Gaming PC

Nvidia’s Revenue Drops Further, But Demand for Ada GPUs Exceeds Supply

Nvidia announced its third quarter results for fiscal year 2023 on Wednesday as its latest products based on the Ada Lovelace and Hopper architecture began to launch. As expected, the company’s gaming and professional graphics solutions sales declined quarter-over-quarter and year-over-year. Yet at the same time, the company sold a ton of data center products, including its latest H100 computing GPU. Additionally, demand for his latest GeForce RTX 40 series was so high that Nvidia couldn’t keep up.

Colette Kress, Chief Financial Officer of Nvidia, said: “The first Ada GPU, the GeForce RTX 4090, launched in mid-October after tremendous demand and positive feedback from the gaming community. We are working hard to keep up with demand.”

Nvidia’s third quarter 2023 revenue fell to $5.93 billion, down 12% quarter-on-quarter and 17% year-over-year. Net income fell to $680 million as the company’s gross margin fell to 53.6%, down from about 65% in the most recent quarter (but up from 43.5% in Q2 FY2023). Increased 4% quarter over quarter (QoQ). However, it is down a whopping 72% from the same period last year.

(Image credit: Nvidia)

Client GPU is down

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