Q3 2022 NVIDIA Corp Earnings Call

November 17, 2021

Based on current expectations. These are subject to a number of significant risks and uncertainties and our actual results may differ materially. For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in today's earnings release, our most recent forms 10-K, and 10-Q and the reports that we may file on form 8-K, with the Securities and Exchange Commission.

A discussion of factors that could affect our future financial results and business. Please refer to the disclosure in today's earnings release, our most recent forms 10-K, and 10-Q and the reports that we may file on form 8-K, with the Securities and Exchange Commission.

All our statements are made as of today November 17th, 2021, based on information currently available to us. Except as required by law, we assume no obligation to update any such statements. During this call, we will discuss non-GAAP financial measures. You can find a reconciliation of these non-GAAP financial measures to GAAP financial measures in our CFO commentary, which is posted on our website. With that, let me turn the call over to Colette.

Except as required by law, we assume no obligation to update any such statements.

During this call we will discuss non-GAAP financial measures you can find a reconciliation of these non-GAAP financial measures to GAAP financial measures in our CFO commentary, which is posted on our website with that let me turn the call over to collect.

Thanks, Simona. Q3 was an outstanding quarter with revenue of $7.1 billion and year on year growth of 50%. We set records for total revenue as well as for gaming, data center and professional visualization. Starting with gaming. Revenue of $3.2 billion was up 5% sequentially and up 42% from a year earlier. Demand was strong across the board, but we continue to increase desktop GPU supply, we believe channel inventories remain low. Not top GPUs also posted strong year on year growth led by increased demand for high-end RTX laptops.

Records for total revenue as well as for gaming datacenter and professional visualization.

Starting with gaming.

Revenue of $3 2 billion was up 5% sequentially and up 42% from a year earlier demand was strong across the board, but we continue to increase desktop GPU supply, we believe channel inventories remain low.

Not top Gpus also posted strong year on year growth led by increased demand for high end smartphones.

Nvidia RTX technology is driving our biggest upper refresh cycle with gamers and continues to expand our base of traders. RTX introduced ground, breaking real-time, Ray tracing and AI-enabled super reservation capabilities, which are getting adopted at an accelerating pace. More than 200 games and applications now support Nvidia RTX, including 125 with Nvidia DLSS. This quarter alone 45 new games shift [inaudible]. And then video reflects latencies, reducing technology is in top Esports titles, including [Valorant], Fortnite, Apex Legends and Overwatch. In addition, the reflex ecosystem continues to grow with reflex technology now integrated in almost 50 gaming peripherals.

Our gx introduced ground, breaking real time, Ray tracing and AI enabled super reservation capabilities, which are getting adopted in an accelerating pace.

More than 200 games and applications now supports Nvidia on TFS, including 125 with Nvidia DMR films. This quarter alone 45, new games shift will be a lesser.

And then video reflect latencies, reducing technology.

in top Esports titles, including [Valorant], Fortnite, Apex Legends and Overwatch. In addition, the reflex ecosystem continues to grow with reflex technology now integrated in almost 50 gaming peripherals.

Nvidia studio for creators keeps expanding. Last month at the FDA Adobe Max Creativity Conference, Adobe announced two powerful AI features for Adobe might room, and delight room classics accelerated by Nvidia RTX GPUs. In addition, several of our partners launched new studio systems, including Microsoft HP and Asus. We estimate that a quarter of our installed base has adopted RTX GPUs. Looking ahead, we expect continued upgrades as well as growth from Nvidia GeForce users given rapidly expanding our TX support and the growing popularity of gaming, e-sports, content creation and streaming.

In addition, several of our partners launched new studio systems, including Microsoft HP and issues.

We estimate that a quarter of our installed base has adopted Archie.

Looking ahead, we expect continued upgrades as well as growth from Nvidia GeForce users given rapidly expanding our TX support and the growing popularity of gaming, e-sports, content creation and streaming.

Our GPUs are capable of crypto mining, but we don't have visibility into how much this impacts our overall GPU demand. In Q3, nearly all of our anterior architecture gaming desktop GPU shipments were light cash rate to help to keep our supply teams. Crypto mining processor revenue was $105 million, which is included in our OEM and other. Our cloud gaming service GeForce now has two major achievements this quarter. First, electronic arts brought more of its fifth games to the server. And second, we announced a new GeForce now RPX 30, 80 membership to priced at less than $100 for six months. GeForce now the membership has more than doubled in the last year to over 14 million gamers that are screening content from 30 data centers and more than 80 countries.

In Q3, nearly all of our Empire architecture gaming desktop GPU shipments were light cash rate to helps to keep our supply teams.

Crypto mining processor revenue was $105 million, which is included in our OEM and other.

Our cloud gaming service <unk> now has two major achievements <unk> first electronic arts brought more of its fifth games to the civil.

And second we announced a new G Force now RPX 30, 80 membership to priced at less than $100 for six months.

<unk> now membership has more than doubled in the last year to over 14 million gamers that are screening content from 30 data centers and more than 80 countries.

Moving to pro visualization. Q3 revenue of $577 million was up 11% sequentially and up 144% from the year-ago quarter. The sequential rise was led by mobile workstations with desktop workstations also growing. As enterprises deployed systems to support hybrid work environments. Building on the strong initial ramp in Q2 and pure architecture sales continue to grow. Leading verticals, including media and entertainment, healthcare, public sector and automotive.

Q3 revenue of $577 million was up 11% sequentially and up 144% from the year ago quarter.

The sequential rise was led by mobile workstations with desktop workstations also grown as enterprises deployed systems to support hybrid work environments.

Building on the strong initial ramp in Q2 and pure architecture sales continue to grow.

Leading verticals, including media and entertainment healthcare public sector and automotive.

Last week, we announced general availability of Omniverse enterprise, an AI platform for simulating physically accurate 3D world and digital trends. Initial market reception to Omniverse has been incredible. Professionals at over 700 companies are evaluating platform, including BMW, Ericsson, Lockheed Martin and Sony pictures. More than 70,000 individual traders have downloaded Omniverse since the open beta launch in December. There are approximately $40 million to redo designers in the global market.

Initial market reception to our new burst.

Incredible.

Professionals at over 700 companies are evaluating platform, including BMW Ericsson Lockheed Martin and some pictures more than 70000 individual traders have downloaded omni bonds since the open beta launch in December.

There are approximately $40 million to redo designers in the global market.

