NVIDIA Announces Financial Results for Third Quarter Fiscal 2021

November 19, 2020

Nov. 19, 2020 — NVIDIA today reported record revenue for the third quarter ended October 25, 2020, of $4.73 billion, up 57 percent from $3.01 billion a year earlier, and up 22 percent from $3.87 billion in the previous quarter.

GAAP earnings per diluted share for the quarter were $2.12, up 46 percent from $1.45 a year ago, and up 114 percent from $0.99 in the previous quarter. Non-GAAP earnings per diluted share were $2.91, up 63 percent from $1.78 a year earlier, and up 33 percent from $2.18 in the previous quarter.

NVIDIA_logo“NVIDIA is firing on all cylinders, achieving record revenues in Gaming, Data Center and overall,” said Jensen Huang, founder and CEO of NVIDIA. “The new NVIDIA GeForce RTX GPU provides our largest-ever generational leap and demand is overwhelming. NVIDIA RTX has made ray tracing the new standard in gaming.

“We are continuing to raise the bar with NVIDIA AI. Our A100 compute platform is ramping fast, with the top cloud companies deploying it globally. We swept the industry AI inference benchmark, and our customers are moving some of the world’s most popular AI services into production, powered by NVIDIA technology.

“We announced the NVIDIA DPU programmable data center processor, and the planned acquisition of Arm, creator of the world’s most popular CPU. We are positioning NVIDIA for the age of AI, when computing will extend from the cloud to trillions of devices.”

NVIDIA paid $99 million in quarterly cash dividends in the third quarter. It will pay its next quarterly cash dividend of $0.16 per share on December 29, 2020, to all shareholders of record on December 4, 2020.

Q3 Fiscal 2021 Summary

GAAP
($ in millions, except
earnings per share)
Q3 FY21 Q2 FY21 Q3 FY20     Q/Q Y/Y
Revenue $4,726 $3,866 $3,014 Up 22% Up 57%
Gross margin 62.6 % 58.8 % 63.6 % Up 380 bps Down 100 bps
Operating expenses $1,562 $1,624 $989 Down 4% Up 58%
Operating income $1,398 $651 $927 Up 115% Up 51%
Net income $1,336 $622 $899 Up 115% Up 49%
Diluted earnings per share $2.12 $0.99 $1.45 Up 114% Up 46%

 

Non-GAAP
($ in millions, except
earnings per share)
Q3 FY21 Q2 FY21 Q3 FY20     Q/Q Y/Y
Revenue $4,726 $3,866 $3,014 Up 22% Up 57%
Gross margin 65.5 % 66.0 % 64.1 % Down 50 bps Up 140 bps
Operating expenses $1,101 $1,035 $774 Up 6% Up 42%
Operating income $1,993 $1,516 $1,156 Up 31% Up 72%
Net income $1,834 $1,366 $1,103 Up 34% Up 66%
Diluted earnings per share $2.91 $2.18 $1.78 Up 33% Up 63%

 

NVIDIA’s outlook for the fourth quarter of fiscal 2021 is as follows:

  • Revenue is expected to be $4.80 billion, plus or minus 2 percent.
  • GAAP and non-GAAP gross margins are expected to be 62.8 percent and 65.5 percent, respectively, plus or minus 50 basis points.
  • GAAP and non-GAAP operating expenses are expected to be approximately $1.64 billion and $1.18 billion, respectively.
  • GAAP and non-GAAP other income and expense are both expected to be an expense of approximately $55 million.
  • GAAP and non-GAAP tax rates are both expected to be 8 percent, plus or minus 1 percent, excluding any discrete items. GAAP discrete items include excess tax benefits or deficiencies related to stock-based compensation, which are expected to generate variability on a quarter-by-quarter basis.

