Nvidia’s Surging Revenue in Third Quarter Driven by Singapore Sales
In a surprising revelation, Nvidia revealed that 15% of its third-quarter revenue, totaling $2.7 billion, came from Singapore. This represents a 404.1% increase from the previous year and makes Singapore the fourth-largest contributor to Nvidia’s sales, after the U.S., Taiwan, and China including Hong Kong.
Industry experts believe that the impressive revenue from Singapore is due to the country’s booming data center and cloud service provider industry, as well as its role in the assembly and distribution of tech products. This has been supported by analysts at Maybank Securities and Citi.
Additionally, the lifting of a moratorium on land use for data centers in Singapore in 2022 has further spurred growth in this sector. In fact, Singapore accounts for 60% of Southeast Asia’s total data center capacity and is ranked third globally and first in the Asia-Pacific region for data center market rankings.
The surge in demand for data centers in Singapore can be attributed to the increasing digitalization and adoption of cutting-edge technologies like artificial intelligence, blockchain, online gaming, and e-commerce. The International Trade Administration and Cushman and Wakefield echo this sentiment, predicting continued high demand for data center space in Singapore.
Nvidia’s dominating performance in revenue gains in the third quarter has been, in large part, fueled by the flourishing tech sector in Singapore, making it a significant player in the global chip market.
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