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Cloud Stocks: Nvidia to Continue Dominating

With AI taking off, Nvidia's pioneering efforts in the accelerated computing space are paying off. Today, Nvidia's platform is used by 4.5 million developers and powers 76% of the TOP500 supercomputers. The company recently announced very strong quarterly results. Nvidia's Financials Nvidia's third quarter revenues grew a jaw dropping 206% to $18.12 billion, ahead of market estimates of $16.18 billion. Non GAAP EPS was $4.02, also ahead of market estimates of $3.37. By segment, data center revenues grew 279% to $14.51 billion. Gaming revenues grew 81% to $2.86 billion. Professional Visualization revenue grew 108% to $406 million. Automotive revenue grew 4% to $261 million. For the fourth quarter, the company forecast revenues of $20 billion or 231% growth, while the consensus estimate is at $16.06 billion. Nvidia's Data Center Growth Nvidia's Data Center segment powered its growth this quarter. It has leading cloud service providers such as Amazon and Goog ....

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