Nvidia's stellar Q3 proves that the age of AI is in full steam

TL;DR: Nvidia has posted record revenue for the third quarter ending October 27, 2024, serving as further proof that the age of AI is in full steam. For the three-month period, Nvidia generated $35.1 billion in revenue. That is an increase of 17 percent compared to the previous quarter and a whopping 94 percent more than it brought in during the same period a year earlier.

Non-GAAP earnings per share were $0.81 – up 19 percent sequentially and 103 percent from a year ago. For reference, analysts were expecting $33.2 billion in revenue and EPS of $0.74.

The vast majority of Nvidia's earnings came from the data center division, which generated $30.8 billion. That's up 17 percent quarter over quarter and 112 percent compared to Q3 2023. Gaming revenue in the quarter was $3.3 billion – an increase of 14 percent versus last ...