Nvidia CEO confirms to share new advances in RTX at GTC conference

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Nvidia has just announced its financial results for the second quarter of fiscal 2023 (ending on July 31, 2022), which is basically consistent with the expected performance mentioned in the previous performance warning announcement. Nvidia is facing a more serious inventory problem, and in the next fiscal quarter, it is expected that the revenue of the game business, one of the main sources of revenue, will continue to decline, making the total revenue in the fiscal quarter further decline to $5.9 billion.

Jensen Huang Lifetime Achievement Accolade

In the second quarter of the fiscal 2023 earnings conference call, Nvidia founder and CEO Mr. Jensen Huang had to explain how to reduce existing inventory and the progress of the next-generation Ada Lovelace architecture GPU.

“We are navigating our supply chain transitions in a challenging macro environment and we will get through this,” said Jensen Huang, founder, and CEO of NVIDIA.

Jensen Huang said that the GeForce RTX 30 series based on the Ampere architecture is the most popular GPU and will be very successful for a while. At present, Nvidia is trying to deal with the problem of excess inventory. One of the strategies is to reduce sales this quarter and the next quarter and let the channel inventory return to normal.

Nvidia will hold its GTC conference between the 19th and 22nd of next month, and the CEO keynote is scheduled for September 20th. “I look forward to next month’s GTC conference, where we will share new advances in RTX, as well as breakthroughs in AI and the metaverse, the next evolution of the internet. Join us,” he said.

Jensen Huang said that the fundamentals of the game business are still very strong, Nvidia will enter 2023 with a new GPU architecture, and more information will be shared at the GTC conference, including the latest developments in ray tracing, 3D graphics, and games.

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