https://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-third-quarter-fiscal-2023 [ ] PLATFORMS Autonomous Machines Autonomous Machines Cloud & Data Center Cloud & Data Center Deep Learning & Ai Deep Learning & Ai Design & Pro Visualization Design & Pro Visualization Healthcare Healthcare High Performance Computing High Performance Computing Self-Driving Cars Self-Driving Cars Gaming & Entertainment Gaming & Entertainment other links * Developers * Industries * Shop * Drivers * Support * About NVIDIA * View All Products * GPU TECHNOLOGY CONFERENCE * NVIDIA Blog * Community * Careers * TECHNOLOGIES Newsroom NVIDIA in Brief Exec Bios NVIDIA Blog Podcast Media Assets In the News Press Contacts * NVIDIA in Brief * Exec Bios * NVIDIA Blog * Podcast * Media Assets * In the News * Press Contacts Press Release Share NVIDIA Announces Financial Results for Third Quarter Fiscal 2023 Wednesday, November 16, 2022 * Data Center revenue of $3.83 billion, up 31% from a year ago * Quarterly return to shareholders of $3.75 billion NVIDIA (NASDAQ: NVDA) today reported revenue for the third quarter ended October 30, 2022, of $5.93 billion, down 17% from a year ago and down 12% from the previous quarter. GAAP earnings per diluted share for the quarter were $0.27, down 72% from a year ago and up 4% from the previous quarter. Non-GAAP earnings per diluted share were $0.58, down 50% from a year ago and up 14% from the previous quarter. "We are quickly adapting to the macro environment, correcting inventory levels and paving the way for new products," said Jensen Huang, founder and CEO of NVIDIA. "The ramp of our new platforms -- Ada Lovelace RTX graphics, Hopper AI computing, BlueField and Quantum networking, Orin for autonomous vehicles and robotics, and Omniverse -- is off to a great start and forms the foundation of our next phase of growth. "NVIDIA's pioneering work in accelerated computing is more vital than ever. Limited by physics, general purpose computing has slowed to a crawl, just as AI demands more computing. Accelerated computing lets companies achieve orders-of-magnitude increases in productivity while saving money and the environment," he said. During the third quarter of fiscal 2023, NVIDIA returned to shareholders $3.75 billion in share repurchases and cash dividends, bringing the return in the first three quarters to $9.29 billion. As of October 30, 2022, the company had $8.28 billion remaining under its share repurchase authorization through December 2023. NVIDIA will pay its next quarterly cash dividend of $0.04 per share on December 22, 2022, to all shareholders of record on December 1, 2022. Q3 Fiscal 2023 Summary GAAP ($ in millions, except Q3 FY23 Q2 FY23 Q3 FY22 Q/Q Y/Y earnings per share) Revenue $5,931 $6,704 $7,103 Down Down 17% 12% Gross margin 53.6 % 43.5 % 65.2 % Up 10.1 Down pts 11.6 pts Operating expenses $2,576 $2,416 $1,960 Up 7% Up 31% Operating income $601 $499 $2,671 Up 20% Down 77% Net income $680 $656 $2,464 Up 4% Down 72% Diluted earnings per $0.27 $0.26 $0.97 Up 4% Down 72% share Non-GAAP ($ in millions, except Q3 FY23 Q2 FY23 Q3 FY22 Q/Q Y/Y earnings per share) Revenue $5,931 $6,704 $7,103 Down Down 17% 12% Gross margin 56.1 % 45.9 % 67.0 % Up 10.2 Down pts 10.9 pts Operating expenses $1,793 $1,749 $1,375 Up 3% Up 30% Operating income $1,536 $1,325 $3,386 Up 16% Down 55% Net income $1,456 $1,292 $2,973 Up 13% Down 51% Diluted earnings per $0.58 $0.51 $1.17 Up 14% Down 50% share Outlook NVIDIA's outlook for the fourth quarter of fiscal 2023 is as follows: * Revenue is expected to be $6.00 billion, plus or minus 2%. * GAAP and non-GAAP gross margins are expected to be 63.2% and 66.0%, respectively, plus or minus 50 basis points. * GAAP and non-GAAP operating expenses are expected to be approximately $2.56 billion and $1.78 billion, respectively. * GAAP and non-GAAP other income and expense are expected to be an income of approximately $40 million, excluding gains and losses from non-affiliated investments. * GAAP and non-GAAP tax rates are expected to be 9.0%, plus or minus 1%, excluding any discrete items. Highlights NVIDIA achieved progress since its previous earnings announcement in these areas: Data Center * Third-quarter revenue was $3.83 billion, up 31% from a year ago and up 1% from the previous quarter. * Began shipping the NVIDIA(r) H100 Tensor Core GPU based on the new NVIDIA Hopper(tm) architecture, with first systems available now. * Announced at the SC22 supercomputing conference that NVIDIA H100 and Quantum-2 systems are being broadly adopted; that NVIDIA Omniverse(tm) connects to leading scientific computing visualization software; and that NVIDIA powers 90% of the new systems in the latest TOP500 list of the world's fastest supercomputers, including the H100-powered system deployed at the Flatiron Institute, in the U.S, which topped the Green500 list of the most-efficient systems. * Announced a multi-year collaboration with Microsoft to help enterprises train, deploy and scale AI, including state-of-the-art models, through Microsoft Azure, which is deploying tens of thousands of A100 and H100 GPUs. * Announced a multi-year partnership with Oracle to bring NVIDIA's full accelerated computing stack to Oracle Cloud Infrastructure, which is deploying tens of thousands more NVIDIA GPUs, including A100 and H100 accelerators. * Announced a partnership with Nuance Communications to bring AI-based diagnostic tools to clinical radiologists. * Announced that Rescale is integrating NVIDIA AI Enterprise software into its HPC-as-a-service offering. * Announced two new large language model cloud AI services -- NVIDIA NeMo(tm) LLM and NVIDIA BioNeMo(tm) LLM -- enabling developers to easily adapt LLMs and deploy customized AI applications for content generation, text summarization, protein structure and biomolecular property predictions, and more. * Announced that NVIDIA H100 Tensor Core GPUs set records in both AI inference and AI training on all workloads in their first appearances on the MLPerf AI benchmarks. * Unveiled the second generation of NVIDIA OVX(tm), powered by the Ada Lovelace GPU architecture and enhanced networking technology, enabling the creation of 3D worlds with groundbreaking real-time graphics, AI and digital-twin simulation capabilities. * Announced a new data center solution delivering zero-trust security optimized for VMware vSphere 8 combining Dell PowerEdge servers with NVIDIA BlueField(r) DPUs, NVIDIA GPUs and NVIDIA AI Enterprise software. Gaming * Third-quarter revenue was $1.57 billion, down 51% from a year ago and down 23% from the previous quarter. * Launched GeForce RTX(tm) 4090, the first Ada Lovelace architecture GPU for gamers and creators, which quickly sold out in many locations. Sales began today of the RTX 4080. * Introduced NVIDIA DLSS 3, an AI-powered performance multiplier for a new era of NVIDIA RTX(tm) neural rendering. More than 240 DLSS games and applications are now available, and 35 have announced support for DLSS 3, including Marvel's Spider-Man Remastered, Cyberpunk 2077 and Microsoft Flight Simulator. * Shipped 37 new RTX games and apps, pushing up the total available to more than 360. * Expanded the GeForce NOW(tm) library with 85+ games, bringing the total available games to 1,400+. Professional Visualization * Third-quarter revenue was $200 million, down 65% from a year ago and down 60% from the previous quarter. * Introduced NVIDIA Omniverse(tm) Cloud, the company's first software- and infrastructure-as-a-service offering, with a comprehensive suite of cloud