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Nvidia records 206% Q3 revenue growth driven by AI and data centre

Nvidia has spent recent years establishing itself as a leader in the hardware market for AI acceleration. Those bets began paying off hugely with devices like the Nvidia H100 becoming hot sellers and the streak has not come to an end. Nvidia has now shared its Q3 earnings report, showing revenues have grown by a massive 206 percent compared to Q3 in the previous year. 

Over the course of Q3, Nvidia made a record $18.12 billion in revenue, a 34 percent gain compared to Q2 this year, and a 206 percent gain compared to the same time period in the previous year. Data Center revenues have been particularly strong, generating $14.51 billion in revenue, a 279 percent gain compared to Q3 last year and up 41 percent compared to Q2 this year.

On the gaming side, Nvidia has made some strides too, with revenues hitting $2.86 billion for the quarter, up 81 percent compared to Q3 last year and up 15 percent compared to Q2 this year.

As we move into Q4, Nvidia does not expect to slow down, anticipating revenues of $20 billion, plus or minus two percent. Nvidia's CEO, Jensen Huang, attributes Nvidia's growth to the AI boom, which is seeing platform holders across industries implementing their own AI solutions and moving more towards automation.

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KitGuru Says: While the tech industry struggled over the pandemic due to supply chains shutting down, Nvidia appears to have put those days well behind them at this stage with significant yearly growth across the board in 2023. 

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