Following the AI boom, the key revenue drivers of the largest US chipmaker have changed dramatically.
Server processors for analytics and artificial intelligence quickly surpassed NVIDIA’s main historical business, GPUs for computers, and now constitute the largest source of revenue for the company. Given the rapid demand for hardware that drives AI models, NVIDIA’s revenues in the last quarter reached $22.1 billion — 265% more than last year.
The chart below shows NVIDIA’s revenue by product line from 2019 to 2024. Illustration created by Visual Capitalistbased on Syntax Affinity data.
NVIDIA’s server processor business has experienced explosive growth, up about 409% from the fourth quarter of last year. This includes H100 accelerators, which power AI systems and are worth billions to major tech companies — Meta plans to use 350 thousand H100s in 2024.
The company has played a key role in the development of PC GPUs — they currently account for 17.1% of NVIDIA’s total revenue. For the first time, gaming graphics cards ceded leadership of professional accelerators for data centers in the company’s sales in 2020.
GPUs for 3D visualization and the automotive industry generate 2.6% and 1.8% of NVIDIA’s revenue, respectively.