Nvidia’s data center business has hit a $2 billion annual revenue run rate and is showing no signs of slowing down as cloud providers gobble up the company’s GPUs.
The company’s third quarter earnings results were stellar as all of its businesses showed strong growth. But what’s really notable is how Nvidia’s data center business has doubled revenue compared to a year ago.
Nvidia’s third quarter non-GAAP earnings of $1.33 a share on revenue of $2.64 billion easy topped Wall Street estimates. Analysts were expecting earnings of 94 cents a share on revenue of $2.36 billion.
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CEO Jensen Huang said the data center business — powered by Nvidia’s Volta platform — is just starting to ramp.
As you know, we started ramping very strongly Volta this last quarter. And we started the ramp the quarter before. And since then, every major cloud provider from Amazon, Microsoft, Google to Baidu, Alibaba, and Tencent and even recently, Oracle, has announced support for Volta and we’ll be providing Volta for their internal use of deep…