Nvidia Secures top spot as most profitable semiconductor firm in Q3: PTI

Graphics chip giant Nvidia has emerged as the most profitable semiconductor company in the third quarter of this year, surpassing industry heavyweights Intel, Samsung, and Taiwan Semiconductor Manufacturing Company (TSMC), PTI reported.

According to financial results compiled by Taipei-based analyst Dan Nystedt, Nvidia's revenue for Q3 reached US$ 18.12 billion, with a remarkable profit of US$ 10.42 billion, marking a 206 percent year-over-year increase. The surge in profit is attributed to the dominance of AI chips for data centers in Nvidia's portfolio, stated PTI.

Nvidia could potentially secure the second-place position in full-year chip revenue for 2023, surpassing Intel and Samsung, while TSMC is expected to maintain its leading position in the industry, Nystedt posted on X, formerly known as Twitter, PTI said.

SamMobile first reported Nvidia's Q3 success.

In comparison, TSMC, the largest contract chip manufacturer globally, reported US$ 17.28 billion in revenue and US$ 7.21 billion in profit for the same quarter, while Intel's revenue was US$ 14.16 billion with a loss of US$ 8 million. Samsung Semiconductor, Samsung's chip design and manufacturing arm, recorded revenue of US$ 12.52 billion but reported losses amounting to US$ 2.86 billion, PTI noted.