Moving to automotives. Q3 revenue of $135 million declined 11% sequentially and increased 8% from the year-ago quarter. The sequential decline was primarily driven by AI cockpit revenue, which is negatively impacted by automotive manufacturers supply constraints. We announced that self-driving trucks startup Kodiak robotics, Automaker, Lotus Autonomous bus manufacturers to craft, and EV startup Wm motive has adopted the Nvidia drive platform for their next-generation vehicles. They join a large and rapidly growing list of companies adopting and developing Nvidia drive including auto OEMs, tier-one suppliers, ABS trucking companies, Robo taxis and software startups.

Q3 revenue of $135 million declined 11% sequentially and increased 8% from the year ago quarter.

The sequential decline was primarily driven by AI cockpit revenue, which is negatively impacted by automotive manufacturers supply constraints.

We announced that self driving trucks startup Kodiak robotics.

Automaker.

Lotus Autonomous bus manufacturers to craft, an EV startup Wm motive has adopted the Nvidia drive platform for their next generation vehicles. They join a large and rapidly growing list of companies adopting and developing on a videotron Inc.

<unk> auto Oems tier one suppliers any DS trucking company Robo taxis and software startups.

Moving to datacenter. Record revenue of $2.9 billion grew 24% sequentially and 55% from the normal quarter with record revenue across both hyper scale and vertical industries. Strong growth was led by Hyperscale customers fueled by continued rapid adoption of camp here architecture tensor core GPUs for both internal and external workloads. Hyperscale compute revenue doubled year on year, driven by the scale-up of natural language processing and recommend data models and cloud computing. Vertical industry growth was also strong led by consumer Internet and broader cloud providers. For example, Oracle cloud-deployed Nvidia GPUs for its launch of AI services such as [tech] analysis, speech recognition, computer vision and anomaly detection.

Record revenue of $2 9 billion grew 24% sequentially and 55% from the normal quarter with record revenue across both hyperscale and vertical industry.

Strong growth was led by Hyperscale customers fueled by continued rapid adoption of camp here architecture tensor core Gpus for both internal and external workloads.

Hyperscale compute revenue doubled year on year, driven by the scale up of natural language processing and recommend data models and cloud computing.

Vertical industry growth was also strong led by consumer Internet and broader cloud providers for example, Oracle cloud deployed Nvidia Gpus for its launch of services such as <unk>.

Analysis speech recognition computer vision and anomaly detection.

We continue to achieve exceptional growth [and influence], which again outpaced our overall data center growth. We've transitioned our lineup of incidence focused processes to the Ampere arc sensors, such as the 830 GPU. We also released the latest version of our Titan inference server software, enabling compute-intensive inference workloads, such as large language model to scale across multiple GPUs and nodes with real-time performance. Over 25,000 companies worldwide use Nvidia AI influence. A great new example is Microsoft Teams, which is nearly 250 million monthly active users. It uses Nvidia AI to convert speech to text real-time during video calls in 28 languages.

We also released the latest version of our Titan inference server software, enabling compute intensive inference workloads, such as large language model.

Scale across multiple <unk>.

<unk> and nodes with real time performance.

Over 25000 companies worldwide.

Use Nvidia AI influence a great. New example is Microsoft teams, which is nearly 250 million monthly active users is uses Nvidia AI two converts each six months.

Real time during video calls in 28 languages and across the book to Bill.

We reached three milestones to help drive more mainstream enterprise adoption of Nvidia AI. First, we announced the general availability of Nvidia AI enterprise, a comprehensive software suite of AI tools and frameworks that enables the hundreds of thousands of companies running Nvidia, running D sphere to virtualize AI workloads on Nvidia certified systems. Second, VMware announced a future update to the school with can do that is fully optimized for Nvidia AI. This combined with Nvidia AI enterprise, enterprises can efficiently manage cloud native AI development and deployment on mainstream datacenter folders and files with existing IT tools.

First we announced the general availability of Nvidia AI enterprise, a comprehensive software suite of AI tools and frameworks that enables the hundreds of thousands of companies running Nvidia <unk>.

Running D sphere to virtualize AI workloads on Nvidia certified systems.

Second Vmware announced a future updates to the school with can do that is fully optimized for Nvidia a long winter.

This combined with Nvidia AI enterprise enterprises can efficiently manage cloud native AI development and deployment on mainstream datacenter folders and files with existing tools.

And thirdly, we expanded our launch program globally with Ethernet as our first digital infrastructure partner. Nvidia launchpad is now available in nine locations worldwide, providing enterprises with immediate actions to Nvidia software and infrastructure to help them prototype and test data SUNS and AI workloads. Launchpad features Nvidia certified systems, and Nvidia EGX systems running the entire Nvidia AI software style. In networking, revenue was impacted as demand outstrip supply, we saw momentum toward higher speed of new generation products, including connectx-5 and 6.

Pending our launch program globally with Ethernet as our first digital infrastructure partner Nvidia launched <unk> now available in nine locations worldwide, providing enterprises with immediate actions to Nvidia software and infrastructure to help them prototype and test data SUNS and <unk>.

Workloads.

Launchpad features Nvidia certified systems, and Nvidia <unk> systems running the entire Nvidia on software and stuff.

In networking revenue was impacted as demand outstrip supply, we saw momentum toward higher speed of new generation products, including connect X five instead.

Now the Nvidia quantum Q 400 gigabit per second end to end networking platform. Consisting of the quantum 2 switch to connectx-7 network adaptor and the [inaudible]. The Nvidia quantum 2 switch which is available from a wide range of leading infrastructure system vendors around the world. Earlier this week, our latest top 500 list of supercomputers showed continued momentum for our full-stack computing approach. Nvidia technologies accelerated over 70% of the systems on the list, including over 90% of all new systems and 23 of the top 25, most energy-efficient systems.

Consisting of the quantum to switch.

<unk> seven network, the Doctor and the Blue Shield.

The.

Nvidia quantum two <unk>, which is available from a wide range of leading infrastructure system vendors around the world.

Earlier this week.

Our latest top 500 list of supercomputers showed continued momentum for our full stack computing approach and video technologies accelerated over 70% of the systems on the list, including over 90% of all new systems and <unk>.

<unk> of the top 25, most energy efficient systems.

Turning to GTC. Last week, we hosted our GPU technology conference, which had over 270,000 registered attendees. [Jense's keynote] has been viewed 25 million times over the past eight days. While our spring GTC focused on new chips and systems, distribution focused on software, demonstrating our full computing stack. Let me cover some of the highlights. Our vision for Omniverse came to life at GTC, we significantly expanded its ecosystem and announced new capabilities.

