NVIDIA Reports Q3 FY 2021 Revenue Growth of 57%; Jensen Huang Quoted

NVIDIA (Nasdaq: NVDA) reported $4.73B in revenue during the third quarter of fiscal year 2021, up 57 percent from the same period last year.

The company said Wednesday it paid $99M in quarterly cash dividends and saw its GAAP diluted earnings per share rise 46 percent to $2.12 in Q3 FY 2021, up from $1.45 a year earlier.

During the third quarter, NVIDIA agreed to buy U.K.-based semiconductor company Arm from SoftBank Group and SoftBank Vision Fund for approximately $40B as part of efforts to expand its artificial intelligence computing capabilities. The deal, which was announced in mid-September, is expected to be completed in the first quarter of calendar year 2022.

“We are positioning NVIDIA for the age of AI, when computing will extend from the cloud to trillions of devices,” Jensen Huang, founder and CEO of NVIDIA, said of the planned acquisition.

The company also introduced new AI capabilities during the third quarter, including its NVIDIA DGX Station A100 petascale workgroup server designed to handle data science and machine learning workloads.

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