Highlights

During the third quarter, NVIDIA announced a definitive agreement to acquire Arm Limited from SoftBank Capital Limited and SVF Holdco (UK) Limited in a transaction valued at $40 billion. The transaction will combine NVIDIA’s leading AI computing platform with Arm’s vast ecosystem to create the premier computing company for the age of AI. The transaction ― which is expected to be immediately accretive to NVIDIA’s non-GAAP gross margin and non-GAAP earnings per share ― is expected to close in the first quarter of calendar 2022.

NVIDIA also announced plans to build a world-class AI lab in Cambridge, England ― including a powerful AI supercomputer based on NVIDIA and Arm technology ― and provide research fellowships and partnerships with local institutions and AI training courses. Separately, it plans to build Cambridge-1, the U.K.’s most powerful AI supercomputer, based on an NVIDIA DGX SuperPOD system and designed for AI research in healthcare and drug discovery.

NVIDIA also achieved progress since its previous earnings announcement in these areas:

Data Center

  • Third-quarter revenue was a record $1.90 billion, up 8 percent from the previous quarter and up 162 percent from a year earlier.
  • Shared news that Amazon Web Services and Oracle Cloud Infrastructure announced general availability of cloud computing instances based on the NVIDIA A100 GPU, following Google Cloud Platform and Microsoft Azure.
  • Announced the NVIDIA DGX SuperPOD Solution for Enterprise ― the world’s first turnkey AI infrastructure ― which is expected to be installed by yearend in Korea, the U.K., India and Sweden.
  • Announced that five supercomputers backed by EuroHPC ― including “Leonardo,” the world’s fastest AI supercomputer built by the Italian inter-university consortium CINECA ― will use NVIDIA’s data center accelerators or networking.
  • Introduced the NVIDIA BlueField-2 DPU (data processing unit) ― supported by NVIDIA DOCA, a novel data-center-infrastructure-on-a-chip architecture ― to bring breakthrough networking, storage and security performance to every data center.
  • Announced a broad partnership with VMware to create an end-to-end enterprise platform for AI and a new architecture for data center, cloud and edge using NVIDIA DPUs, benefiting 300,000-plus VMware customers.
  • Unveiled NVIDIA Maxine, an AI video-streaming platform that enhances streaming quality and offers such AI-powered features as gaze correction, super-resolution, noise cancellation and face relighting.
  • Introduced the NVIDIA RTX A6000 and NVIDIA A40 GPUs, built on the NVIDIA Ampere architecture and featuring new RT Cores, Tensor Cores and CUDA cores.
  • Extended its lead on MLPerf performance benchmarks for inference, winning every test across all six application areas for data center and edge computing systems.
  • Announced a partnership with GSK to integrate computing platforms for imaging, genomics and AI into the drug and vaccine discovery process.
  • Introduced at SC20, three powerful advances in AI technology: the NVIDIA A100 80GB GPU, powering the NVIDIA HGX AI supercomputing platform with twice the memory of its predecessor; the NVIDIA DGX Station A100, the world’s only petascale workgroup server, for machine learning and data science workloads; and the next generation of NVIDIA Mellanox InfiniBand, for the fastest networking performance.

Gaming

  • Third-quarter revenue was a record $2.27 billion, up 37 percent from the previous quarter and up 37 percent from a year earlier.
  • Unveiled the GeForce RTX 30 Series GPUs, powered by the NVIDIA Ampere architecture and the second generation of RTX, with up to 2x the performance of the previous Turing-based generation.
  • Announced that Fortnite ― the world’s most popular video game ― will support NVIDIA RTX real-time ray tracing and DLSS AI super-resolution, joining more than two dozen other titles including Cyberpunk 2077, Call of Duty: Black Ops and Watch Dogs: Legion.
  • Introduced NVIDIA Reflex, a suite of technologies that improves reaction time in games by reducing system latency, which is available in Fortnite, Valorant, Call of Duty: Warzone and Apex Legends, among other titles.
  • Unveiled NVIDIA Broadcast, a plugin that enhances microphone, speaker and webcam quality with RTX-accelerated AI effects.

