Investor Presentation

Q3 FY23
November 21, 2022
Except for the historical information contained herein, certain matters in this presentation including, but not limited to, statements as to: our financial position; our markets, market
opportunity and growth drivers; Gaming channel inventories being on track to approach normal levels exiting Q4; our expectation that Data Center demand in China will broadly remain soft
into the current quarter; Automotive having great momentum and being our next multi-billion dollar platform; our long-term Professional Visualization opportunity fueled by AI, simulation,
and computationally intensive design and engineering workloads; the continued scaling of our customers’ DRIVE Orin-based production ramps; our financial outlook, our expected tax rates
and our expected capital expenditures for the fourth quarter of fiscal 2023; the benefits, impact, performance and availability of our products and technologies, including NVIDIA Ada
Lovelace architecture, GeForce RTX 40 Series GPUs, NVIDIA H100 GPUs, NVIDIA NeMo LLM Service and NVIDIA BioNeMo LLM Service, NVIDIA Omniverse Computing Systems (OVX), NVIDIA
Omniverse Cloud services, NVIDIA DRIVE Thor, Jetson Orin Nano, NVIDIA IGX platform, NVIDIA’s acceleration stacks and ecosystems, NVIDIA’s AI expertise and scale, NVIDIA Omniverse,
NVIDIA DGX A100, NVIDIA AI Enterprise, Bluefield-3 DPU, and Grace CPU Superchip; NVIDIA’s partnership with Oracle to add tens of thousands more NVIDIA GPUs to Oracle Cloud
Infrastructure (OCI); Meta’s next-gen AI platform, Grand Teton, using NVIDIA H100 GPUs; Rescale adopting NVIDIA AI Enterprise and other software; NVIDIA’s collaboration with Microsoft to
build a cloud AI supercomputer; accelerated computing being needed to tackle the most impactful opportunities of our time; expected TOPS processing; AI as the greatest technology force
of our time; data centers across industries becoming AI factories; digital robots, avatars and physical robots perceiving, planning and acting; NVIDIA’s value to every stakeholder in the
ecosystem; the cost and time-to-solution savings of application speed-ups; our remaining repurchase authorization and dividend program plan; upcoming launches of our Data Center
products; our Automotive design win pipeline, ramp and production expectations; LLMs being widely viewed as the most important AI models today; NVIDIA accelerated computing being
broadly recognized as the way to advance computing as Moore’s law ends; the next wave of AI being robotics; building and operating Metaverse applications being the next wave; and our
plan for 100% of our global electricity usage for our offices and data centers to be renewable by 2025 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.

NVIDIA uses certain non-GAAP measures in this presentation including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-
GAAP operating margin, non-GAAP net income, non-GAAP diluted earnings per share, and free cash flow. 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”.
 Content
• Q3 FY23 Earnings Summary

• Key Announcements This Quarter

• NVIDIA Overview

• Financials

• Reconciliation of Non-GAAP to GAAP Financial Measures

Q3 FY23
Earnings Summary
 Highlights

• Record Data Center and Automotive revenue; Gaming and Pro Viz revenue declines on channel inventory corrections
and challenging external conditions
• Total revenue down 17% Y/Y to $5.93B, inline with outlook of $5.90B +/- 2%
• Data Center up 31% Y/Y to $3.83B
• Gaming down 51% Y/Y to $1.57B

• Data Center posted very solid performance in the face of macroeconomic challenges, export controls and lingering
supply chain disruptions
• Y/Y growth was driven primarily by leading U.S. cloud providers and a broadening set of consumer internet companies
• Networking posted strong growth driven by hyperscale customers and easing supply constraints
• Sequential growth impacted by China regulatory and macro headwinds

• Gaming decline on continued inventory correction; believe channel inventory on track to approach normal levels
exiting Q4
• Sell-through for gaming products was relatively solid in the Americas and EMEA, but softer in Asia-Pac
• Macroeconomic conditions and COVID lockdowns in China continued to weigh on consumer demand
• New Ada Lovelace GPU architecture had an exceptional launch; sold out quickly in many locations
 Q3 FY23 Financial Summary

GAAP Non-GAAP
9,500 Revenue($M) Non-GAAP GM 100.0%

Q3 FY23 Y/Y Q/Q Q3 FY23 Y/Y Q/Q

8,500 $8,288
90.0%
$7,643
7,500 Revenue $5,931 -17% -12% $5,931 -17% -12%
$7,103
$6,704 80.0%
6,500
Gross Margin 53.6% -11.6 pts +10.1 pts 56.1% -10.9 pts +10.2 pts
$5,931

5,500 70.0%
67.0% 67.0% 67.1%
Operating
$601 -77% +20% $1,536 -55% +16%
Income
4,500
56.1% 60.0%

3,500 Net Income $680 -72% +4% $1,456 -51% +13%

50.0%
2,500 45.9%
Diluted EPS $0.27 -72% +4% $0.58 -50% +14%

1,500 40.0%
Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Cash Flow
$392 -74% -69% $392 -74% -69%
from Ops

All dollar figures are in millions other than EPS.

