure,” he said.
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