Nvidia (NVDA), listed on Nasdaq, closed yesterday at $145.89, down 0.76 percent. On Thursday, November 21, NVDA trades at roughly $140.59 in the pre-market session, lower by 3.65%.

Nvidia reported a 35.1 billion revenue increase in Q3 2024, up 17% from the previous quarter and 94% from the previous year. Nvidia’s third-quarter results exceeded analysts’ expectations, however, the stock price declined in extended trading due to investors’ higher expectations.

The artificial intelligence (AI) chipmaker Nvidia will pay its next quarterly cash dividend of $0.01 per share on December 27, 2024, to all shareholders of record on December 5, 2024.

For the quarter, GAAP earnings per diluted share was $0.78, up 16% from the previous quarter and up 111% from a year ago. Non-GAAP earnings per diluted share was $0.81, up 19% from the previous quarter and up 103% from a year ago.

Nvidia revealed that cloud leaders in India, Japan and Indonesia are building AI infrastructure with Nvidia accelerated computing, while consulting leaders are helping speed AI adoption across industries with Nvidia AI Enterprise software.

“There is no alternative to Nvidia aside from newer Nvidia chips so they should continue to be the major of beneficiary of AI capex increasing rapidly. Nvidia is essentially a pure monopoly, and that’s continuing with their next generation Blackwell chips. Those won’t be in this quarter’s earnings, but they will start next quarters, and they’ll really be baked into the January quarter,” says David Miller, co-founder and Chief Investment Officer at Catalyst Funds.

Nvidia also announced that SoftBank Corp. is building Japan’s most powerful AI supercomputer with the Nvidia Blackwell platform and has successfully piloted the world’s first combined AI and 5G telecom network using Nvidia AI Aerial.

The AI leader also revealed that U.S. technology companies including Accenture, Deloitte and Google Cloud are tapping Nvidia AI software to create custom AI applications, transforming industries worldwide.

Nvidia also announced the expansion of a partnership with Lenovo to launch new hybrid AI solutions and systems optimized to run Nvidia AI Enterprise software.

Nvidia’s outlook for the fourth quarter of fiscal 2025

Revenue is expected to be $37.5 billion, plus or minus 2%.

GAAP and non-GAAP gross margins are expected to be 73.0% and 73.5%, respectively, plus or minus 50 basis points.

GAAP and non-GAAP operating expenses are expected to be approximately $4.8 billion and $3.4 billion, respectively.