 Data Center

31% Y/Y Highlights

and
1% Q/Q
• Very solid performance in the face of macroeconomic challenges,
$3,833
$3,750 $3,806 new export controls, and lingering supply chain disruptions
• Year-on-year, growth was driven primarily by leading US cloud
$3,263 providers and a broadening set of consumer internet companies
for workloads such as large language models, recommendation
$2,936
systems and generative AI drove growth
• Other vertical industries, such as automotive and energy, also
contributed to growth with key workloads relating to autonomous
driving, high performance computing,, simulations and analytics
• Demand in China remains soft, and we expect that to continue in
the current quarter
• Started shipping flagship H100 data center GPU based on the
new Hopper architecture

Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23

Revenue ($M)
 Gaming

Highlights
• Decline reflects lower sell-in to partners to help align channel
inventory levels with current demand expectations
$3,620
$3,420 • We believe channel inventories are on track to approach normal
$3,221 levels as we exit Q4
• Sell-through was relatively solid in the Americas and EMEA, but
softer in Asia Pac as macroeconomic conditions and COVID
lockdowns in China continued to weigh on consumer demand.
• The Ada Lovelace GPU architecture launched to tremendous
$2,042 51% Y/Y demand and positive feedback
and
23% Q/Q • GeForce RTX 4090 sold out quickly in many locations
$1,574
• GeForce RTX 4080 now available

• Total number of RTX games and applications now exceeds 350

• Added over 85 games to the GeForce NOW library, bringing the
total to over 1,400
Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23

Revenue ($M)
 Professional Visualization

Highlights
• Decline reflects lower sell-in to partners to help align channel
$643
$622 inventory levels with current demand expectations
$577
• Despite near-term challenges, long-term opportunity remains
intact, fueled by AI, simulation, and computationally intensive
$496 design and engineering workloads
• Leaders in some of the world’s largest industries continue to
adopt Omniverse, including Lowe’s, Charter Communications with
HEAVY.AI, and Deutsche Bahn
65% Y/Y
and
60% Q/Q
$200

Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23

Revenue ($M)
 Automotive

Highlights
86% Y/Y
and
14% Q/Q • Growth was driven by an increase in AI Automotive Solutions, as
our customers’ DRIVE Orin-based production continues to ramp
$251
• Volvo Cars unveiled the all-new flagship Volvo EX90 SUV powered
$220
by the NVIDIA DRIVE platform
• Other recently announced design wins and new model
introductions include Hozon Auto, NIO, Polestar, and XPENG

$135 $138
$125

Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23

Revenue ($M)
 Sources & Uses of Cash

Highlights
• Y/Y decrease reflects lower operating income, timing of supplier
payments and inventory deliveries, partially offset by lower
$3,033
supplier prepayments
• Q/Q decrease reflects timing of supplier and other payments as
well as inventory deliveries, partially offset by lower cash tax
payments
• Returned $3.75 billion to shareholders in the form of share
$1,731 repurchases and cash dividends
$1,519
• Invested $548M in capex (includes principal payments on PP&E)
$1,270
• Ended the quarter with $13.1B in gross cash and $11.0B in debt;
74% Y/Y $2.1B in net cash
and
69% Q/Q
$392

Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23

Cash Flow from Operations ($M)

Gross cash is defined as cash/cash equivalents & marketable securities.

Debt is defined as principal value of debt.
Net cash is defined as gross cash less debt.
 Q4 FY23 Outlook

Revenue $6.0 billion, plus or minus 2%

Expect modest sequential growth, driven by Automotive, Gaming and Data Center

Gross Margins 63.2% GAAP and 66.0% non-GAAP, plus or minus 50 basis points

Operating Expense Approximately $2.56 billion GAAP and $1.78 billion non-GAAP

Other Income & Expense Net income of approximately $40 million for GAAP and non-GAAP
Excluding gains and losses on non-affiliated investments

Tax Rate 9.0% GAAP and non-GAAP, plus or minus 1%, excluding discrete items

Capital Expenditures Approximately $500 million to $550 million

Key Announcements
This Quarter
NVIDIA GeForce RTX 40 Series
GPU Launch

• Based on the new NVIDIA Ada Lovelace architecture,

GeForce 40 Series GPUs deliver up to 4x the
performance of the previous generation
• Features DLSS 3, the neural rendering technology
that uses AI to generate entire frames for faster
gameplay
• The initial line-up includes two high-end GPUs:
• RTX 4090 24GB is up to 4x faster compared to RTX
3090 Ti; began selling last quarter, starting at $1,599
• RTX 4080 16GB is 2x as fast as the RTX 3080 Ti and
more performance than RTX 3090 Ti at lower power;
available now, starting at $1,199
NVIDIA H100 in Full Production