Last week, we hosted our GPU technology conference, which had over 270000 registered attendees.

<unk> chemo has been viewed 25 million tons over the past eight days.

While our spring GTC focused on new chips and systems distribution focused on smartphone demonstrating our full continuum Scott let me cover some of the highlights.

Our vision for omni dollars came to life at GTC, we significantly expanded its ecosystem and announced new capabilities.

Omniverse Replicator is an engine for producing data to train robots replicating augments real-world data with massive diverse and physically accurate synthetic datasets to both accelerate development of high-quality high performance AI across competing demands. Nvidia Omniverse avatar is our platform for generating interactive AI avatars. It connects several core Nvidia SDK, including speech AI, computer vision, natural language understanding, recommendation engine and simulation. Applications, including automated customer service, virtual collaboration and content finishing. Replicator and average phone joined several other announced features and capabilities for Omniverse, including AI, AR, VR and simulation-based technologies.

Across competing demands.

Nvidia omnivorous avatar is our platform for generating <unk>.

Interactive AI province models is.

Connects several core Nvidia SDK, including speech AI computer vision natural language understanding recommendation engine and simulation.

Applications, including automated customer service virtual collaboration and content, finishing.

Replicator and average phone joined several other announced features and capabilities for our members including AI.

BR and simulation based technologies.

We introduced 65 new and updated software development kits, bringing our total to more than 150, serving industries from gaming and design to AI, cyber security, 5G and robotics. One of the SDK is our first four license AI model, Nvidia Riva for building conversational AI applications. Companies, use Riva during the open beta include room Central for video conference like captioning [inaudible]. Nvidia Riva enterprise will be commercially available early next year the large teams. We introduced Nvidia Nemo Megatron framework optimized for training large language models on and video TGF superfamily infrastructure. This combination brings together production-ready, enterprise-grade hardware and software to help vertical industries develop language. Industry-specific checkbox personal systems content generation and some recession. Early adopters include CD, JV dot com and benzene.

One of the SDK is our first four license AI model.

In video repo for building conversational AI applications.

Companies, usually rebound during the open beta include room Central for video conference like <unk> and <unk> for customer service platform.

And video Zebra enterprise will be commercially available early next year the large teams.

We introduced and videos Nemo Megatron framework optimized for training large language models on and video TGF superfamily infrastructure. This combination brings together production ready enterprise grade hardware and software to help vertical industries develop language.

Industry specific checkbox personal systems content generation and some recession.

Early adopters include CD, JV dot com and benzene.

We unveiled Bluefield [DOCA], 1.2, the latest version of our GPU programming later. With new cyber security capability, [DOCA] is to our DCUs as CUDA is to our GPUs. It enables developers to build applications and services on top of our Lucille GPUs. Our new capabilities make Bluefield the ideal platform for the industry to build their own zero trust security platforms. The leading cyber security companies are working with us to provision the next generation firewall service on Bluefield, including [inaudible]. And we've released Clara Hello scale, an edge AI computing platform for medical instruments to improve decision making tools in areas such as Robo assistant surgeries, interventional radiology and radiation therapy [planning].

With new cyber security capability Docker is to our Gpus as cuda is to <unk> yields.

It enables developers to build applications and services on top of our Lucille Gpus.

Our new capabilities make bluefield, the ideal platform for the industry to build their own zero Trust security platforms.

The leading cyber security companies are working with us to provision the next generation firewall service on Bluefield, including checkpoint Juniper was net.

Si Palo Alto networks and beyond them.

And we've released Clara.

Hello scale.

Edge AI computing platform for medical.

Instruments to improve decision, making tools in areas such as Robo assistant surgery.

Intervention radiology and radiation therapy platform.

Other new or expanded SDKs libraries unveiled at GTC include react for AI optimized logistics to function for quantum computing. Morpheus for cyber security. Modulus for physical face machine learning and crew net numeric a datacenter scale now largely to bring accelerated computing to the large and growing iPhone ecosystem. All in videos computing platform continues to expand as a broadening set of SDK enabled more and more GPU accelerated applications and industry use cases. CUDA has been downloaded 30 million tons and our developer ecosystem is now nearing 3 million strong.

Re opt for AI optimized statistics to function for quantum computing.

Morpheus for cyber security.

Modulus for physical face machine learning and crew net numeric a datacenter scale now largely to bring accelerated computing to the large and growing iPhone ecosystem.

All in and videos computing platform continues to expand as a broadening set of SDK enabled more and more GPU accelerated applications and industry use cases.

<unk> has been downloaded 30 million tons and our developer ecosystem is now nearing 3 million strong.

The applications they develop on top of our SDK on the cloud to edge computing platform are helping to transform multi-trillion dollar industries from healthcare to transportation to manufacturing, logistics and retail. In automotive, we announced Nvidia DRIVE Concierge, and DRIVE Chauffer. AI software platform in Dublin enhance the vehicles performance features and safety. Midcon shares built on Omniverse avatar functions as an AI based in vehicle personal assistant, but enables automatic parking summoning capabilities. It also enhance safety by monitoring of driver throughout the duration before. Drive chauffeur offers a timeless capability, relieving the driver of constantly having to control the car.

Such a services manufacturing logistics and retail.

In automotive, we announced Nvidia drive home Church, and Dwight short term AI software platform in Dublin.

Hands of vehicles performance features and safety.

Midcon shares built on omni versus avatar.

Functions as an AI based in vehicle personal assistant, but enables automatic parking summoning capabilities. It also enhance safety by monitoring of driver throughout the duration before.

Drive chauffeur offers a timeless capability, we're leaving the driver are constantly having to control the car.

It will also perform address to address driving when combined with [inaudible] platform. For robotics, we announce Jetson AGX the world's smallest most powerful and energy-efficient AI supercomputer for robotics, autonomous machines and embedded computing at the edge. [inaudible] Ampere architecture, Jetson AGX Forum provides 6X the processing power of its predecessor and it's 200 trillion operations per something similar to a GPU enabled server that fits into the palm of your hand.

For robotics, we announce Justin a J a gtx Lauren the world's smallest most powerful an energy efficient AI supercomputer for robotics autonomous machines and embedded computing at the edge.

Ill turn are Emptier architecture, Jetson Ags Forum provides six X the processing.

