NVIDIA Reports Strong First Quarter on Record Datacenter Revenue

NVIDIA has reported Q1 revenue of $1.94 billion, buoyed by record datacenter sales of $409 million. The datacenter business has been growing by leaps and bounds for the graphics chipmaker, thanks largely to the rapidly expanding market for high GPUs in deep learning. Revenue for the first quarter (Q1 FY18) beat analyst estimates and represents a 48 percent increase from last year at this time. Even more encouraging was net income, which amounted to $507 million for the quarter. That's more than twice that reported for the first quarter in 2016.