• NVIDIA H100 is in full production, with global tech

partners planning to roll out the first wave of products and
services in Q4
• H100 delivers the same AI performance with 3.5x better
energy efficiency and 3x lower total cost of ownership,
while using 5x fewer server nodes, over the previous
generation
• The NVIDIA AI Enterprise software suite is now included
with H100 enterprise servers
• Optimized for development and deployment of AI and give
enterprises access to NVIDIA’s AI application frameworks
and tools needed to build customer support chatbots,
recommender systems, IoT edge AI and more

• H100 systems will be available from Atos, Cisco, Dell

Technologies, Fujitsu, GIGABYTE, Hewlett Packard
Enterprise, Lenovo and Supermicro
• The first H100-based cloud systems will be deployed on
Amazon Web Services, Google Cloud, Microsoft Azure and
Oracle Cloud Infrastructure early next year
Large Language Model (LLM)
Cloud Services to Advance AI
and Digital Biology

• The NVIDIA NeMo LLM Service and the NVIDIA

BioNeMo LLM Service enable developers to easily
adapt LLMs and deploy customized AI applications
• Applications include content generation, text
summarization, chatbots, code development, protein
structure and biomolecular property predictions
• Based on the Transformer architecture, LLMs can
learn to represent the language of humans,
chemistry, or biology, without supervision or labeled
datasets
• LLMs are widely viewed as the most important AI
models today
• Early Access availability soon
NVIDIA Omniverse
Computing Systems (OVX)

• NVIDIA OVX systems—the graphics and simulation

foundation for the metaverse—are designed to build
3D virtual worlds and to operate immersive digital
twin simulations in NVIDIA Omniverse Enterprise
• NVIDIA OVX is powered by NVIDIA L40 GPU based on
Ada Lovelace and NVIDIA CX7 400Gb/s NIC
• OVX servers can be deployed in NVIDIA OVX POD and
SuperPOD configurations with the NVIDIA Spectrum-3
Ethernet platform
NVIDIA Omniverse
Cloud Services

• NVIDIA’s first software- and infrastructure-as-a-service

offering
• A suite of cloud services for artists, developers and
enterprise teams to design, publish, and operate
metaverse applications anywhere
• Omniverse Cloud services run on the Omniverse OVX for
graphics and physics simulation, NVIDIA HGX for AI
workloads and the NVIDIA Graphics Delivery Network
• Services in Omniverse Cloud – including Omniverse Farm,
Replicator and Isaac Sim – are available as containers on
NVIDIA NGC for self-service deployment on AWS using
Amazon EC2 G5 instances featuring NVIDIA A10G GPUs
• NVIDIA Omniverse Cloud managed services are available
via early access by application
• Early customers of Omniverse Cloud include RIMAC Group,
WPP and Siemens
NVIDIA DRIVE Thor Superchip

• DRIVE Thor, with 2,000 teraflops of performance,

unifies separate functions into a single architecture
for greater efficiency and lower overall system cost.
Functions include:
• Automated and assisted driving
• Parking
• Driver and occupant monitoring
• Digital instrument cluster
• In-vehicle infotainment (IVI) and rear-seat
entertainment
• Includes AI capabilities introduced in the NVIDIA
Hopper Multi-Instance GPU architecture, along with
the NVIDIA Grace CPU and Ada Lovelace GPU
• Chosen by Geely-owned automaker, ZEEKR, for its
next-generation intelligent EVs for early 2025
• Available for automakers’ 2025 models
Jetson Orin Nano for Robotics

• The new Jetson Orin Nano system-on-module

delivers up to 40 TOPS, or up to 80x the performance
of the prior generation Jetson Nano, setting a new
standard for entry-level edge AI and robotics
• NVIDIA’s Jetson ecosystem includes 1 million
developers, 6,000 customers and 150 partners
• Canon, John Deere, Microsoft and Teradyne among
the many companies building robots with Jetson
• Available in January 2023 starting at $199
IGX Edge AI Platform for Safe,
Secure Autonomous Systems

