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NVIDIA revenues soar - has AI reached a tipping point?

Geoff Riley

22nd February 2024

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AI has hit the tipping point according to the Boss of NVIDIA which dominates the market for AI chips. Profits are up 769% on the year before. The company has reported revenue of over $21 billion in the last three months. Soaring demand for their chips has propelled their share price to such an extent that NVIDIA has overtaken Google to become the world's 3rd most valuable tech company measured by market capitalisation.

NVIDIA revenues soar - has AI reached a tipping point?

“If you want to be successful, I would encourage you to grow a tolerance for failure.”

~ Nvidia CEO Jensen Huangpic.twitter.com/itiaZGLcT3
— Jon Erlichman (@JonErlichman) February 21, 2024

Nvidia declares AI ‘tipping point’ as quarterly revenues jump 265% https://t.co/tuKN8ynq0A
— Financial Times (@FT) February 21, 2024

Nvidia’s annual revenue:

2024: $60.9 billion
2023: $26.9 billion
2022: $26.9 billion
2021: $16.7 billion
2020: $10.9 billion
2019: $11.7 billion
2018: $9.7 billion
2017: $6.9 billion
2016: $5.0 billion
2015: $4.6 billion
2014: $4.1 billion
2013: $4.3 billion
2012: $3.9 billion
— Jon Erlichman (@JonErlichman) February 21, 2024

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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NVIDIA revenues soar - has AI reached a tipping point?

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