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Nvidia Earnings Report Highlights Strong Growth
Nvidia’s recent earnings call on November 19, 2023, revealed a significant surge in revenue, with networking revenue increasing by 264% year-over-year, surpassing income from gaming and AI combined. The company now holds over $500 billion in AI chip orders for its Blackwell GPUs, with demand consistently exceeding supply.
Despite stiff competition from companies like Broadcom and Advanced Micro Devices, Nvidia maintains attractive operating margins at 38.5 times forward earnings estimates, making it cheaper than major retailers such as Walmart and Costco. Nvidia’s shift towards data centers has solidified its position as a leader in the AI space.
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