Nvidia, Snowflake and BEN Ride AI Surge in Q3

Nvidia reported Q3 revenue of $35.1 billion, up 94% from last year with data center sales reaching $30.8 billion. Fellow tech firms showed mixed results, with Snowflake growing 29% to $900 million in revenue, while artificial intelligence (AI) startup BEN recorded $50,000 in its first significant quarterly sales amid mounting losses.

Nvidia’s Results Hit $35.1B on AI Surge

Nvidia reported third-quarter revenue of $35.1 billion, up 94% from a year ago and 17% from the previous quarter, as AI computing drives unprecedented chip demand.

The Santa Clara, California, semiconductor maker’s data center segment reached $30.8 billion in revenue, up 112% from last year and 17% from the previous quarter. This division now represents 88% of total revenue.

“The age of AI is in full steam, propelling a global shift to Nvidia computing,” CEO Jensen Huang said in the earnings release. “Demand for Hopper and anticipation for Blackwell — in full production — are incredible.”

Net income increased 109% to $19.3 billion, with earnings per share of $0.78, up 111% year over year. The company forecast fourth-quarter revenue of $37.5 billion, plus or minus 2%.

Gaming revenue grew 15% year over year to $3.3 billion, and automotive revenue reached $449 million, up 72% from last year.

The results cement Nvidia’s dominance in AI computing hardware as companies expand their AI infrastructure globally.

Snowflake Grows as Cloud Adoption Expands

Snowflake, which markets itself as “the AI Data Cloud company,” reported third-quarter product revenue of $900.3 million, up 29% from a year earlier, while forecasting slower growth ahead.

“Our obsessive drive to produce product cohesion and ease of use has built Snowflake into the easiest and most cost-effective enterprise data platform,” CEO Sridhar Ramaswamy said in a news release. 

The company’s remaining performance obligations, representing contracted future revenue, grew 55% to $5.7 billion. Snowflake expanded its base of large customers, now serving 542 organizations with trailing 12-month product revenue exceeding $1 million, up 25% year over year.

Snowflake raised $2.27 billion in September through convertible notes offerings due 2027 and 2029.

Looking ahead, the company expects fourth-quarter product revenue between $906 million and $911 million, indicating year-over-year growth of approximately 23%.

The company posted a net loss of $327.9 million for the quarter, compared with $214.7 million a year earlier.

BEN Reports Mixed Results

Brand Engagement Network, an AI solutions provider, reported its first significant quarterly revenue of $50,000 while recording wider losses as it expands its healthcare AI partnerships.

“We made significant progress in delivering secure, scalable AI solutions and advancing our mission to transform industries with intelligent technology,” said CEO Paul Chang in a news release.

The Wyoming company struck deals to deploy its AI assistants with KangarooHealth for remote patient monitoring and IntelliTek for healthcare operations. These partnerships aim to use BEN’s conversational AI technology to enhance patient engagement and chronic care management across multiple regions.

However, operating losses widened to $5.82 million from $2.58 million a year earlier, reflecting heavy investment in AI development and expansion. The company secured a $50 million equity purchase agreement with Yorkville Advisors to fund growth and plans to acquire German tech firm Cataneo for $19.5 million by year end.

The company’s aggressive push into healthcare AI marks its strategy to commercialize its conversational AI technology in high-value sectors despite cash reserves dropping to $72,878 from $1.69 million at the start of the year.

The post Nvidia, Snowflake and BEN Ride AI Surge in Q3 appeared first on PYMNTS.com.