Put a shuttle and delivered 200 trillion operations per something similar to a GPU enabled server.

Fits into the palm of your home.

Jetson AGX will be available in the first quarter of the calendar 2022. Finally, we revealed plans to build Earth-2 the world's most powerful AI supercomputer dedicated to confronting climate change. The system would be the climate change counterpart to Cambridge 1 the Uk's most powerful supercomputer that we built for healthcare. Research Earth to harnesses all the technologies we have embedded invented up to this moment.

Under our 220 P M.

Finally, we revealed plans to build earth to the world's most powerful AI supercomputer dedicated to confronting climate change the system would be the climate change counterpart to Cambridge, one of Uk's, most powerful supercomputer that we built for healthcare.

Research Earth to harnesses all the technologies, we have embedded invented up to this moment.

Let me discuss farm. I'll provide you a brief update on our proposed acquisition of ALM arm with Nvidia is a great opportunity for the industry and customers. Which nvidia is scale capabilities and robust understanding of datacenter computing acceleration in AI, we can assist arm and expanding their reach into datacenter Iot Npcs and advance <unk> IP for decades to come the combination of our companies can enhance competition. Tissue in the industry as we work together on further building the world doing wrong. Regulators at the U S. S. <unk> have expressed concerns regarding the transaction. When we are engaged in discussions with them regarding revenues to address those concerns.

I'll provide you a brief update on our proposed acquisition of ALM arm with Nvidia is a great opportunity for the industry and customers.

Which nvidia is scale capabilities and robust understanding of datacenter computing acceleration in AI, we can assist arm and expanding their reach into datacenter Iot Npcs and advance <unk> IP for decades to come the combination of our companies can enhance competition.

Tissue in the industry as we work together on further building the world doing wrong.

Regulators at the U S. S. <unk> have expressed concerns regarding the transaction. When we are engaged in discussions with them regarding revenues to address those concerns.

The transaction has been under review by China Antitrust authority hunting, the former case initiation. Regulators in the UK and the EU has declined. Production in phase one of the reviews on competition concerns in the U K. We have also won national security concerns we have begun the phase III process in the EU and UK jurisdictions.

Regulators in the UK and the EU has declined. Production in phase one of the reviews on competition concerns in the U K. We have also won national security concerns we have begun the phase III process in the EU and UK jurisdictions.

Production in phase one of the reviews on competition concerns in the U K. We have also won national security concerns we have begun the phase III process in the EU and UK jurisdictions.

Despite these concerns and those raised some arm licensees, we continue to believe in the merits and the benefits of the acquisition too. The acquisition two arm to licensees and the industry. We believe these concerns and those raised by some arm licensees.

The acquisition two arm to licensees and the industry.

We believe these concerns and those raised by some arm licensees.

We continue to believe in the merits and benefit.

Of the <unk> acquisition.

Moving to the rest of the P&L.

GAAP gross margin for the third quarter was up 260 basis points from a year earlier, primarily due to higher end mix within desktop notebook <unk> Cpus to year on year increase also benefited from a reduced impact of acquisition related costs.

GAAP gross margin was up 40 basis points sequentially driven by growth in our datacenter bounce here architecture products, which was particularly offset by mix and Damian non.

Non gaming gross margin was up 150 basis points from a year earlier and up 30 basis points sequentially.

Q3, GAAP EPS was <unk> 97.

83% from a year earlier non-GAAP EPS was $1 17 up 60% from a year ago adjusting for our stock.

Q3 cash flow from operations was $1 5 billion.

Up from $1 3 billion, a year earlier and down from $2 7 billion in the quarter.

The year on year increase primarily reflects higher operating income, particularly offset by prepayments for long term supply agreements.

Let me turn to the outlook for the fourth quarter of fiscal 2022. We expect sequential growth to be. To be driven by datacenter and gaming more than offsetting a decline in CMP. Revenue is expected to be $7 4 billion, plus or minus 2% GAAP and non-GAAP gross margins are expected to be 65, 3% and 67%, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately 2.02 billion and $1 43 billion respectively. GAAP and non-GAAP other income and expenses are both expected to be an expense of approximately $60 million, excluding gains and losses on loan facility. Yes.

We expect sequential growth to be.

To be driven by datacenter and gaming more than offsetting a decline in CMP.

Revenue is expected to be $7 4 billion, plus or minus 2% GAAP and non-GAAP gross margins are expected to be 65, 3% and 67%, respectively, plus or minus 50 basis points.

GAAP and non-GAAP operating expenses are expected to be approximately 2.02 billion and $1 43 billion respectively.

GAAP and non-GAAP other income and expenses are both expected to be an expense of approximately $60 million, excluding gains and losses on loan facility.

Yes.

GAAP and non-GAAP tax rates are both expected to be 11% plus or minus 1%. Excluding discrete items capital expenditures are expected to be approximately 250 million to 275 minimum.

Further financial details are included in the CFO commentary. Other information is also available on our website.

In closing, let me highlight upcoming events for the financial community, we will be attending the credit Suisse 25th annual Technology Conference in person on November 30, we will also be at the Wells Fargo fifth annual TMT somewhat virtually on December <unk>.

UBS Global TMT virtual conference on December six.

The Deutsche Bank Virtual Auto Tech conference on December nine.

Our earnings call to discuss our fourth quarter and fiscal year 'twenty. Two results is scheduled for Wednesday February 16.

With that we will now open the call for questions. Operator will you. Please pull for these platforms.

At this time I would like to remind everyone in order to ask a question press star one on your telephone keypad. Now we'll pause for just a moment to compile the Q&A roster. For our first question, you have Aaron Rakers from Wells Fargo. Your line's open.

For our first question, you have Aaron Rakers from Wells Fargo. Your line's open.

Yes, thanks for taking the question and congratulations on the results. I guess I wanted to ask about Omniverse obviously a lot of excitement around that. The simple question is Jensen, how do you define success in Omniverse as we look out over the next 12 months?

I guess I wanted to ask about omni versus obviously a lot of excitement around that.

The simple question is Joseph how do you define success in omni versus as we look out over the next let's call. It 12 months.

And how do we think about the subscription license opportunity for Omniverse? I know you've talked about $40 million totaled 3D designers I think that actually doubled what you talked about back in August. So I'm just curious of how we are financially unless you start to think about that opportunity materializing. Yes. Omnivores discussed will be defined by

Yes.

