Nvidia projects nearly $10 billion in quarterly revenue

Technology firm Nvidia has issued a forecast predicting it will achieve $10.8 billion in revenue in the upcoming fiscal quarter. This projection signifies substantial growth compared to its recent financial performance.

According to Nvidia's latest earnings report, the company's revenue for the preceding quarter reached a record $9.62 billion. This figure represents an increase of over $10 billion from the quarter before. The data center segment, in particular, saw significant expansion, with revenue more than doubling year-over-year to $8.9 billion. The company's profits also more than doubled, reaching $5.97 billion.

Should the projection hold true, Nvidia will be nearing the $100 billion revenue mark on a quarterly basis. While a considerable sum, it is not unprecedented among major technology companies. Amazon, Apple, and Alphabet have previously surpassed $100 billion in quarterly revenue.

Nvidia's growth has been significantly fueled by its data center solutions that support artificial intelligence and computing services. The company's "edge computing" category, which also includes consumer gaming hardware, forms part of its strategic development.