The company said that it has been doing better than expected thanks to the strong demand for chips that power data centres and cryptocurrency mining.
Demand for Nvidia’s gaming graphic chips has soared during the COVID-19 pandemic, but the bigger boost to its sales has come from an aggressive push into artificial intelligence chips, which handle tasks such as speech and image recognition in data centres.
Nvidia Chief Financial Officer Colette Kress said: “While our fiscal 2022 first quarter is not yet complete, Q1 total revenue is tracking above the $5.30 billion outlook.
“Within Data Centre we have good visibility, and we expect another strong year. Industries are increasingly using AI to improve their products and services. We expect this will lead to increased consumption of our platform through cloud service providers, resulting in more purchases as we go through the year. Our EGX platform has strong momentum, and we expect this will drive increased revenue from enterprise and edge computing deployments in the second half of the year."
Nvidia’s unit that supports cryptocurrency mining is now expected to report sales of $150 million in the quarter, up from previous forecast of $50 million, the company said.
She added that demand will continue to exceed supply for much of this year. So anyone hoping that there will be plenty of chips around to drive down the price of their gaming rig better think again.