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Saturday, May 18, 2024

Nvidia Reports Record $3.42B In Gaming Revenue

Nvidia
Nvidia/Design: Alex Brooks

Chip manufacturer Nvidia’s fourth-quarter revenue jumped 53% year-over-year to $7.65 billion, totaling $26.91 billion for the year.

The company’s gaming division reported record revenue for the quarter, a 37% year-over-year increase to $3.42 billion. Its fiscal gaming revenue ballooned 61% to $12.46 billion.

During the quarter, Nvidia made a number of investments in its gaming sector. 

  • The company launched desktop and laptop GPUs.
  • It announced more than 160 gaming and Studio GeForce-based laptop designs. GeForce NOW is Nvidia’s cloud-based game streaming service.
  • Nvidia unveiled more than 30 new RTX games and titles shipped in the quarter, including “COD: Vanguard” and “God of War,” and added more than 65 games to its GeForce NOW library.

The chipmaker also announced collaborations with Samsung and AT&T, offering GeForce Now to the technology companies’ customers.

Nvidia’s data center and professional visualization divisions reached record revenue at $3.26 billion and $643 million — up 71% and 109% from the same period last year.

Failed Arm Acquisition

In 2020, Nvidia agreed to buy Softbank’s chip technology company Arm, which creates chips for the Nintendo Switch and other gaming devices, at a $40 billion valuation. Softbank called off the plans earlier this month following regulatory scrutiny in multiple countries — the Federal Trade Commission sued to block the deal. 

Softbank purchased Arm in 2016 for $32 billion.

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