NVIDIA AI GPU Shipments to Hit 4M in 2024

NVIDIA's data center and AI GPU shipments are anticipated to reach nearly 4 million units in 2024, representing a significant growth milestone for the company. This impressive trajectory underscores NVIDIA's commitment to maintaining its leadership in the market, supported by a diverse product portfolio and a robust development roadmap.

In 2023, NVIDIA experienced the start of a "supercycle" in the data center and AI sectors, fueled by the high demand for Hopper GPUs and the growing adoption of AI technologies across major tech companies. NVIDIA, with its superior computing power, is uniquely positioned to benefit from this trend, and recent data confirms this potential.

TechInsights reports that NVIDIA shipped approximately 3.76 million data center GPUs in 2023, marking an increase of nearly 1 million units from the previous year. This achievement secured NVIDIA an overwhelming 98% market share, significantly outpacing competitors such as AMD and Intel. The total shipments of data center GPUs in 2023 were around 3.85 million units, emphasizing NVIDIA's dominant market position.

The report further highlights that NVIDIA generated $36.2 billion in revenue, capturing 98% of the market share—three times its revenue in 2022. In comparison, AMD and Intel combined shipped about 500,000 units (AMD at 500,000 and Intel at 400,000), resulting in a minimal share of the market's total revenue.

TechInsights also indicates that the current supply of AI hardware is not sufficient to meet market demand. With the majority of this demand focused on NVIDIA's products, competitors face significant challenges in gaining market share. However, analysts remain optimistic about future market diversification.