Gaming, data center businesses booming even as chipmaker shifts tone on Arm deal
Nvidia reported Wednesday afternoon that itsrevenue surged 68% year over year to $6.5 billion. That is a new quarterly record for the chipmaker, even as its growth rate slowed from the 84% reported in the prior quarter that ended in April.
Revenue in the company’s key videogaming and data center businesses grew by 85% and 35% year over year, respectively, though both also decelerated a bit from the previous quarter. In other words, Nvidia is its own toughest competitor. The same holds true for its stock, which rose less than 3% following the results after having run up 36% over the last three months. At 47 times forward earnings, Nvidia is one of the most expensive chip companies on the market. It has also earned its premium, having tripled revenue while doubling adjusted operating margins in the last five years.
Still, there are questions about where the company is going and how exactly it will parlay its newfound might.
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