Nvidia said Grace superchips are being used to create HGX systems by some of the world’s leading computer makers - including Atos, Dell Technologies, Gigabyte, HPE, Inspur, Lenovo and Supermicro. Second-quarter revenue was $3.81 billion, up 61% from a year ago and up 1% from the previous quarter. GAAP and non-GAAP gross margins are expected to be 62.4% and 65.0%, respectively, plus or minus 50 basis points. The company expects that decline to be partially offset by sequential growth in data center and automotive. Gaming and professional visualization revenue are expected to decline sequentially, as computer makers and channel partners reduce inventory levels to meet current levels of demand and to prepare for Nvidia’s next generation of chips. Nvidia said it expects revenue for the third fiscal quarter, which ends on October 31, to be $5.9 billion. Nvidia plans to continue share repurchases this fiscal year. The company has $11.93 billion remaining under its share repurchase authorization through December 2023. He added, “I look forward to next month’s GTC conference, where we will share new advances in RTX, as well as breakthroughs in AI and the metaverse, the next evolution of the internet. Join us.”ĭuring the second quarter of fiscal 2023, Nvidia returned to shareholders $3.44 billion in share repurchases and cash dividends, following a return of $2.10 billion in the first quarter. Advances in AI are driving our data center business while accelerating breakthroughs in fields from drug discovery to climate science to robotics.” Automotive is becoming a tech industry and is on track to be our next billion-dollar business. “Accelerated computing and AI, the pioneering work of our company, are transforming industries. “We are navigating our supply chain transitions in a challenging macro environment and we will get through this,” said Jensen Huang, founder and CEO of Nvidia, in a statement. Non-GAAP earnings per diluted share were 51 cents, down 51% from a year ago and down 63% from the previous quarter. GAAP earnings per diluted share for the quarter were 26 cents down 72% from a year ago and down 59% from the previous quarter. The company said it is unable to determine what impact slipping demand for crypto mining had on the lower revenues. Nvidia saw softness due to the war in Ukraine and a slowdown in China, with macroeconomic slowdowns around the world affecting consumer demand in a negative way. Nvidia released its preliminary earnings on August 8, when it warned investors that the company was going to miss on its own expectations for the quarter as gaming sales weakened. Learn how to build, scale, and govern low-code programs in a straightforward way that creates success for all this November 9.
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