Omnivores discussed will be defined by.

number one, developer engagement, connections through developers around the world. Two, applications being developed by enterprises. Three, the connections designers and creators among themselves. Those are the nearest term. And I would say that in months type of definition of success. Near term also should be revenues. And Omniverse has real immediate applications to drive demonstrated. [inaudible]. One of them, of course is that it serves as a way to commute.

On connections through developers around the world too.

Applications.

<unk> developed an input prices.

Three.

The next June.

Designers and creators.

Among themselves.

Those are the nearest term.

There is term.

And I would say that in months.

Type of Piper from our definition of success.

Near term also should be revenues.

Our universe.

<unk> has a real need.

Immediate applications to drive demonstrated.

Kind of the legacy nodes.

Highlight a few of them right now one of them of course is that it.

It serves as a way to commute.

In digital design world weaker due to the Adobe as a world.

Due to the Autodesk because of world compared with revenues of World.

These are these are design world Houston.

Some people do increasingly recruiting season and has its own database.

So we've made it possible for us to be commensurate with our brokers and <unk>.

For it to be.

Sure Mike.

Cloud documents.

That's not been possible over before you can narrow secure work with each other you could see all this work you could collaborate.

So in the world of remote working.

Under versus the versus collaboration capabilities going to be really appreciated and that should happen right away.

We'd like to see the happiness.

In very near term.

And that drives that drives them.

Of course, more PC sales more GPU sales more workstation sales.

More services.

The second use case is our digital twins. You saw examples of how several companies are using Omniverse to create a digital twin of the city so that they could optimize radio placements and radio energy used four used to be in performance. You saw BMW using for their factories. We see people using improved warehouse and logistics warehouse to plan and to optimize their warehouses to claim the robots.

Our digital twins.

Nishu.

You saw examples of how.

Several companies groups and we'll be using <unk> to create a digital twin of the city so that they could optimize.

Radio radio placements.

Radio energy.

We used four used to be in performance.

You saw BMW using four factories.

We see people using improved warehouse and logistics warehouse.

To plan and to optimize.

Warehouses to claim the robots.

And so digital twins.

Implications are absolutely needed.

And then remember.

Remember Walmart says.

Civil claims.

There is a physical robots, where you source.

Physical robot would be a self driving car.

A physical remarks could be.

The card itself, Tony referred to our remarks.

So that it could be an intelligence assist.

Our system.

But I find demonstrated probably good.

The more information the largest application of robots in the future with avatars.

We are.

Built on the virtual avatars to make it easy for people to immediately some amazing technology with.

With computer vision and speech recognition natural language understanding gesture recognition.

And his team.

Speech synthesis recommends to assumes all of that integrated into <unk>.

Into one system.

And running in real time.

Doug Avatar system as essentially a robotics system into whether you would do for us.

For example.

With 25 million or so retail stores and restaurants.

Places like airports.

<unk> patients.

For office buildings, and such where Youre going to have intelligent avatars doing a lot of the systems that you might be doing check out they might be doing there might be.

Reviewing our customer support.

Alright.

And all of that can be done with advertising industry.

Chemistry.

The virtual the virtual robotics.

Application.

Digital bonds with avatars.

It is going to be likely the largest robotics robotics opportunities. So if you look at our licensing model.

The way basically works is that <unk> each one of the new users new users and an end users could be one of the 20 million creators are $20 million and designers and over $40 million cruise and designers around the world.

When you scale on reverse right.

But each one of the many users with the $1000 per user per year.

But don't forget the.

Intelligent use or intelligent users that are going to be connected to our members.

We'll likely be much larger.

As digital box in humans, So I've mentioned 40 million, but there's 100 million cars.

And the new 100 million cars.

So we'll all have we'll all be.

We have the capability to have.

Something like an Ottoman Bruce Laboratory.

And so that $100 million cars could be $1000.

Per car per year.

And in the case of where 20 <unk> $25 million or so.

<unk> places.

You would have the digital avatars as customer support or check out smart retail smart warehouses from whatever it is.

Avatars.

Also with each individually be a named accounts and sort of the one.

$1000 for avatar per year.

And so.

Those are the immediate tangible.

Opportunities for us and demonstrates the application.

During the keynote.

And then and then of course behind all of that.

The.

Call. It a couple of hundred million dollars.

Digital agents intelligent, reaching some room in terms of <unk> some of them avatars.

$1000 per approved per agent per.

Per year.

Find it.

<unk>.

Our immediate threats and video Gpus in Pcs.

Video Gpus in the cloud.

And <unk> on the server.

Good.

Minus my guess would be the.

The hardware part of it is probably going to be about half the move the licensing part of the car D about half over time.

So this is this is really really going to be one of them.

The largest.

Graphics opportunities with EBIT proceed.

And the reason why why it's taking so long for this can manifest as because it requires three fundamental technologies become together with four fundamentals of mortgage compared to first of all as we get aggressive secondly, with acceleration because.

Because we're talking about things.

World.

It has to be believable. So it has to be the laws of physics, and then third is artificial intelligence or something.

So we're seeing just now and all of it runs on on top of the omnibus computer that has to do not just in <unk>.

Not just because the non tier computer graphics, but all of them.

So.

Long term people why people are so excited about it.

At the highest level, where the basically.

The long term.

Yes.

When we engage the internet, which has largely to do today.

Long term.

Every every query would be <unk>.

Instead of just.

<unk> information, we recruit and interact with people and avatars.

Yes.

Places in all of these things are in <unk>. So so so hopefully one of these days.

The new credit realize it as fast as we soon.

Every every transaction that goes into the union touches a GPU.

And today today, that's a very small percentage, but hopefully one of these days will be a very very high percentage.

I hope that's helpful.

Yeah.

For our next question, we have Mark <unk> from Jefferies. Mark Your line is open.

Hi. Thanks for taking my question. Jensen, it seems like every year, there seems to be a new set of demand drivers for your accelerated path. Accelerated processing. Sit down there's gaming than neural network, and AI and blockchain and the Ray tracing. And if the five or six years ago.

Jensen It seems like every year, there seems to be a new set of demand drivers for your accelerated path.

Accelerated processing.

Sit down there's gaming than neural network, and AI and blockchain and the Ray tracing.

And if the five or six years ago.

You guys showed a bunch of virtual reality demos, which are really exciting and at your analyst day excitement down died down that seems to be resurfacing, particularly with our diverse avatar capability at Facebook shining a light on opportunities. So the two questions from that are.