Professional Visualization

  • Third-quarter revenue was $236 million, up 16 percent from the previous quarter and down 27 percent from a year earlier.
  • Brought to open beta NVIDIA Omniverse, the world’s first NVIDIA RTX-based 3D simulation and collaboration platform.
  • Announced NVIDIA Omniverse Machinima, enabling creators with video game assets animated by NVIDIA AI technologies.
  • Collaborated with Adobe to bring GPU-accelerated neural filters to Adobe Photoshop AI-powered tools.

Automotive

  • Third-quarter revenue was $125 million, up 13 percent from the previous quarter and down 23 percent from a year earlier.
  • Announced with Mercedes-Benz that NVIDIA is powering the next-generation MBUX AI cockpit system, to be featured first in the new S-class sedan, with such features as an augmented reality heads-up display, AI voice assistant and interactive graphics.
  • Announced with Hyundai Motor Group that the Korean automaker’s entire lineup of Hyundai, Kia and Genesis models will come standard with NVIDIA DRIVE in-vehicle infotainment systems, starting in 2022.
  • Announced that China’s Li Auto will develop its next generation of electric vehicles using NVIDIA DRIVE AGX Orin, a software-defined platform for autonomous vehicles.

Full report available here.


Source: NVIDIA

Subscribe to HPCwire's Weekly Update!

Be the most informed person in the room! Stay ahead of the tech trends with industy updates delivered to you every week!

Oak Ridge Supercomputer Enables Next-Gen Jet Turbine Research

July 27, 2021

Air travel is notoriously carbon-inefficient, with many airlines going as far as to offer purchasable carbon offsets to ease the guilt over large-footprint travel. But even over just the last decade, major aircraft model Read more…

IBM and University of Tokyo Roll Out Quantum System One in Japan

July 27, 2021

IBM and the University of Tokyo today unveiled an IBM Quantum System One as part of the IBM-Japan quantum program announced in 2019. The system is the second IBM Quantum System One assembled outside the U.S. and follows Read more…

Intel Unveils New Node Names; Sapphire Rapids Is Now an ‘Intel 7’ CPU

July 27, 2021

What's a preeminent chip company to do when its process node technology lags the competition by (roughly) one generation, but outmoded naming conventions make it seem like it's two nodes behind? For Intel, the response w Read more…

Will Approximation Drive Post-Moore’s Law HPC Gains?

July 26, 2021

“Hardware-based improvements are going to get more and more difficult,” said Neil Thompson, an innovation scholar at MIT’s Computer Science and Artificial Intelligence Lab (CSAIL). “I think that’s something that this crowd will probably, actually, be already familiar with.” Thompson, speaking... Read more…

With New Owner and New Roadmap, an Independent Omni-Path Is Staging a Comeback

July 23, 2021

Put on a shelf by Intel in 2019, Omni-Path faced a uncertain future, but under new custodian Cornelis Networks, OmniPath is looking to make a comeback as an independent high-performance interconnect solution. A "significant refresh" – called Omni-Path Express – is coming later this year according to the company. Cornelis Networks formed last September as a spinout of Intel's Omni-Path division. Read more…

AWS Solution Channel

Accelerate innovation in healthcare and life sciences with AWS HPC

With Amazon Web Services, researchers can access purpose-built HPC tools and services along with scientific and technical expertise to accelerate the pace of discovery. Whether you are sequencing the human genome, using AI/ML for disease detection or running molecular dynamics simulations to develop lifesaving drugs, AWS has the infrastructure you need to run your HPC workloads. Read more…

PEARC21 Panel Reviews Eight New NSF-Funded HPC Systems Debuting in 2021

July 23, 2021

Over the past few years, the NSF has funded a number of HPC systems to further supply the open research community with computational resources to meet that community’s changing and expanding needs. A review of these systems at the PEARC21 conference (July 19-22) highlighted... Read more…

Intel Unveils New Node Names; Sapphire Rapids Is Now an ‘Intel 7’ CPU

July 27, 2021

What's a preeminent chip company to do when its process node technology lags the competition by (roughly) one generation, but outmoded naming conventions make i Read more…

Will Approximation Drive Post-Moore’s Law HPC Gains?

