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NVIDIA Revenue Composition Analysis (2021-2024)
Revenue by Reportable Segments (in billions USD)
| Segment | FY 2021 | FY 2022 | FY 2023 | FY 2024 | Description |
|---|---|---|---|---|---|
| Compute & Networking | $6.84 | $11.05 | $15.07 | $47.41 | Includes Data Center platforms and systems for AI, HPC, and accelerated computing; networking and interconnect solutions; automotive AI and autonomous driving solutions; and embedded platforms. |
| Graphics | $9.83 | $15.87 | $11.91 | $13.52 | Includes GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service, and related infrastructure; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU products; and automotive platforms for infotainment systems. |
| Total Revenue | $16.68 | $26.91 | $26.97 | $60.92 |
Revenue by Market Platform (in billions USD)
| Market Platform | FY 2021* | FY 2022 | FY 2023 | FY 2024 | Description |
|---|---|---|---|---|---|
| Data Center | N/A | $10.60 | $15.01 | $47.50 | Serves hyperscale and cloud customers with GPUs, networking, and software for AI, HPC, and accelerated computing workloads. |
| Gaming | N/A | $12.50 | $9.07 | $10.40 | Serves the gaming market with GeForce GPUs, cloud gaming services, and gaming-related software and services. |
| Professional Visualization | N/A | $2.10 | $1.54 | $1.60 | Serves professional designers and creators with Quadro/NVIDIA RTX GPUs, software, and related services. |
| Automotive | N/A | N/A | $0.90 | $1.10 | Serves the automotive industry with platforms for AI cockpit, autonomous driving development, and in-vehicle infotainment systems. |
*Note: Detailed market platform revenue breakdown for FY 2021 was not available in the annual reports.
Key Segment Descriptions
Compute & Networking
This segment has shown extraordinary growth, particularly from FY 2023 to FY 2024 with a 215% increase. It includes:
- Data Center platforms and systems for AI and high-performance computing
- Networking and interconnect solutions (including Mellanox products acquired in 2020)
- Automotive AI and autonomous driving development platforms
- Embedded platforms like Jetson for robotics and edge AI applications
The dramatic growth in FY 2024 was primarily driven by higher shipments of the NVIDIA Hopper GPU computing platform for training and inference of large language models (LLMs), recommendation engines, and generative AI applications, as well as higher shipments of InfiniBand networking products.
Graphics
This segment has experienced more variability, with strong growth in FY 2022, a decline in FY 2023, and moderate recovery in FY 2024. It includes:
- GeForce GPUs for gaming and PC graphics
- GeForce NOW game streaming service
- Quadro/NVIDIA RTX GPUs for professional visualization
- Virtual GPU products for virtualized workstations
- Automotive infotainment systems
The decline in FY 2023 was primarily due to lower sell-in to partners to help reduce channel inventory levels as global macro-economic conditions and COVID-19 related disruptions in China weighed on gaming demand.
Market Platform Highlights
Data Center
The Data Center platform has shown the most dramatic growth, particularly in FY 2024 with a 217% year-on-year increase. This growth has been driven by:
- Increased adoption of NVIDIA’s accelerated computing platforms for AI workloads
- Strong demand for NVIDIA Hopper architecture products
- Growth in networking products (InfiniBand)
- Increased investments by hyperscalers and cloud service providers in AI infrastructure
Gaming
Gaming revenue has been more volatile, with strong growth in FY 2022, a significant decline in FY 2023, and moderate recovery in FY 2024. This volatility has been influenced by:
- Product cycles and new GPU architecture launches
- Macroeconomic conditions affecting consumer spending
- Channel inventory management
- Competition in the gaming GPU market
Professional Visualization
Professional Visualization revenue grew significantly in FY 2022, declined in FY 2023, and stabilized in FY 2024. This segment has been affected by:
- Hybrid work environment adoption
- Economic conditions affecting enterprise spending
- Product refresh cycles
Automotive
The Automotive platform has shown consistent growth in recent years, with a 21% year-on-year increase in FY 2024. This growth reflects:
- Increased adoption of NVIDIA’s platforms for autonomous driving development
- Growth in AI cockpit solutions
- Expanding partnerships with automotive manufacturers and suppliers
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