FILE - A sign to a Nvidia office building is shown in Santa Clara, Calif., on Aug. 7, 2024. Shares of Nvidia slid early Monday after China said it is investigating the high-flying U.S. microchip company over suspected violations of Chinese anti-monopoly laws.
Nvidia’s shares have nearly tripled this year with the California company revenue and profit soaring on AI demand. According to data firm FactSet, about 16% of Nvidia’s revenue comes from China, second only to its U.S.-generated revenue.release, Nvidia posted revenue of $35.08 billion, up 94% from $18.12 billion a year ago. Nvidia earned $19.31 billion in the quarter, more than double the $9.24 billion it posted in last year’s third quarter.
Nvidia’s invention of graphics processor chips, or GPUs, in 1999 helped spark the growth of the PC gaming market and redefined computer graphics. Unlike Intel, Nvidia designs but doesn’t manufacture its own chips, relying heavily on Taiwan Semiconductor Manufacturing Co., an Intel rival.
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