How close is your on the virus avatar.

Morphing into like a mass market technology.

Everybody uses daily.

If you talk about like you said that everybody is going to be a game or is everybody going to be used.

He is going to be omnivorous Avatar, you said and maybe maybe the bigger picture is.

Is it reasonable to think about a new.

Killer App coming out every year or is there a parallel that we should think about with.

With previous compete in markets that we can think about.

For the computing era that we're entering right now thank you.

I really appreciate that.

No.

Scripts are enablers.

But just don't create markets software creates market.

Okay.

I've explained I've explained.

Over the years that accelerated computing is very different than general purpose computing.

The reason for that is because you can't.

Right.

C compiler and compile.

Quantum physics into into Intuit's, yeah. It does.

You can't just compiled as goodyear's equation inherently distributed across multiple gpus multiple nodes in heavy duty truck.

You can't do that for computer graphics, you can't do that for artificial intelligence you can do that for robotics, you Couldnt do that.

For most of the interesting applications in the world.

And so because we really went out of steam with CPM.

People are saying theyre not because it's not true.

Abundantly clear.

The amount of instruction level parallelism that we can squeeze out of the system.

Although not zero is incredibly hard.

Incredibly hard and.

And.

And there's another approach.

We've been advocating accelerated computing for some funding and now people really see the benefit of it but it does require a lot of work.

We're basically says for every domain for every application and you have.

For every application and large demand that Julie.

To have a full staff.

And so whenever you want to open a new market by accelerating.

And those applications or the domain of application you have to come up with a new stock.

And the new stack is hard because you have to understand the obligations of the.

The algorithms the mathematics, you have to understand computer science to distributed across on to take something that was a single threaded and making multi threaded need something that works.

<unk> done.

Don.

Principally in making music concert from Carlyle.

You break everything great storage and networking.

Yes.

And so so it takes a fair amount of expertise and that's why we've seen.

Over the years over the course of 30 years, we see from a full company because we've been trying to solve this problem.

Practices regretted.

And so that's more what the benefit once you have that ability is and you can open new markets.

And.

We played a very large role in the monetizing artificial intelligence that will be impossible for anybody to be.

We're going to do it.

Our greatest contribution.

As I hope when it's all said and done.

We democratize.

Scientific computing, so that so that the researchers and scientists computer sciences.

Data Sciences funding Valkyrie.

We're able to get access to this incredibly powerful tool that we call computer.

To do.

Advanced research and so every single every single year, we're coming up with new stocks.

And we got a whole bunch of stars are working on and many of them working on site. So there you see a permanent as you start to connect it together.

One of the one of the areas.

We spoke about this time.

Of course was <unk>.

You saw the pieces of the rebuilt.

Overtime.

Typically took half a decade to start building on rivers.

It built on.

<unk> century of work.

In the case of the omnibus Avatar.

You could literally point to Maryland to recommend or Mega condo language language model.

<unk> the speech AI all of our computer vision.

<unk>.

That have been demonstrating over the years.

Yes.

Natural speech synthesis that you see every single year with IBM and like the opening credits how we're using.

Developing and AI to be able to speak in human way, so that people feel more comfortable and more engaged with the AI.

Phase II tracking.

<unk> and.

Almost all of these technologies all kind of came together.

All that being built in pieces from the integrated ERP intentions of ingredients to create what is called an avatar.

And I know you asked the question.

How quickly will we deploy those I believe on the bridge laboratory.

We'll be in drive throughs of restaurants fast food restaurants, checkouts of restaurants, and retail stores are all over the world within less than five years.

We're really legal in all kinds of different applications.

There is such a great shortage of labor and there's just such a wonderful way that you can now do.

Avatar.

I think it does.

It doesn't make mistakes and never gets tired.

We're done.

Most of that is cloud native.

And so when you saw that you saw the Cumulus I hope you'd agree.

The interaction with continues.

Yeah.

The conversation on a forum so enjoyable.

And.

And so anyway.

I think what you are what you, which you highlighted as Q1.

Accelerated computing is a full strength challenge to it takes software to open new markets.

<unk> opened new markets you build another typically you can steal somebody sure you can open a new market.

But it takes software.

And video ads, which was software.

Thats one of the reasons why we can recruit.

Large market opportunity.

And then lastly, with respect to <unk> I believe it's a near term opportunity, but with a 41% in Q4 five years.

For our next question, we have CJ Muse from Evercore ISI. Your line is open yeah. Good afternoon, and thank you for taking the question and I guess not.

Not at all my first question, but I guess Jensen I'd like your commitment that you will not use omni versus target the sell side research industry.

As my real question can you speak to your data center visibility into 2022 and beyond.

Within this outlook can you talk to traditional cloud versus industry verticals, and then perhaps emerging opportunities like <unk> and others would love to get a sense of.

Kind of what Youre seeing today and that is part of that you know how youre planning.

To secure foundry and other supply.

Yes.

To support that growth. Thank you.

Thank you Susan.

Hum.

First of all we have we have secured.

Guaranteed supply.

Very large amounts of it.

Quite quite a spectacular amount of it.

From the world's leading foundries.

Hum.

Got it.

Substrate in packaging and testing.

Testing companies.

The integral part of our supply chain.

So we are we.

We have done that and.

Feel very good about.

R R.

The supply situation, particularly starting in the second half of this year.

Going forward.

Right.

I think.

This whole last year was a wakeup call for for everybody to.

To be much more mindful about evolved from a merchant model, taking the supply chain for <unk>.

Granted.

We were fortunate to have such great partners.

Nonetheless, we've secured institute our future.

With respect to datacenter about half of our Hamburg.

The data center business comes from.

Cloud and cloud service providers and the other half comes from.

Enterprise mobile computing enterprise companies.

All in all kinds of industries.

And about 1% of it comes from Supercomputing centers, you can split sort of 50% or so cloud.

50% or so enterprise and 1%.

And anthem.

We expect what we expect next year, the cloud to cloud service providers.

Scale out.

Deep learning.

AI.

Workload really aggressively.

And we're seeing that right now.

We built we've built a really fantastic platform.

Number one number two.

The work, we've been doing with tensor RT, which has which is the one time that goes into the server that's called Triton.

It is one of our best pieces of work I'm, just so proud of it.

We said we said no.

Four years ago, three and half years ago, when steel prices can be one of the great confusion was challenged we really proven to be so and the reason for that is because frequently throughput sometimes with latency something.

