Nvidia's revenues for the fourth quarter reached $22.1 billion, surpassing analysts' expectations, and its stock rose nearly 15% in premarket trading following the announcement. The company anticipates revenues for the current quarter to be around $24 billion. Huang attributed this success to accelerated computing and generative AI reaching a tipping point.
Key takeaways:
- Nvidia's CEO, Jensen Huang, announced that the company's supply issues are improving, as revealed in its Q4 earnings call.
- Despite improvements in the supply chain, Nvidia expects demand to continue to outstrip supply due to the AI boom.
- Nvidia's revenues soared in the fourth quarter to $22.1 billion, beating analysts' estimates, and the company expects revenues for the current quarter to be about $24 billion.
- Huang stated that accelerated computing and generative AI have hit the tipping point, but warned that ramping up supply to meet demand cannot be achieved overnight.