On Nvidia’s Q2 earnings call, Chief Financial Officer Collete Kress says the company is hitting an “inflection point” with its automotive revenue. The chip maker is working with hundreds of partners across the auto industry (automakers, trucking companies, suppliers, startups, etc.) to build and execute self-driving technology. Mercedes-Benz will use Nvidia Drive AV to power its 2024 fleet, and in 2025, all newly released Jaguar/Land Rover vehicles will be using the platform. The SoC is already powering 25 electric vehicle makers building smart cars like Nio and Li Auto.įurthermore, Nvidia is working with top automakers to introduce its Drive Hyperion, an open autonomous vehicle (AV) platform. Nvidia’s Drive Orin is a system-on-a-chip (SoC) that acts as the central power in smart vehicles. Yet, Nvidia’s automotive business accelerated. In Nvidia’s fiscal Q2 2023 earnings, sales growth fell as economic conditions started to slow. So Nvidia sales swelled 52% in 2020, reaching $16.68 billion, and then another 61% in 2021 as computer chips were in high demand. The more online activity requires extra computing power.

In fact, Nvidia was one of the biggest winners during the pandemic as society moved digital.

Nvidia is best known for its state-of-the-art computer chips that power everything from gaming consoles to supercomputers and even crypto mining. However, a bright spot in the report was Nvidia’s automotive segment, fueled by rising demand for new energy vehicles. Chip-making giant Nvidia (NVDA) released its Q2 earnings report on Wednesday, falling short of Wall St expectations.

Nvda earnings 2022