• The NVIDIA IGX platform brings advanced security

and proactive safety to sensitive industries such as
manufacturing, logistics and healthcare
• Includes NVIDIA IGX Orin, a compact and energy-
efficient AI system, and can run NVIDIA AI Enterprise
and NVIDIA Fleet Command software
• NVIDIA Fleet Command allows organizations to deploy
secure, over-the-air software and system updates
from a central cloud console
• Embedded-computing manufacturers to create
products based on IGX include ADLINK, Advantech,
Dedicated Computing, Kontron, Leadtek, MBX, Onyx,
Portwell, Prodrive Technologies and YUAN
• Siemens will use IGX at the industrial edge
Oracle Adding Tens of Thousands
More NVIDIA GPUs in OCI,
Partnering to Speed AI Adoption

• Oracle Cloud Infrastructure (OCI) is adding tens of

thousands more NVIDIA GPUs, including the A100
and upcoming H100
• Provides enterprises a broad, easily accessible portfolio
of options for AI training and inference at scale
• The partnership aims to bring the full NVIDIA
accelerated computing stack—from GPUs to systems
to software—to OCI
• Puts NVIDIA AI within easy reach for a broad range
of industries and thousands of companies
• NVIDIA AI Enterprise for secure and scalable
end-to-end AI development and deployment
• NVIDIA RAPIDS acceleration for Apache Spark
on the OCI Data Flow managed service
• NVIDIA Clara for medical imaging, genomics,
natural language processing and drug discovery
Meta’s Next-Gen AI Platform,
Grand Teton, Brings NVIDIA
Hopper to Its Data Centers

• Grand Teton uses NVIDIA H100 GPUs and offers 2x

the network bandwidth and 4x the bandwidth
between host processors and GPU accelerators
compared to Meta’s prior Zion system
• The added network bandwidth enables Meta to
create larger clusters of systems for training AI
models
• NVIDIA H100 GPUs, when connected with NVIDIA
networking across thousands of servers in
hyperscale data centers, can be 300X more energy
efficient than CPU-only servers
• With Meta sharing Grand Teton, system builders will
have access to an open design for H100-powered
hyperscale data center compute infrastructure
Reinforcing NVIDIA’s Leadership in Latest MLPerf Training Benchmark

What is MLPerf? MLPerf November 2022—AI Training

• The industry’s first objective AI benchmark for measuring • Seventh consecutive top showing in training tests
machine learning performance NVIDIA H100 GPUs set records across all enterprise
AI workloads in the training benchmarks
• Consortium of over 70 universities and companies,
including Google, Intel, Baidu, and NVIDIA, founded • NVIDIA AI was not only the winning platform across
in 2018 the board, but also the only platform to run all eight tests
• NVIDIA has consistently delivered leading results • NVIDIA H100 GPUs delivered up to 6.7X faster
and record performances in both MLPerf Training performance than prior generation A100 GPUs when they
and Inference benchmarks were first submitted
• Today’s A100 GPUs are 2.5X more performant, thanks
to advances in software and full-stack optimization
• 11 companies, including the Microsoft Azure cloud
service, made submissions using NVIDIA A100,
A30 and A40 GPUs, demonstrating the reach of the
NVIDIA ecosystem
NVIDIA AI Adopted by Rescale
HPC-as-a-Service Platform

• Rescale is adopting NVIDIA AI Enterprise and other

software to address the industrial scientific
community’s rising demand for AI in the cloud
• Brings new capabilities to Rescale’s HPC-as-a-
service offerings, which include simulation and
engineering software used by hundreds of
customers across industries
• NVIDIA is also accelerating the Rescale Compute
Recommendation Engine, which enables
customers to identify the right infrastructure
options to optimize cost and speed objectives
NVIDIA Teams with Microsoft to
Build Massive Cloud AI Computer

• Multi-year collaboration with Microsoft to build one

of the most powerful AI supercomputers to help
enterprises train, deploy and scale AI, including large,
state-of-the-art models
• Microsoft Azure will incorporate the NVIDIA AI stack,
adding tens of thousands of A100 and H100 GPUs,
Quantum-2 400Gb/s InfiniBand networking and the
NVIDIA AI Enterprise software suite to its platform
• NVIDIA will utilize Azure’s scalable virtual machine
instances to research and further accelerate advances
in generative AI, a rapidly emerging area of AI
NVIDIA Overview
NVIDIA pioneered accelerated computing to help solve impactful
challenges classical computers cannot. A quarter of a century in the
making, NVIDIA accelerated computing is broadly recognized as the
way to advance computing as Moore’s law ends and AI lifts off.

NVIDIA’s platform is installed in several hundred million computers,

is available in every cloud and from every server maker, powers 361
of the TOP500 supercomputers, and boasts over 3.5 million developers.