And the type of models or is it new for instance, just over the mouth is not just computer vision where image recognition.

All over the map.

And and repricing of some slightly different different.

Types of architectures, which don't need different ways to build different applications.

And so the application publicly.

And in front of me Susan.

This is a wonderful people working.

We're now on our eighth generation on that.

Adopted all over the World from 25000 companies are now using Nvidia, Illinois and.

And recently at GTC, we announced two very very soon.

One one we reminded everybody that.

Just six months before we have an <unk>.

<unk> supports not just in every generation of Nvidia Gpus of which there are so many versions could be margin without trading how would you possibly.

Deploy.

Across the entire fleet within video servers, and Vega GPU servers that are all over the world and so it's almost it's almost an essential tool.

Operator, we can take advantage of all of the video Gpus.

Davidson.

We.

We support Cpus and so it's no longer necessary for someone to have two <unk> servers. We can just have one improves because DMD aversion is already a central now everybody could just be frightened and every at every single server in the datacenter could be could be part of the.

Capacity in there.

We did something that was a really big deal as you can see which is which we called force do free library call, Phil, but basically the most popular machine learning.

This was an interim models are based on <unk>.

<unk>.

And boosted great interesting.

And people want to know what is next to Bruce.

When it's used all over the place and.

Fraud detection recommended with firms.

Utilize the companies all over the world.

It's just it's self explanatory you can build upon.

Even with a refreshing to see field.

We're going into the season and we are.

This GTC, we announced that we support is not as well until all of the sum of all of that workload that runs on Cpus not only do they run on.

On trade it becomes accelerated in March.

The next Pwc and <unk>.

With.

Tremendous interest in margin language model.

Triton now also supports multi GPU and multimode <unk>, so that we could pay something like an <unk> <unk> three.

Nvidia Megatron.

<unk> hundred 30 beauty or anybody giant model, that's being developed all over the world and all these different languages and all these different demand in all these different.

Yields as volumes in <unk>.

Industry, we can now increases in real time.

And our demonstrated one of the determinants.

For the <unk>.

Built in.

We'll be able to see basically answer your questions and your time.

And so that is just a giant breakthrough.

But these are the type of workload.

That's going to make it possible for us to continue to scale out and datacenter.

So back to your original question I think next year will be quite a good year for for data centers.

<unk>.

Customers are very mindful.

Securing their supplies for their scale out.

So so.

Fair amount of visibility.

More visibility even than.

Data centers.

But in addition to the training and adoption everywhere and then and then finally.

Our brand new workload, which is built on top of AI and for athletes.

Emulation is unlevered and you saw the union.

Examples of these are these are.

Real companies doing real work.

And.

And one of the areas.

That is.

The severe shortages.

Around the world as customer support just genuine severe shortages all over the world.

And so on.

The answer is omnibus avatar.

And from Islamist.

It runs in datacenter.

And further adapt our universe avatar to do.

On slide fees or retail checkout or customer service loans demonstrates the Tokyo.

Parking kiosks, you could use it for Impella operated.

Consumer service, we've demonstrated that we can see.

The industry and how you could use it for video conferencing.

And then lastly, we demonstrated how we could use on the verge of avatar for robotics.

For example to create a considers where we can drive confused because <unk> told you before.

One of your customer support until we can measure.

The omnibus avid card.

He is going to be.

A really exciting driver for enterprises in the queue.

And same with <unk>.

With senior for.

Pretty pretty Swift refrigerated.

For our next question he has Stacy Raskin from Bernstein Research Stacy Your line is open.

Hi, guys. Thanks for taking my questions I wanted.

To ask us to work them on datacenter, both near term and then maybe a little longer term on the near term collect.

You suggested guidance into Q4 will be driven by data center and gaming you mentioned datacenter first does that mean that a bigger I. If you could just help us parse.

The contribution of each of us into Q4, and then in the next year.

Given the commentary for the last question.

Again, it sounds like you've got a very strong outlook for datacenter, both from Hyperscale and enterprise.

If I look at sort of the implied guidance. We gave our datacenter for you is probably likely to grow 50% year over year in this fiscal year would it be crazy to think given all of those drivers that it could grow by a similar amount with next year as well.

How should I be thinking about that given given all of the.

All of the drivers that you've been laying out.

Okay. Thanks.

Thanks, Jason for the question, let's first.

Focus in terms of our guidance for Q4, our statements that we made.

Ah, yes about driven by revenue growth from datacenter and gaming sequentially, you can probably expect our datacenter to grow faster.

Faster than our gaming probably Boston trains.

Percentage wise.

Dollars.

We also expect RCM.

Not to decline quarter on quarter to very negligible levels.

Q4, so I hope that gives you a color on Q4 now in terms of next year.

<unk> certainly turned the corner into the new fiscal year.

We certainly can provide guidance one quarter out.

We've given some great discussion here about the opportunities in front of us opportunities with the hyperscale opportunities with the verticals on reserves.

Is a full stop opportunity.

None of us are.

We are securing supply.

For next year, not just for the current year in Q4.

To allow us to really grow into.

So much of this opportunity going forward.

But at this time, we're going to wait until next year to provide guidance.

Got it that's helpful. I appreciate it thank you.

The next question, we have feedback Arya from broker to Tracy David Your line is open.

Thanks for taking my question actually I had two quick ones.

So glad to see you.

Suggested the inventory purchase and supply agreements are up I think almost 68% year on year does that provide some directional correlation with how youre preparing for growth over the next 12 to 24 months.

So that's one question.

Then the bigger question Jensen that I have for you is where RV, indeed, AI adoption cycle.

What percentage of servers are accelerated and hyperscale vertical industry today.

They're kind of ratios that get to.

Thanks for the question. So, let's first start in terms of supply or our supply purchase agreement.

Have noted that we are discussing that we have made payments towards some of those come out that not only are re procuring score what we need in the quarter, what we need next year and again, we are planning for growth next year. So we have been planning.

That supply purchases. We are also doing long term supply purchases.

There are areas.

Capacity agreements and or many of our different suppliers.

We made a payment within this quarter of approximately $1 6 billion of total long term capacity impairments of about three point.

$4 billion. So we still have more payments to make and we will likely continue to be purchasing longer term.

To support our growth.

While planning for many years to come.

Every single server.

We will be GPU accelerated someday.

Today.

Of all the clouds and all of the enterprise.

Less than 10%.

That kind of gives you a sense of where you are.