services for artists, developers and enterprise teams to access metaverse applications. Automotive and Embedded * Third-quarter revenue was $251 million, up 86% from a year ago and up 14% from the previous quarter. * Introduced NVIDIA DRIVE Thor(tm), the company's 2,000 TFLOPS next-generation centralized computer for safe and secure autonomous vehicles, with Geely-owned ZEEKR integrating it into electric vehicles in 2025. * Marked the launch of the all-electric Volvo EX90, powered by NVIDIA DRIVE Orin and Xavier(tm), and Polestar 3, the brand's first SUV, which runs on the NVIDIA DRIVE(tm) platform. * Announced that Hozon Auto's Neta brand will build future electric vehicles on the NVIDIA DRIVE Orin(tm) platform, enabling automated driving and intelligent features. * Announced new DRIVE IX ecosystem partners that are building on the company's open AI cockpit software stack to deliver interactive features for vehicles. * Launched Jetson Orin Nano(tm) system-on-modules that deliver up to 80x the performance over the prior generation for entry-level edge AI and robotics. CFO Commentary Commentary on the quarter by Colette Kress, NVIDIA's executive vice president and chief financial officer, is available at https:// investor.nvidia.com/. Conference Call and Webcast Information NVIDIA will conduct a conference call with analysts and investors to discuss its third quarter fiscal 2023 financial results and current financial prospects today at 2 p.m. Pacific time (5 p.m. Eastern time). A live webcast (listen-only mode) of the conference call will be accessible at NVIDIA's investor relations website, https:// investor.nvidia.com. The webcast will be recorded and available for replay until NVIDIA's conference call to discuss its financial results for its fourth quarter and fiscal 2023. Non-GAAP Measures To supplement NVIDIA's condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP other income (expense), net, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, and free cash flow. For NVIDIA's investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude acquisition termination costs, stock-based compensation expense, acquisition-related and other costs, contributions, IP-related costs, legal settlement costs, restructuring costs, gains and losses from non-affiliated investments, interest expense related to amortization of debt discount, the associated tax impact of these items where applicable and domestication tax benefit. Free cash flow is calculated as GAAP net cash provided by operating activities less both purchases of property and equipment and intangible assets and principal payments on property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user's overall understanding of the company's historical financial performance. The presentation of the company's non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company's financial results prepared in accordance with GAAP, and the company's non-GAAP measures may be different from non-GAAP measures used by other companies. NVIDIA CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share data) (Unaudited) Three Months Ended Nine Months Ended October October October October 30, 31, 30, 31, 2022 2021 2022 2021 Revenue $ 5,931 $ 7,103 $ 20,923 $ 19,271 Cost of revenue 2,754 2,472 9,400 6,795 Gross profit 3,177 4,631 11,523 12,476 Operating expenses Research and 1,945 1,403 5,387 3,802 development Sales, general and 631 557 1,815 1,603 administrative Acquisition - - 1,353 - termination cost Total operating 2,576 1,960 8,555 5,405 expenses Income from 601 2,671 2,968 7,071 operations Interest income 88 7 152 20 Interest expense (65 ) (62 ) (198 ) (175 ) Other, net (11 ) 22 (29 ) 160 Other income 12 (33 ) (75 ) 5 (expense), net Income before income 613 2,638 2,893 7,076 