Headquarters: Santa Clara, CA

What Is Accelerated Computing?
A full-stack approach: silicon, systems, software
Amdahl’s law:
The overall system speed-up (S) gained by optimizing a
single part of a system by a factor (s) is limited by the
proportion of execution time of that part (p).
Not just a superfast chip – accelerated computing
is a full-stack combination of:
1
• Chip(s) with specialized processors 𝑆= 𝑝
• Algorithms in acceleration libraries
1−𝑝 +𝑠
• Domain experts to refactor applications
To speed-up compute-intensive parts of an application. For example:
• If 90% of the runtime can be accelerated by 100x,
the application is sped up 9x
• If 99% of the runtime can be accelerated by 100x,
the application is sped up 50x
• If 80% of the runtime can be accelerated by 500x,
or even 1000x, the application is sped up 5x
Why Accelerated Computing?
Advancing computing in the post-Moore’s Law era

109

Trillions of Operations per Second (TOPS)

108
Accelerated computing is needed to tackle the most
impactful opportunities of our time—like AI, climate 107 GPU-Computing perf
1000X
simulation, drug discovery, ray tracing, and robotics. 2X per year
In 10 years
106
NVIDIA is uniquely dedicated to accelerated computing
—working top-to-bottom—refactoring applications and 105
1.1X per year
creating new algorithms, and bottom-to-top—inventing
new specialized processors, like RT Core and Tensor Core. 104

103

1.5X perf per year

“It’s the end of Moore’s Law as we know it.” 102

- John Hennessy Oct 23, 2018

Single-threaded CPU perf
“Moore’s Law is dead.”
- Jensen Huang, GTC 2013 1980 1990 2000 2010 2020 2030
 AI Is the Greatest Technology Force of Our Time
Data centers across industries will become AI factories

AI has fundamentally changed what software can

make and how you make software.
Companies are processing & refining their data,
making AI software—becoming intelligence
manufacturers. Their data centers are AI factories.
The first wave of AI is learned perception and Contact Center AI Meeting Transcription Public Safety
500M Calls / Day 3B Meeting Minutes / Day >1B Smart City Cameras Deployed
inference, like recognizing images, understanding
speech, recommending a video, or an item to buy.
The next wave of AI is robotics—AI planning
actions. Digital robots, avatars, and physical
robots will perceive, plan and act.
NVIDIA’s acceleration stacks and ecosystems help
bring AI to the world’s largest industries. Retail Asset Protection Medical Imaging Industrial Inspection
$94.5B Inventory Loss / Year 10M Diagnostic Scans / Day $32M Vision Sensors Installed by
NVIDIA’s world-class AI expertise and scale can 2025
help revolutionize businesses.

Transportation Credit Card Fraud Product Recommendations

10T Miles / Year 1.28B Credit Transactions / Day 1B E-Commerce Visitors / Day

Source: Nilson Report, IHS Markit, Similar Web, NRF, WHO, ABI and NVIDIA internal analysis
 Building and Operating Metaverse Applications Is the Next Wave
NVIDIA Omniverse—Runs on NVIDIA OVX servers | RTX workstations | Enterprise software | Cloud services

NVIDIA Omniverse is a software platform for

building and operating metaverse applications.
Our initial focus is on industrial metaverses, Factory Digital Twin

such as digital twins used to emulate the

behavior of products or factories in the Factory Planning

physical world.
Factory CAD

Omniverse uses a real-time, large-scale 3D

database that connects to 3D worlds via the
USD (Universal Scene Descriptor) framework.
Just as the internet connects websites over Digital Human Training

HTML, Omniverse connects 3D worlds over USD.

Omniverse is essential for the next wave of
AI—robotics—where AI interacts with the
physical world. Physics
Robot CAD AI
Applications built to run on Omniverse are like
Path Robot Gym
Tracing MDL

portals into the Omniverse virtual world.

Product Development Operate Digital Twin
Connecting 3D Creators & Connecting Robots
AI Assistants in Virtual Worlds in a Virtual World
 NVIDIA’s Accelerated Computing Platform
Full-stack innovation across silicon, systems and software

AI APPLICATION FRAMEWORK
With nearly three decades of a singular
focus, NVIDIA is expert at accelerating
software and scaling compute by a
Million-X, going well beyond Moore’s law.

