Nvidia blew everyone away again in its latest quarterly report. Thanks to insatiable demand for GPUs, Nvidia is reporting better numbers quarter after quarter.

GPU specialist Nvidia announced financial results for the final quarter of 2023 last night. First, make sure you’re in the right place because there are billions being thrown around. Sales rose by a spectacular 265 percent to $22.1 billion. The profit figures are even more impressive: In just one year, Nvidia recorded an increase of 769(!) percent, from $1.4 billion to $12.3 billion.

There is a logical explanation for Nvidia’s success. Everyone wants generative AI and needs Nvidia’s GPUs for it. As a result, Nvidia’s inventory often sells out before the chips come off the production line, and Nvidia makes a profit of tens of thousands of euros per GPU sold. The company itself attributes its spectacular quarterly figures to its “Hopper” GPUs.

The department responsible for this, the Data Center segment, reported a 409 percent increase in sales to $18.4 billion. This means that more than eighty percent of the total quarterly sales can be attributed to one industry. Until a year ago, the gaming department was still Nvidia’s cash cow, but it is now worth “only” $2.87 billion.

Worth more than Google

Due to its unprecedented financial success, Nvidia is popular on the stock market. No company has made a more spectacular leap onto the stock market in just one year. The company’s total market value has surpassed that of big names like Amazon and Google parent Alphabet. Nvidia is now the fourth most valuable company in the world, but Jensen Huang’s ambitions have not yet been calmed down. The company expects to increase its revenue to $24 billion this quarter.