Nvidia increased its revenue by 206 percent

Nvidia capitalized heavily on the artificial intelligence trend, growing its revenue by 206 percent in the last quarter. According to the financial results of the third quarter of the year ending October 29, 2023, the company's revenue increased by 206 percent compared to the previous year and reached $18.12 billion.

Data center revenue, which includes artificial intelligence chips, rose 279 percent to $14.51 billion, while revenue in the gaming segment rose 81 percent to $2.86 billion. Nvidia is targeting revenue of $20 billion in the fiscal fourth quarter, a 231 percent increase. The company's revenue streams have shifted from selling video game GPUs in PCs to data center solutions. This shift has fueled demand for Nvidia's GPUs as demand for artificial intelligence grows.