PLATFORMS NVIDIA HPC NVIDIA AI NVIDIA Omniverse Accelerated computing is a full-stack

challenge, demanding deep understanding
of the problem domain, optimizing across
cuNumeric CV-CUDA cuQuantum Parabricks Sionna Jetpack every layer of computing, and all three chips
ACCELERATION —GPU, CPU, and DPU.
RAPIDS Spark cuDNN cuGraph TensorRT Triton Deepstream Flare
LIBRARIES
Scaling across multi-GPUs and multi-nodes
DOCA Mag IO Aerial
is a data center-scale challenge and requires
treating the network and storage as part of
the computing fabric.
CLOUD-TO-EDGE Super
RTX DGX HGX EGX OVX AGX IGX
POD
DATACENTER-TO- Our platform extends from PCs to
ROBOTIC SYSTEMS supercomputing centers, enterprise data
centers, cloud and edge environments.
3-CHIPS

GPU CPU DPU

 NVIDIA’s Multi-Sided Platform and Flywheel

NVIDIA is valued by every stakeholder in the ecosystem:

3.5 Million
• For developers – NVIDIA’s One Architecture and large Full-Stack Developers
installed base give developer’s software the best Expertise and Scale Wealth of
Accelerated
performance and greatest reach CUDA Apps
Installed Base
• For computer makers and CSPs – NVIDIA’s rich suite
of Acceleration Platforms lets partners build one
offering to address large markets including media
& entertainment, healthcare, transportation, energy, NVIDIA
Global Computer
financial services, manufacturing, retail, and more Accelerated
Makers and CSPs
Computing
• For customers – NVIDIA is offered by virtually every
computing provider and accelerates the most
impactful applications from cloud to edge
• For NVIDIA – Deep engagement with developers, Demand and 100’s of Systems
New CSPs Worldwide
computing providers, and customers in diverse Opportunities
35,000
industries enables unmatched expertise, scale, Organizations
Full-Stack
Acceleration for
and speed of innovation across the entire accelerated Across Industries Largest Industries
computing stack – propelling the flywheel
 Full-Stack & Data Center Scale Acceleration
Drive Significant Cost Savings and Workload Scaling

Classical Computing—92 CPU-only servers Accelerated Computing—1 NVIDIA DGX A100

$3.3M (including switches, cables, racks) $220,000 DGX and $100,000 NVIDIA AI software

Application
Application
Re-Engineered for Acceleration

CPU server racks CUDA-X Acceleration Libraries

Magnum IO

DGX

10X lower cost

14X better energy-efficiency

Cost comparison example based on latest available NVIDIA A100 GPU and Intel CPU inference results in the commercially available category of
the MLPerf industry benchmark; includes related infrastructure costs such as networking.
 New NVIDIA Software and Services
Enabling the World’s Enterprises to Revolutionize Industries with AI

NVIDIA AI Enterprise NVIDIA Omniverse NVIDIA Nemo LLM NVIDIA BioNemo

The operating engine of AI for A platform for designing, building, NVIDIA-hosted cloud service for NVIDIA-hosted cloud service for
end-to-end data-driven software and operating 3D and virtual world training Large Language Models training and deploying large
development. simulations. to perform specific tasks— biomolecular models that
e.g., summarize legal documents, understand the language of
One engine license accelerates end- Consists of a virtual world engine, write marketing copy, analyze market chemistry, proteins, RNA, and DNA.
to-end modern AI and data science. USD connectors, and portals browsing sentiment, chatbot to support
the virtual world simulation. customers, search documents, write BioNemo can help researchers,
One engine license unlocks wealth and document code, paraphrase biotech, and pharma companies
of data processing, AI, and robotics Omniverse is an enterprise application to process chemical and biological
frameworks and applications— that connects architects, designers, Nemo can help thousands of datasets to accelerate
e.g., RAPIDS, Spark, Merlin, Monai, hardware and software engineers, companies, train language AI’s drug discovery.
Metropolis, cuOpt, Morpheus, Tokkio. marketers, to supply-chain and to do hundreds of tasks, in 10’s
factory planners.
of languages.

Per GPU On-Prem Subscription Per Connection On-Prem Subscription Per GPU On-Prem Subscription Per GPU On-Prem Subscription

Per GPU-HR Cloud Consumption Per GPU-HR Cloud Consumption Per GPU-HR Cloud Consumption Per GPU-HR Cloud Consumption
 Giant Market Opportunity

Gaming & Metaverse Financial Services Healthcare Logistics Manufacturing Retail Transportation

Gaming
Over 3B gamers and creators, a quarter of them spending over
$1 Trillion Opportunity
$100/year for GPUs in desktops, laptops, cloud or consoles
NVIDIA AI Omniverse
NVIDIA AI Enterprise Software Enterprise Enterprise
50M enterprise server installed base; per-server, per-year Software Software
subscription price

Omniverse Enterprise Software

Gaming
$150B $150B Automotive
Over 45M designers and creators; 10s of millions of digital twins
—per-user/digital twin, per-year subscription price
$100B $300B
Chips and Systems Chips & Systems
~20M servers/year—GPUs, CPUs, DPUs, NICs, switches

Automotive $300B
100M vehicles/year hardware opportunity; 100s of millions of
AV vehicles installed base software opportunity
 Driving Strong & Profitable Growth

$15,000 Operating Profit (Non-GAAP, $M) Operating Margin (Non-GAAP) 60%

$12,690
Revenue ($M) $12,000
50%
$9,000
$26,914
$6,803 47% $6,816
$6,000
$4,407 41% 40%
$3,617 $3,735 YTD YTD
$3,000 38%
$20,923 37%
34%
$0 33% 30%
FY18 FY19 FY20 FY21 FY22 FY23
$16,675
Fiscal year ends in January. Refer to Appendix for reconciliation of Non-GAAP measures. Operating margins rounded to the nearest percent.