tax Income tax expense (67 ) 174 (61 ) 327 (benefit) Net income $ 680 $ 2,464 $ 2,954 $ 6,749 Net income per share: Basic $ 0.27 $ 0.99 $ 1.18 $ 2.71 Diluted $ 0.27 $ 0.97 $ 1.17 $ 2.67 Weighted average shares used in per share computation: Basic 2,483 2,499 2,495 2,493 Diluted 2,499 2,538 2,517 2,532 NVIDIA CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) (Unaudited) October January 30, 30, 2022 2022 ASSETS Current assets: Cash, cash equivalents and marketable $ 13,143 $ 21,208 securities Accounts receivable, net 4,908 4,650 Inventories 4,454 2,605 Prepaid expenses and other current assets 718 366 Total current assets 23,223 28,829 Property and equipment, net 3,774 2,778 Operating lease assets 927 829 Goodwill 4,372 4,349 Intangible assets, net 1,850 2,339 Deferred income tax assets 2,762 1,222 Other assets 3,580 3,841 Total assets $ 40,488 $ 44,187 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,491 $ 1,783 Accrued and other current liabilities 4,115 2,552 Short-term debt 1,249 - Total current liabilities 6,855 4,335 Long-term debt 9,701 10,946 Long-term operating lease liabilities 798 741 Other long-term liabilities 1,785 1,553 Total liabilities 19,139 17,575 Shareholders' equity 21,349 26,612 Total liabilities and shareholders' $ 40,488 $ 44,187 equity NVIDIA CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Three Months Ended Nine Months Ended October 30, October 31, October 30, October 31, 2022 2021 2022 2021 Cash flows from operating activities: Net income $ 680 $ 2,464 $ 2,954 $ 6,749 Adjustments to reconcile net income to net cash provided by operating activities: Stock-based compensation 745 559 1,971 1,453 expense Depreciation and 406 298 1,118 865 amortization Losses (gains) on investments 11 (21 ) 35 (152 ) in non affiliates, net Deferred income (532 ) (20 ) (1,517 ) (182 ) taxes Acquisition - - 1,353 - termination cost Other (45 ) 10 (27 ) 25 Changes in operating assets and liabilities, net of acquisitions: Accounts 410 (366 ) (258 ) (1,523 ) receivable Inventories (563 ) (118 ) (1,848 ) (400 ) Prepaid expenses 247 (1,575 ) (1,307 ) (1,557 ) and other assets Accounts payable (917 ) 141 (358 ) 385 Accrued and other current (92 ) (8 ) 1,175 159 liabilities Other long-term 42 155 102 253 liabilities Net cash provided by operating 392 1,519 3,393 6,075 activities Cash flows from investing activities: Proceeds from maturities of 5,809 2,545 16,792 7,780 marketable securities Proceeds from sales of 75 211 1,806 916 marketable securities Purchases of marketable (2,188 ) (6,752 ) (9,764 ) (16,020 ) securities Purchases related to property and (530 ) (221 ) (1,324 ) (703 ) equipment and intangible assets Acquisitions, net of cash - (203 ) (49 ) (203 ) acquired Investments and (18 ) (18 ) (83 ) (14 ) other, net Net cash provided by (used in) 3,148 (4,438 ) 7,378 (8,244 ) investing activities Cash flows from financing activities: Proceeds related to employee 143 149 349 277 stock plans Payments related to repurchases (3,485 ) - (8,826 ) - of common stock Payments related to tax on (294 ) (440 ) (1,131 ) (1,282 ) restricted stock units Dividends paid (100 ) (100 ) (300 ) (298 ) Principal payments on property and (18 ) (22 ) (54 ) (62 ) equipment and intangible assets Issuance of debt, net of - (8 ) - 4,977 issuance costs Repayment of - (1,000 ) - (1,000 ) debt Other 1 - 1 (2 ) Net cash provided by (used in) (3,753 ) (1,421 ) (9,961 ) 2,610 financing activities Change in cash and (213 ) (4,340 ) 810 441 cash equivalents Cash and cash equivalents at 3,013 5,628 1,990 847 beginning of period Cash and cash equivalents at end $ 2,800 $ 1,288 $ 2,800 $ 1,288 of period NVIDIA CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) (Unaudited) Three Months Ended Nine Months Ended October July 31, October