Nvidia reported third-quarter revenue of $35.1 billion, up 94% year over year, with data center revenue reaching $30.8 billion. Tech companies had mixed results, with Snowflake posting a 29% increase in revenue to $900 million, while artificial intelligence (AI) startup BEN reported its first significant quarterly revenue of $5.5 billion amid widening losses. It recorded a million dollars.
AI surge drives Nvidia to $35.1 billion
Nvidia reported 3rd quarter earnings $35.1 billion, up 94AI computing is driving unprecedented demand for chips, up % year over year and 17% sequentially.
Sales at the Santa Clara, Calif., semiconductor maker’s data center division reached $30.8 billion, up 112% from a year ago and 17% from the previous quarter. This division currently accounts for 88% of total revenue.
“The age of AI is in full swing, driving the global transition to Nvidia computing,” CEO Jensen Huang said in the article. earnings release. “The demand for Hopper and the anticipation for Blackwell, which is in full production, is incredible.”
Net income increased 109% to $19.3 billion, and earnings per share were $0.78, an increase of 111% year over year. The company forecast fourth-quarter sales of $37.5 billion, an increase of 2%.
15% increase in gaming revenue YoY comparison Automotive sales reached $449 million, an increase of 72% from the previous year.
This result strengthens Nvidia’s lead in AI computing hardware as companies expand their AI infrastructure globally.
Snowflake grows as cloud adoption expands
Snowflake advertises itself as an “AI data cloud company.” reported Third quarter product revenue was $900 million, up 29% year over year, but growth is expected to slow first.
“Our relentless focus on creating product cohesiveness and ease of use has made Snowflake the easiest and most cost-effective enterprise data platform,” said CEO Sridhar Ramaswamy. news release.
The company’s remaining performance obligations, representing future contracted revenue, increased 55% to $5.7 billion. Snowflake has expanded its large customer base and now serves 542 organizations, with 12-month product revenue of more than $1 million, up 25% year-over-year.
In September, Snowflake raised $2.27 billion through the issuance of convertible notes due in 2027 and 2029.
Looking forward, the company expects fourth-quarter product revenue to be between $906 million and $911 million. YoY growth rate of Approximately 23%.
company Net loss was $327.9 million. Heading into the quartercompared to In the same period last year, it was $214.7 million.
BEN reports mixed results
Brand Engagement Network, an AI solution provider, reported The company posted its first big quarterly profit of $50,000 as it expanded its healthcare AI partnership, but its losses widened.
“We have made significant progress in delivering secure, scalable AI solutions and furthering our mission to transform industries with intelligent technology,” said CEO Paul Chang. . news release.
The Wyoming company has signed agreements with KangarooHealth for remote patient monitoring and IntelliTek and AI assistants for medical operations. These partnerships aim to Enhance patient engagement and chronic care management across multiple geographies using BEN’s conversational AI technology.
However, operating loss widened to $5.82 million from $2.58 million in the year-ago period, reflecting significant investments in AI development and expansion. The company has a $50 million stock purchase agreement with Yorkville Advisors to fund growth and plans to acquire German tech company Cataneo for $19.5 million by the end of the year.
The company’s aggressive push into healthcare AI points to a strategy to commercialize conversational AI technology in high-value areas, even as cash reserves declined to $72,878 from $1.69 million at the beginning of the year. .