July 26, 2021

“Hardware-based improvements are going to get more and more difficult,” said Neil Thompson, an innovation scholar at MIT’s Computer Science and Artificial Intelligence Lab (CSAIL). “I think that’s something that this crowd will probably, actually, be already familiar with.” Thompson, speaking... Read more…

With New Owner and New Roadmap, an Independent Omni-Path Is Staging a Comeback

July 23, 2021

Put on a shelf by Intel in 2019, Omni-Path faced a uncertain future, but under new custodian Cornelis Networks, OmniPath is looking to make a comeback as an independent high-performance interconnect solution. A "significant refresh" – called Omni-Path Express – is coming later this year according to the company. Cornelis Networks formed last September as a spinout of Intel's Omni-Path division. Read more…

Chameleon’s HPC Testbed Sharpens Its Edge, Presses ‘Replay’

July 22, 2021

“One way of saying what I do for a living is to say that I develop scientific instruments,” said Kate Keahey, a senior fellow at the University of Chicago a Read more…

Summer Reading: “High-Performance Computing Is at an Inflection Point”

July 21, 2021

At last month’s 11th International Symposium on Highly Efficient Accelerators and Reconfigurable Technologies (HEART), a group of researchers led by Martin Schulz of the Leibniz Supercomputing Center (Munich) presented a “position paper” in which they argue HPC architectural landscape... Read more…

PEARC21 Panel: Wafer-Scale-Engine Technology Accelerates Machine Learning, HPC

July 21, 2021

Early use of Cerebras’ CS-1 server and wafer-scale engine (WSE) has demonstrated promising acceleration of machine-learning algorithms, according to participa Read more…

15 Years Later, the Green500 Continues Its Push for Energy Efficiency as a First-Order Concern in HPC

July 15, 2021

The Green500 list, which ranks the most energy-efficient supercomputers in the world, has virtually always faced an uphill battle. As Wu Feng – custodian of the Green500 list and an associate professor at Virginia Tech – tells it, “noone" cared about energy efficiency in the early 2000s, when the seeds... Read more…

Frontier to Meet 20MW Exascale Power Target Set by DARPA in 2008

July 14, 2021

After more than a decade of planning, the United States’ first exascale computer, Frontier, is set to arrive at Oak Ridge National Laboratory (ORNL) later this year. Crossing this “1,000x” horizon required overcoming four major challenges: power demand, reliability, extreme parallelism and data movement. Read more…

AMD Chipmaker TSMC to Use AMD Chips for Chipmaking

May 8, 2021

TSMC has tapped AMD to support its major manufacturing and R&D workloads. AMD will provide its Epyc Rome 7702P CPUs – with 64 cores operating at a base cl Read more…

Intel Launches 10nm ‘Ice Lake’ Datacenter CPU with Up to 40 Cores

April 6, 2021

The wait is over. Today Intel officially launched its 10nm datacenter CPU, the third-generation Intel Xeon Scalable processor, codenamed Ice Lake. With up to 40 Read more…

Berkeley Lab Debuts Perlmutter, World’s Fastest AI Supercomputer

May 27, 2021

A ribbon-cutting ceremony held virtually at Berkeley Lab's National Energy Research Scientific Computing Center (NERSC) today marked the official launch of Perlmutter – aka NERSC-9 – the GPU-accelerated supercomputer built by HPE in partnership with Nvidia and AMD. Read more…