October October 30, 31, 30, 31, 2022 2022 2021 2022 2021 GAAP gross profit $ 3,177 $ 2,915 $ 4,631 $ 11,523 $ 12,476 GAAP gross margin 53.6 % 43.5 % 65.2 % 55.1 % 64.7 % Acquisition-related and 120 121 86 335 258 other costs (A) Stock-based compensation 32 38 44 108 102 expense (B) IP-related costs - - - - 8 Non-GAAP gross profit $ 3,329 $ 3,074 $ 4,761 $ 11,966 $ 12,844 Non-GAAP gross margin 56.1 % 45.9 % 67.0 % 57.2 % 66.6 % GAAP operating expenses $ 2,576 $ 2,416 $ 1,960 $ 8,555 $ 5,405 Stock-based compensation (713 ) (611 ) (515 ) (1,863 ) (1,351 ) expense (B) Acquisition-related and (54 ) (54 ) (70 ) (164 ) (224 ) other costs (A) Restructuring costs (C) (16 ) - - (16 ) - Contributions - (2 ) - (2 ) - Acquisition termination - - - (1,353 ) - cost Legal settlement costs - - - (7 ) - Non-GAAP operating $ 1,793 $ 1,749 $ 1,375 $ 5,150 $ 3,830 expenses GAAP income from $ 601 $ 499 $ 2,671 $ 2,968 $ 7,071 operations Total impact of non-GAAP adjustments to income 935 826 715 3,848 1,943 from operations Non-GAAP income from $ 1,536 $ 1,325 $ 3,386 $ 6,816 $ 9,014 operations GAAP other income $ 12 $ (24 ) $ (33 ) $ (75 ) $ 5 (expense), net (Gains) losses from non-affiliated 11 7 (20 ) 36 (153 ) investments Interest expense related to amortization of debt 1 1 1 3 3 discount Non-GAAP other income $ 24 $ (16 ) $ (52 ) $ (36 ) $ (145 ) (expense), net GAAP net income $ 680 $ 656 $ 2,464 $ 2,954 $ 6,749 Total pre-tax impact of 947 833 696 3,887 1,793 non-GAAP adjustments Income tax impact of (171 ) (197 ) (187 ) (649 ) (381 ) non-GAAP adjustments (D) Domestication tax - - - - (252 ) adjustments Non-GAAP net income $ 1,456 $ 1,292 $ 2,973 $ 6,192 $ 7,909 Diluted net income per share GAAP $ 0.27 $ 0.26 $ 0.97 $ 1.17 $ 2.67 Non-GAAP $ 0.58 $ 0.51 $ 1.17 $ 2.46 $ 3.12 Weighted average shares used in diluted net income 2,499 2,516 2,538 2,517 2,532 per share computation GAAP net cash provided by $ 392 $ 1,271 $ 1,519 $ 3,393 $ 6,075 operating activities Purchases related to property and equipment (530 ) (432 ) (221 ) (1,324 ) (703 ) and intangible assets Principal payments on (18 ) (15 ) (22 ) (54 ) (62 ) property and equipment Free cash flow $ (156 ) $ 824 $ 1,276 $ 2,015 $ 5,310 (A) Acquisition-related and other costs are comprised of amortization of intangible assets, transaction costs, and certain compensation charges and are included in the following line items: Three Months Ended Nine Months Ended October July 31, October October October 30, 31, 30, 31, 2022 2022 2021 2022 2021 Cost of revenue $ 120 $ 121 $ 86 $ 335 $ 258 Research and development $ 10 $ 10 $ 7 $ 29 $ 10 Sales, general and $ 44 $ 44 $ 63 $ 135 $ 214 administrative (B) Stock-based compensation consists of the following: Three Months Ended Nine Months Ended October July 31, October October October 30, 31, 30, 31, 2022 2022 2021 2022 2021 Cost of revenue $ 32 $ 38 $ 44 $ 108 $ 102 Research and development $ 530 $ 452 $ 363 $ 1,365 $ 935 Sales, general and $ 183 $ 159 $ 152 $ 498 $ 416 administrative (C) Costs related to Russia branch office closure. (D) Income tax impact of non-GAAP adjustments, including the recognition of excess tax benefits or deficiencies related to stock-based compensation under GAAP accounting standard (ASU 2016-09). NVIDIA CORPORATION RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK Q4 FY2023 Outlook ($ in millions) GAAP gross margin 63.2 % Impact of stock-based compensation expense, 2.8 % acquisition-related costs, and other costs Non-GAAP gross margin 66.0 % GAAP operating expenses $ 2,560 Stock-based compensation expense, acquisition-related (780 ) costs, and other costs Non-GAAP operating expenses $ 1,780 About NVIDIA Since its founding in 1993, NVIDIA (NASDAQ: NVDA) has been a pioneer in accelerated computing. The company's invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined computer graphics, ignited the era of modern AI and is fueling the creation of the metaverse. NVIDIA is now a full-stack computing company with data-center-scale offerings that are reshaping industry. More information at https://nvidianews.nvidia.com/. Certain statements in this press release including, but not limited to, statements as to: NVIDIA quickly adapting to the macro environment, correcting inventory levels and paving the way for new products; the ramp of NVIDIA's new platforms forming the foundation of NVIDIA's next phase of growth; NVIDIA's pioneering work in accelerated computing being more vital than ever; AI demanding more computing; accelerated computing letting companies achieve orders-of-magnitude increases in productivity while saving money and the environment; NVIDIA's next quarterly cash dividend; NVIDIA's financial outlook for the fourth quarter of fiscal 2023; NVIDIA's expected tax rates for the fourth quarter of fiscal 2023; the benefits, impact, performance, and availabilities of our products and technologies; NVIDIA H100 and Quantum-2 systems being broadly adopted; the multi-year collaboration with Microsoft to help enterprises train, deploy and scale AI, including state-of-the-art models; the multi-year partnership with Oracle to bring NVIDIA's full accelerated computing stack to Oracle Cloud Infrastructure; the partnership with Nuance Communications to bring AI-based diagnostic tools to clinical radiologists; Rescale integrating NVIDIA AI Enterprise into its HPC-as-a-service offering; NVIDIA NeMo LLM and NVIDIA BioNeMo LLM enabling developers to easily adapt LLMs and deploy customized AI applications for content generation, text summarization, protein structure, biomolecular property predictions, and more; the second generation of NVIDIA OVX enabling the creation of 3D worlds with groundbreaking real-time graphics, AI and digital-twin simulation capabilities; the new data center solution delivering zero-trust security optimized for VMware vSphere 8 combining Dell PowerEdge servers with NVIDIA BlueField DPUs, NVIDIA GPUs and NVIDIA AI Enterprise software; NVIDIA Omniverse Cloud providing a comprehensive suite of cloud services for artists, developers and enterprise teams to access metaverse applications; ZEEKR integrating NVIDIA DRIVE Thor into electric vehicles in 2025; Hozon Auto's Neta brand building future electric vehicles on the NVIDIA DRIVE Orin platform, enabling automated driving and intelligent features; new DRIVE IX ecosystem partners building on the company's open AI cockpit software stack to deliver interactive features for vehicles; and the Jetson Orin Nano system-on-modules delivering up to 80x the performance over the prior generation for entry-level edge AI and robotics are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners' products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. (c) 2022 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, GeForce NOW, GeForce RTX, Jetson Orin Nano, NVIDIA BioNeMo, NVIDIA BlueField, NVIDIA DRIVE, NVIDIA DRIVE Orin, NVIDIA DRIVE Thor, NVIDIA Hopper, NVIDIA NeMo, NVIDIA RTX, NVIDIA OVX and NVIDIA Omniverse are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability, and specifications are subject to change without notice. Media Contacts Simona Jankowski Investor Relations sjankowski@nvidia.com Robert Sherbin Corporate Communications rsherbin@nvidia.com Downloads * Download Press Release More News [NVIDIA] NVIDIA Teams With Microsoft to Build Massive Cloud AI Computer Wednesday, November 16, 2022 [hpc-press-] NVIDIA H100 and Quantum-2 Systems Announced Worldwide Monday, November 14, 2022 [NVIDIA] NVIDIA Omniverse Opens Portals for Scientists to Explore Our Universe