$11,716 YTD FY18 YTD FY23

$10,918
$9,714
YTD YTD 9 32
6
6 Gaming
35 Data Center
10
ProViz
55 Auto
OEM & Other
20
54
FY18 FY19 FY20 FY21 FY22 FY23

YTD FY23 financial metrics reflect a $1.9B charge for inventory and related reserves primarily related to Data Center and Gaming.
 NVIDIA Gross Margins Reflect Value of Acceleration

Gross Profit (Non-GAAP, $M) Gross Margin (Non-GAAP)

Accelerated computing requires full-stack and data
center-scale innovation across silicon, systems, $18,000
$17,969 69%

algorithms and applications. 67% 67%

66%
Significant expertise and effort are required, but 65%

application speed-ups can be incredible, resulting in $12,000

$10,947
$11,966

dramatic cost and time-to-solution savings. 63% 63%

62%

For example, 10 NVIDIA HGX nodes with 80 NVIDIA A100 60% $7,233
$6,821
61%
YTD YTD
GPUs that cost $4M can replace 920 nodes of CPU servers $6,000
$5,844
that cost over $50M for AI inference. 59%

57%
57%
NVIDIA chips carry the value of the full-stack, not just
the chip. $0 55%

FY18 FY19 FY20 FY21 FY22 FY23

Cost comparison example based on latest available NVIDIA A100 GPU and Intel CPU inference results in the commercially available category of YTD FY23 financial metrics reflect a $1.9B charge for inventory and related reserves primarily related to Data Center and Gaming.
the MLPerf industry benchmark; includes related infrastructure costs such as networking. Fiscal year ends in January. Refer to Appendix for reconciliation of Non-GAAP measures. Gross margins are rounded to the nearest percent.
 Strong Cash Flow Generation

Free Cash Flow (Non-GAAP) Capital Allocation

$8.0B
Share Repurchase
Resumed Buybacks in Q1 FY 2023
$9.0B repurchased YTD FY23; $8.3B Remaining
Authorization Through Dec 2023 as of Oct 30, 2022

$4.7B
$4.3B
Dividend
$3.1B $400M in FY 2022
$2.9B
Plan to Maintain1
$2.0B

YTD YTD
Strategic Investments
Growing Our Talent
FY18 FY19 FY20 FY21 FY22 FY23 Platform Reach & Ecosystem

Fiscal year ends in January. Refer to Appendix for reconciliation of Non-GAAP measures.
1 Subject to continuing determination by our Board of Directors.
 Our Market Platforms at a Glance

Gaming Data Center Professional Visualization Automotive

46% of FY22 revenue 40% of FY22 revenue 8% of FY22 revenue 2% of FY22 revenue

FY22 Revenue $12.5B FY22 Revenue $10.6B FY22 Revenue $2.1B FY22 Revenue $0.6B
5-yr CAGR 25% 5-yr CAGR 66% 5-yr CAGR 20% 5-yr CAGR 3%

GeForce GPUs for PC gaming DGX/HGX/EGX/IGX systems Quadro/NVIDIA RTX GPUs DRIVE Hyperion sensor architecture
for workstations with AGX compute
GeForce NOW cloud gaming GPU | CPU | DPU | Networking
NVIDIA AI software Omniverse software DRIVE AV & IX full stack software
for ADAS, AV & AI cockpit
 Data Center
The leading computing platform for AI, HPC & graphics

Revenue ($M) $11,389 Leader in AI & HPC

$10,613
66% 5-YR CAGR #1 in AI training and inference
Through FY22
Used by all hyperscale & major cloud computing
providers and 35,000 organizations
Powers 361 of the TOP500 supercomputers
$6,696

Growth Drivers
Rapid AI adoption across industries
YTD YTD
$2,932 $2,983 Full-stack AI | Software

$1,932 Three chip strategy—GPU | CPU | DPU

Rising computation requirements for modern AI
Data-center scale innovation
FY18 FY19 FY20 FY21 FY22 FY23 Omniverse
 Data Center
Strong growth fueled by AI performance leadership and huge developer ecosystem

