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Nvidia Delays Chip Launch And Competitors Are Set To Challenge Its Dominance

Upwallstreet
November 27, 2023

Last week, Nvidia Corporation (NASDAQ:NVDA) reported staggering third-quarter results. Despite its reliance on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), Nvidia’s Data Center division drove this impressive growth, allowing the company to outshine its competitors, including TSMC, as well as Intel (NASDAQ:INTC), and Advanced Micro Devices, Inc. (NASDAQ:AMD). But, shares slumped upon news that Nvidia is delaying the launch of its new AI chip for China, touted as the most powerful one and one that complies with the latest U.S. chip export curbs. According to Reuters, launch has been rescheduled for the first quarter of 2024.

Third Quarter Results From Competitors

When comparing third quarter results, TSMC reported substantial revenues of $17.28 billion with profits of $ $6.69 billion. But, back in October, TSMC also reported its biggest profit drop in almost five years. TSMC reported also a revenue drop of 10.83% YoY but also that compared to the second quarter, revenue rose 13.7%.

However, Intel experienced a minor loss of $8 million with revenues amounting to $14.16 billion. Yet, this year was rewarding to Intel that was hit hard by the PC market downturn. Although PC sales were still down during the third quarter, Intel reported they dropped at a much slower pace. With its latest results, Intel showed it is on the road to recovery. 

Nvidia’s Third Quarter Results

For the quarter ended on October 29th, Nvidia reported revenue rose 206% YoY to $18.12 billion and profits of $9.24 billion. Operating income alone rose more than 1,600% with data center revenue reporting a revenue growth of 279% as revenue amounted to $14.51 billion.

Nvidia is undoubtedly leading the AI pack, enjoying its first mover advantage. According to data from Jon Peddie Research, Nvidia controlled87% of the GPU market in 2023’s second quarter. Until last year, Nvidia’s popularity revolved around PC gamers who used its GPUs to power their custom-built machines. But then AI came into the picture and changed the dynamics, sending Nvidia to unprecedented heights. Although competition is intensifying with rivals challenging its dominance with their own GPUs, Nvidia will also continue developing new and more powerful chips. It will likely continue to grow considering that companies will be needing more powerful chips to bring their existing products to a new level. During the reported quarter, Nvidia announced the GH200 GPU. But, the delayed launch shows that even the all-mighty leader is threatened by U.S. chip export restrictions. 

DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.

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