Ahead of ‘Dojo,’ Tesla Reveals Its Massive Precursor Supercomputer

June 22, 2021

In spring 2019, Tesla made cryptic reference to a project called Dojo, a “super-powerful training computer” for video data processing. Then, in summer 2020, Tesla CEO Elon Musk tweeted: “Tesla is developing a [neural network] training computer called Dojo to process truly vast amounts of video data. It’s a beast! … A truly useful exaflop at de facto FP32.” Read more…

Google Launches TPU v4 AI Chips

May 20, 2021

Google CEO Sundar Pichai spoke for only one minute and 42 seconds about the company’s latest TPU v4 Tensor Processing Units during his keynote at the Google I Read more…

CentOS Replacement Rocky Linux Is Now in GA and Under Independent Control

June 21, 2021

The Rocky Enterprise Software Foundation (RESF) is announcing the general availability of Rocky Linux, release 8.4, designed as a drop-in replacement for the soon-to-be discontinued CentOS. The GA release is launching six-and-a-half months after Red Hat deprecated its support for the widely popular, free CentOS server operating system. The Rocky Linux development effort... Read more…

CERN Is Betting Big on Exascale

April 1, 2021

The European Organization for Nuclear Research (CERN) involves 23 countries, 15,000 researchers, billions of dollars a year, and the biggest machine in the worl Read more…

Iran Gains HPC Capabilities with Launch of ‘Simorgh’ Supercomputer

May 18, 2021

Iran is said to be developing domestic supercomputing technology to advance the processing of scientific, economic, political and military data, and to strengthen the nation’s position in the age of AI and big data. On Sunday, Iran unveiled the Simorgh supercomputer, which will deliver.... Read more…

Leading Solution Providers

Contributors

HPE Launches Storage Line Loaded with IBM’s Spectrum Scale File System

April 6, 2021

HPE today launched a new family of storage solutions bundled with IBM’s Spectrum Scale Erasure Code Edition parallel file system (description below) and featu Read more…

Julia Update: Adoption Keeps Climbing; Is It a Python Challenger?

January 13, 2021

The rapid adoption of Julia, the open source, high level programing language with roots at MIT, shows no sign of slowing according to data from Julialang.org. I Read more…

10nm, 7nm, 5nm…. Should the Chip Nanometer Metric Be Replaced?

June 1, 2020

The biggest cool factor in server chips is the nanometer. AMD beating Intel to a CPU built on a 7nm process node* – with 5nm and 3nm on the way – has been i Read more…

GTC21: Nvidia Launches cuQuantum; Dips a Toe in Quantum Computing

April 13, 2021

Yesterday Nvidia officially dipped a toe into quantum computing with the launch of cuQuantum SDK, a development platform for simulating quantum circuits on GPU-accelerated systems. As Nvidia CEO Jensen Huang emphasized in his keynote, Nvidia doesn’t plan to build... Read more…

Microsoft to Provide World’s Most Powerful Weather & Climate Supercomputer for UK’s Met Office

April 22, 2021

More than 14 months ago, the UK government announced plans to invest £1.2 billion ($1.56 billion) into weather and climate supercomputing, including procuremen Read more…

Q&A with Jim Keller, CTO of Tenstorrent, and an HPCwire Person to Watch in 2021

April 22, 2021

As part of our HPCwire Person to Watch series, we are happy to present our interview with Jim Keller, president and chief technology officer of Tenstorrent. One of the top chip architects of our time, Keller has had an impactful career. Read more…

Quantum Roundup: IBM, Rigetti, Phasecraft, Oxford QC, China, and More

July 13, 2021

IBM yesterday announced a proof for a quantum ML algorithm. A week ago, it unveiled a new topology for its quantum processors. Last Friday, the Technical Univer Read more…

Senate Debate on Bill to Remake NSF – the Endless Frontier Act – Begins

May 18, 2021

The U.S. Senate today opened floor debate on the Endless Frontier Act which seeks to remake and expand the National Science Foundation by creating a technology Read more…

  • arrow
  • Click Here for More Headlines
  • arrow
HPCwire