NVIDIA earned 3.08 billion thanks to AI and “clouds”

NVIDIA reported financial results for the first quarter of 2020. The company was able to increase revenue by 39% year on year, to $ 3.08 billion. Revenue beat expectations: revenue from chips for data centers for processing AI and cloud services increased markedly.

In general, the revenue of data centers grew by 80%, to 1.14 billion.

– COVID-19 created problems in supply and demand. At the beginning of the quarter, our partners’ supply chains were broken. Quarantine measures led to the closure of retail stores and Chinese iCafe, which affected the sale of our gaming products, the company’s financial director said in a letter. – Nevertheless, working from home, studying at home and playing games have led to an increase in demand for electronics.

The GPU division of the company grew by a quarter, to $ 1.9 billion in revenue.

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