On August 18, 2021, Nvidia announced its second quarter results. According to the report, Nvidia’s revenue beat the previous record highs in the previous quarter and far outperformed market expectations, but it was revealed that the growth of chips for mining crypto assets was beginning to show a shadow.
Nvidia revenue for the quarter reached an all-time high of $6.51 billion, up 68% year over year. This is higher than the $6.33 billion expected by Refinitiv, a financial market research firm.
A strong driver of Nvidia’s achievements was game sales, which increased 85% year-on-year and 11% QoQ to $3.06 billion, accounting for nearly half of Nvidia’s total sales. Nvidia released GeForce RTX 3080 Ti or GeForce RTX 3070 Ti, high-end GPUs that realized up to 50% performance improvement over the previous generation in June 2021. also announced
Data center business also recorded $2.37 billion, up 35% year-on-year and 16% quarter-on-quarter. In June, NVIDIA plans to develop and launch AI, including NVIDIA Base Command and NVIDIA Fleet Command, a software platform optimized for AI, and NVIDIA AI LaunchPad, which provides enterprise AI infrastructure. Supported services have been introduced one after another. As a result of these efforts, Nvidia’s data center business is showing strength in terms of software and hardware, with 342 of the supercomputers listed in the Supercomputer 500 adopting Nvidia technology.
According to the report, the growth in the game field is due to two factors: sales of GeForce series and demand for Nintendo Switch processors. The data center business also benefited greatly from the sales of graphics cards for data centers.
Meanwhile, graphics card sales for crypto assets were $266 million, 33% lower than the market forecast. Nvidia announced its CMP series sales of mining-only GPUs of $400 million in May, and chip sales for crypto assets this quarter fell far short of both its own and market expectations.
In this earnings report, Nvidia said in its earnings report that demand in the game sector continues to outstrip supply in an unusually strong manner. Related information can be found here.