23 May 2024
If you are covering Nividia’s latest results, please find a comment below from Ben Barringer, technology analyst at Quilter Cheviot:
“Nvidia has once again cleared a very high hurdle with its latest financial results. Revenue is up a remarkable 262% from a year ago and shows no sign of slowing down. Much of the growth came from data centres with it continuing to take advantage of the rise in artificial intelligence and the computing capacity corporations will need to run such systems.
“This demand is showing no signs of switching off either. It has started production on its new Blackwell product, with the pipeline for product development and releases for the year ahead looking strong. There is also demand across sectors with both large corporates and governments requiring Nvidia’s products and services. Nvidia is a big beneficiary of the rise in capital expenditure of cloud companies (Microsoft, Amazon, Google, Meta), growing it from 18% growth to 40% this year. The company is primed for yet more growth to come through to 2025.
“We are getting to the point where the market will always question whether this is the quarter that Nvidia will fall short on expectations, but the company is in such a sweet spot that it will continue to confound. This won’t be the last beat given the demand it has and the new products coming to market.”
