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Chip manufacturer Nvidia’s fourth-quarter revenue jumped 53% year-over-year to $7.65 billion, totaling $26.91 billion for the year.
The company’s gaming division reported record revenue for the quarter, a 37% year-over-year increase to $3.42 billion. Its fiscal gaming revenue ballooned 61% to $12.46 billion.
During the quarter, Nvidia made a number of investments in its gaming sector.
The chipmaker also announced collaborations with Samsung and AT&T, offering GeForce Now to the technology companies’ customers.
Nvidia’s data center and professional visualization divisions reached record revenue at $3.26 billion and $643 million — up 71% and 109% from the same period last year.
In 2020, Nvidia agreed to buy Softbank’s chip technology company Arm, which creates chips for the Nintendo Switch and other gaming devices, at a $40 billion valuation. Softbank called off the plans earlier this month following regulatory scrutiny in multiple countries — the Federal Trade Commission sued to block the deal.
Softbank purchased Arm in 2016 for $32 billion.
Rei do Pitaco, a daily fantasy sports platform, announced a $32 million Series A funding round led by investment manager D1 Capital Partners.
Apple, which recently unveiled a number of health and fitness products, is facing more competition from Meta on wearables, VR, and AR.
Tesla plans to be a new sponsor of Formula SAE teams, providing the electric racing teams with discounted hardware and free battery cells.
Apple, Amazon and other tech companies are competing over the growing wearables market. The segment could reach $114 billion by 2028.
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