In terms of the workloads. It is also consistent with that in the sense that you got a lot of the workloads.

Only run on Cpus.

Which is the reason why in.

In order for us to grow we have to be a force that company and we have to go.

Find applications deployment Formula Alright.

Focus on application.

This quarter acceleration or benefits tremendously from acceleration better.

They want to get a.

Millions at speed up which would challenging thing, but it's not mathematically I think I can prove it to you and historically I think you can demonstrate to you.

The.

Many many areas we have seen millionaire speedup and it has completely revolutionize this industry.

Peter graphics is of course, one of them on diverse would not be possible without them.

And so.

The work that we're doing with <unk>.

Digital biology protein synthesis, which is likely going to be one of the large industries of the world that doesn't exist today at all.

<unk> engineering.

And with protein economy is likely going to be very very large you can't do that unless you are.

<unk> able to get the millionaire speedup in simulation approaching 10 months.

So.

But those are not to mentioned not to mention them.

Some of the most imperative comes in we have to go and engage quantifying needs.

Needs a million or billion spinoff.

We're going to we are.

At a point, where we can actually tackle that and so in each one of these cases, we have to fund.

We have to focus our resources to grow.

Accelerators applications.

And that translates to growth until then we're willing to do.

Hum.

If you look at Walmart for today's speech synthesis and speech recognition system.

<unk> uses a fairly traditional were mixture of traditional.

Deep learning approaches for four CJR and videos with Veeva is the world's first my belief that it ends in deep neural network.

And we've worked with with.

Many companies in helping them advance their so that they could they could move their clouds too.

Two our neuro based approaches.

But that's one of the reasons why we do it so that we could we can provide as a reference but we can also licenses to enterprises around the world. So that they could adaptive for their own use cases.

And.

And so one.

One application after another we have to do it.

Got it.

Accelerated one domain after a multi vitamin facilities what is one of the ones that are very excited about.

Something that we've been working on for so long with UBS.

Even our own industry.

Electronic design automation for.

For the very first time, we announced the EDA using.

Using computer software and computing, whether it is because of the artificial intelligence capability because EMEA is in.

Very large come in the store optimization program.

And.

And using artificial intelligence you can do it really improves the design quality and on time.

So we're seeing from all the major engage vendors.

From chip design to simulation to.

PCB design and optimization designing synthesis.

Moving towards artificial intelligence and the GPU acceleration in a very significant way and then we see that with <unk>.

Mechanical mechanical CAD.

And.

Traditional 10 application now also.

Jumping on to GPU acceleration and getting very significant speed ups and so on.

I'm Super excited about about the work that we're doing in each one of these domains. Because every time you do it you opened up brand new market.

The customers that never never used <unk> Gpus.

<unk> opinion, because because ultimately people don't buy.

Trying to solve problems.

And without a full SaaS without softwood fatigue.

You can't really commencing enabling technologies with the chip Goodbye.

And ultimately solving for smartphone.

Your final question comes from the line of Timothy Arcuri from UBS. Your line is open.

Thanks, a lot.

A question about gross margin.

Are there any margin headwinds maybe on the wafer pricing side that we should sort of think about normal rising out.

Because gross margin is pretty flat between fiscal Q4 to fiscal Q.

Sorry, but hey fiscal Q2, and fiscal Q4, but I imagine that's kind of masking a.

Strong underlying margin growth.

Especially as data centers, but actually driving that growth. So I'm wondering if maybe there are some underlying factors that are sort of gating gross margin. Thanks.

Yes, so we have always been working on our gross margin and being able to absorb a lot of the cost changes along the way architecture to architecture near to year. So that's always baked in to our gross margin. Our gross margins right now are largely stable our incremental revenue.

For example of what we're expecting next quarter.

Mike.

Aligned to our current gross margin levels that we finished in terms of trade.

Our largest driver always continues to be mix.

We have a lot of different client mix that has arisen related to high end.

RPX solutions for example.

And the software that's embedded in solutions.

Have allowed us to increase that gross margin as we look forward long term software is sold separately can be another driver.

Margin increases in future.

But cost changes cost increases are generally been a part of our gross margin for this.

Yeah.

Thank you I will now turn the call over back to Jason Lang for closing remarks.

Thank you.

We had an outstanding quarter.

Demand for Nvidia AI has gone with.

With Hyperscale and cloud services deploying our scale and enterprises broadening adoption, we now count more than 25000 companies that are using <unk>.

And with Nvidia AI enterprise software suites are.

Our collaboration with Vmware and.

In our collaboration with Equinix to place in video launch pads.

Across the World every enterprise has an easy on ramp to Nvidia AI.

Gaming improved as our surging.

For TX opportunity continues to expand with the growing market of gamers Cree.

Creators designers.

And now professionals building home workstations.

We are working hard to increase supply for the overwhelming demand this holiday season.

Last week.

GTC showcase.

And the universe of Nvidia accelerated computing.

In combination with AI and data center scale computing. The model. We pioneered is on the cusp of producing million ex freedoms.

That will revolutionize many important fields.

Already AI.

In upcoming robotics.

Digital biology.

And what I hope climate science.

GTC highlighted our full stack expertise in action.

Built on Cuda and all.

Our acceleration libraries in data processing.

Simulation graphics.

Artificial intelligence.

Market and domain specific software as needed to solve customer problems.

We also showed.

Oh software opens new growth opportunities for us.

But the chips or the neighbors, but it's the software that opens new growth opportunities.

And video has 150 SDK is no.

Addressing many of the worlds largest end markets.

One of the major themes of this GPC was omnibus or.

Our simulation platform.

For virtual worlds and digital twins.

Our body of work and expertise in graphics.

Physics simulation.

On robotics.

And full stack computing made omnivorous possible.

At GTC, we showed her omnivorous is used to reinvent collaborative design.

Customer service avatars and video conferencing.

And digital twins of factories.

Processing plants and even entire cities.

This is just the tip of the iceberg of what's to come.

We look forward to updating you on our progress next quarter. Thank you.

Okay.

Yeah.

Thank you I will now turn over to Ken centric banking remarks.

Well I think we just heard the closing remarks. Thank you so much for joining US we look forward to seeing everybody at the conferences that we had planned.

Over the next two months and I'm sure we'll talk before the end of next earnings. Thanks again everybody.

This concludes today's conference call. Thank you all for participating you may now disconnect.

Okay.

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Q3 2022 NVIDIA Corp Earnings Call

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