03/09/2024 - Nvidia Corporation: NVIDIA Investor Presentation September 2024

Investor Presentation Q2 FY25

September 3, 2024

Except for the historical information contained herein, certain matters in this presentation including, but not limited to, statements as to: our financial position; our business plans; our markets, market opportunity, demand and growth drivers; supply for our products; our financial outlook; the benefits, impact, performance, features, and availability of our products and technologies; third parties adopting or using our products or technologies and the benefits and impact thereof; the benefits and impact of our collaborations or partnerships with third parties, and the features and availability of their offerings; our customers continuing to accelerate their Hopper architecture purchases while gearing up to adopt Blackwell; demand coming from frontier model makers, consumer internet services, and tens of thousands of companies building gen AI applications; sovereign AI revenue reaching low double-digit billions this year; every PC with RTX capable of delivering up to1,300 AI TOPS; game developers continuing to embrace NVIDIA ACE; RTX being set to revolutionize consumer experiences with gen AI; Blackwell being widely sampling; timing of Blackwell production ramp and shipment; demand and supply for Blackwell; Hopper shipment; GeForce NOW library continuing to expand; NVIDIA MGS modular reference architecture in over 100 Blackwell systems, providing computer manufacturers with a reference architecture to quickly and cost-effectively build Blackwell design configurations; NVIDIA Spectrum-X Ethernet networking platform gaining wide adoption; CoreWeave, GMO Internet Group, Lambda, Scaleway, STPX Global, and Yotta bringing extreme networking performance to their AI infrastructures; plans announcing the launch of new Spectrum-X products every year, delivering increased bandwidth, ports, enhanced software feature sets, and programmability to drive leading AI Ethernet networking performance; NIM enabling enterprises to maximize their infrastructure investments; technology partners integrating NIM into their platforms; enterprises being able to deploy AI applications in production with NIM through the NVIDIA AI Enterprise software platform; NVIDIA ACE generative AI microservices enabling the creation and operation of digital humans or generative AI avatars; the next wave of AI being physical AI or AI that understands the laws of physics and NVIDIA Omniverse and NVIDIA Isaac being key platforms driving this transition; NVIDIA's RTX AI PCs being set to revolutionize consumer experiences with generative AI; major advancements to OpenUSD expanding adoption of the universal 3D data interchange framework to robotics, industrial design and engineering, and accelerating developers' abilities to build highly accurate virtual worlds; availability of the world's first generative AI models for OpenUSD; the integration of OpenUSD pipelines; new AI microservices allowing roboticists to enhance simulation workflows for generative physical AI; enterprises being able to continually refine their AI applications based on user feedback with NIM Agent Blueprints, creating a data-driven AI flywheel are forward-looking statements.

These forward-looking statements and any other forward-looking statements that go beyond historical facts that are made in this presentation are subject to risks and uncertainties that may cause actual results to differ materially. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners' products; design, manufacturing or software defects; changes in consumer preferences and demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems and other factors.

NVIDIA has based these forward-looking statements largely on its current expectations and projections about future events and trends that it believes may affect its financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, and you should not rely upon the forward-looking statements as predictions of future events. The future events and trends discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Although NVIDIA believes that the expectations reflected in the forward-looking statements are reasonable, the company cannot guarantee that future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. Except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. For a complete discussion of factors that could materially affect our financial results and operations, please refer to the reports we file from time to time with the SEC, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Copies of reports we file with the SEC are posted on our website and are available from NVIDIA without charge.

Many of the products and features described herein remain in various stages and will be offered on a when-and-if-available basis. The statements within are not intended to be, and should not be interpreted as a commitment, promise, or legal obligation, and the development, release, and timing of any features or functionalities described for our products is subject to change and remains at the sole discretion of NVIDIA. NVIDIA will have no liability for failure to deliver or delay in the delivery of any of the products, features or functions set forth herein.

NVIDIA uses certain non-GAAP measures in this presentation including non-GAAP gross margin, non-GAAP operating income, non-GAAP net income, and non-GAAP diluted earnings per share. NVIDIA believes the presentation of its non-GAAP financial measures enhances investors' overall understanding of the company's historical financial performance. The presentation of the company's non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company's financial results prepared in accordance with GAAP, and the company's non-GAAP measures may be different from non- GAAP measures used by other companies. Further information relevant to the interpretation of non-GAAP financial measures, and reconciliations of these non-GAAP financial measures to the most comparable GAAP measures, may be found in the slide titled "Reconciliation of Non-GAAP to GAAP Financial Measures".

Q2 FY25

Earnings Summary