NVIDIA

This story was delivered to BI Intelligence Apps and Platforms Briefing subscribers. To learn more and subscribe, please click here.

Nvidia posted earnings for its fiscal Q3 (ended October 29), and its performance surpassed analyst expectations yet again.

Strong demand for the company’s graphic processing chips, which are used in gaming and data centers, as well as the accelerating adoption of artificial intelligence (AI) and driverless cars, largely drove growth during the quarter.

The graphics chip designer reported record revenue of $2.6 billion, up 32% year-over-year (YoY) from $2 billion, and up 18% from the $2.2 billion it posted in the previous quarter.

Nvidia’s gaming and cloud segments were the primary drivers of the company’s solid Q3, and will likely remain areas of high growth for the company as it secures its position as a leader in AI.