Monday, November 14, 2022 [NVIDIA-log] NVIDIA Sets Conference Call for Third-Quarter Financial Results Wednesday, November 2, 2022 [deloitte-a] NVIDIA and Deloitte to Bring New Services Built on NVIDIA AI and Omniverse Platforms to the World's Enterprises Tuesday, September 20, 2022 About NVIDIA Since its founding in 1993, NVIDIA (NASDAQ: NVDA) has been a pioneer in accelerated computing. The company's invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined computer graphics, ignited the era of modern AI and is fueling the creation of the metaverse. NVIDIA is now a full-stack computing company with data-center-scale offerings that are reshaping industry. More information at https://nvidianews.nvidia.com/. Certain statements in this press release including, but not limited to, statements as to: NVIDIA quickly adapting to the macro environment, correcting inventory levels and paving the way for new products; the ramp of NVIDIA's new platforms forming the foundation of NVIDIA's next phase of growth; NVIDIA's pioneering work in accelerated computing being more vital than ever; AI demanding more computing; accelerated computing letting companies achieve orders-of-magnitude increases in productivity while saving money and the environment; NVIDIA's next quarterly cash dividend; NVIDIA's financial outlook for the fourth quarter of fiscal 2023; NVIDIA's expected tax rates for the fourth quarter of fiscal 2023; the benefits, impact, performance, and availabilities of our products and technologies; NVIDIA H100 and Quantum-2 systems being broadly adopted; the multi-year collaboration with Microsoft to help enterprises train, deploy and scale AI, including state-of-the-art models; the multi-year partnership with Oracle to bring NVIDIA's full accelerated computing stack to Oracle Cloud Infrastructure; the partnership with Nuance Communications to bring AI-based diagnostic tools to clinical radiologists; Rescale integrating NVIDIA AI Enterprise into its HPC-as-a-service offering; NVIDIA NeMo LLM and NVIDIA BioNeMo LLM enabling developers to easily adapt LLMs and deploy customized AI applications for content generation, text summarization, protein structure, biomolecular property predictions, and more; the second generation of NVIDIA OVX enabling the creation of 3D worlds with groundbreaking real-time graphics, AI and digital-twin simulation capabilities; the new data center solution delivering zero-trust security optimized for VMware vSphere 8 combining Dell PowerEdge servers with NVIDIA BlueField DPUs, NVIDIA GPUs and NVIDIA AI Enterprise software; NVIDIA Omniverse Cloud providing a comprehensive suite of cloud services for artists, developers and enterprise teams to access metaverse applications; ZEEKR integrating NVIDIA DRIVE Thor into electric vehicles in 2025; Hozon Auto's Neta brand building future electric vehicles on the NVIDIA DRIVE Orin platform, enabling automated driving and intelligent features; new DRIVE IX ecosystem partners building on the company's open AI cockpit software stack to deliver interactive features for vehicles; and the Jetson Orin Nano system-on-modules delivering up to 80x the performance over the prior generation for entry-level edge AI and robotics are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners' products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. (c) 2022 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, GeForce NOW, GeForce RTX, Jetson Orin Nano, NVIDIA BioNeMo, NVIDIA BlueField, NVIDIA DRIVE, NVIDIA DRIVE Orin, NVIDIA DRIVE Thor, NVIDIA Hopper, NVIDIA NeMo, NVIDIA RTX, NVIDIA OVX and NVIDIA Omniverse are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability, and specifications are subject to change without notice. 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