CUDA Downloads—4.5X in 4 Yrs

90,000x 37M
2015 36,000 Mins
(25 Days)
Hyperscale Revenue

K80

3x # of Developers—3.5X in 4 Yrs

2017 480 Mins

V100 (8 Hours) 3.5M

2021
Accelerated Applications—5X in 4 Yrs
24 Seconds
A100
3K
3K
P100 V100 A100

Note: Cumulative Revenue 8Q After Launch

Accelerating Adoption with #1 in AI Training & The Largest Accelerated

Every Architecture Inference Performance Computing Ecosystem
 Modern AI is a Data Center Scale Computing Workload
Data centers are becoming AI factories: data as input, intelligence as output

AI Training Computational Requirements Fueling Giant-Scale AI Infrastructure

NVIDIA compute & networking GPU | DPU | CPU
1010 All AI Models Excluding Transformers: 8x / 2yrs Megatron-Turing
Transformer AI Models: 275x / 2yrs NLG 530B

109 GPT-3

108 Microsoft T-NLG

Training Compute (petaFLOPS)

GPT-2
107 Megatron
Wav2Vec 2.0
XLNet
Xception MoCo ResNet50
106
InceptionV3
BERT Large
105
GPT-1
Resnet Transformer
Seq2Seq
104 ResNeXt Large Language Models, based on the Transformer architecture, are one of
VGG-19 ELMo today’s most important advanced AI technologies, involving up to trillions of
DenseNet201 parameters that learn from text.
103
AlexNet
Developing them is an expensive, time-consuming process that demands deep
102 technical expertise, distributed data center-scale infrastructure, and a full-stack
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
accelerated computing approach.
 Wave of New Data Center Products
Ramping new architectures for GPU, CPU and DPU

H100 GPU Bluefield-3 DPU Grace CPU Superchip

World’s Most Advanced Chip First 400 Gb/s DPU High Performance CPU for HPC and AI

80B Transistors Line-rate processing of software-defined 144 Cores | 740 SPECrate®2017_int_base est.
networking, storage, and cybersecurity
Transformer Engine – 6X Perf 1TB/s Memory Bandwidth
VMware vSphere 8 integration
Confidential Computing 2X Perf/Watt Over Traditional Servers
Zero-trust security
4th Gen NVLink—7X PCIe Gen5 Runs NVIDIA Computing Stacks
~600 infrastructure software partners

2H FY23 1H FY23 1H FY24

 Gaming
GeForce—the world’s largest gaming platform

Revenue ($M) Leader in PC Gaming

$12,462
25% 5-YR CAGR Strong #1 market position with over 80% share
Through FY22
15 of the Top 15 most popular GPUs on Steam
Leading performance & innovation
200M+ gamers on GeForce
$7,759
$7,236
$6,246
$5,513 $5,518
YTD YTD
Growth Drivers
Rising adoption of NVIDIA RTX
Expanding universe of gamers & creators
Gaming laptops & game consoles
GeForce NOW Cloud gaming
FY18 FY19 FY20 FY21 FY22 FY23
 Strong Gaming Fundamentals
New generation, more gamers

77%
81% 350+ RTX Games and Applications

60%

#1 #1 #1 #1
42% 3.1B Video App Photo App 3D App Broadcast App
2.3B

PC Gamers Total Gamers

Boomers Gen X Millennials Gen Z

2:30 4:25 6:50 7:20 Expanding reach to

Hrs/Wk Hrs/Wk Hrs/Wk Hrs/Wk 110M Creators & Broadcasters

New generation, more gamers Expanding universe of gamers and creators Robust NVIDIA ecosystem

Source: NewZoo and NVIDIA internal analysis

 Professional Visualization
Workstation graphics

Revenue ($M) Leader in Workstation Graphics

20% 5-YR CAGR 90%+ market share in graphics
Through FY22 $2,111 for workstations
45M Designers and Creators
Strong software ecosystem with over 100
supported applications
$1,318
$1,212
$1,130
$1,053
$934

YTD YTD
Growth Drivers
Ray Tracing and AI revolutionizing design
Expanding universe of designers and creators
Collaborative 3D design / Omniverse
Hybrid work environments
FY18 FY19 FY20 FY21 FY22 FY23
 Automotive
Autonomous Vehicles (AV) & AI Cockpit

Revenue ($M) Leader in Autonomous Driving

Our Next Billion-Dollar Business Historical revenue driven largely by infotainment
Over $11B design win pipeline across 40 customers Future growth primarily fueled by NVIDIA DRIVE, our AV and
AI cockpit platform with full software stack
Leadership Position in All Segments
Over $11B design win pipeline through FY28 based on DRIVE
20 of 30 7 of 10 8 of 10 Orin, which started ramp in FY23
Passenger EV Trucking Robotaxi
Next-generation DRIVE Thor to ramp in FY25
$700
$641
$609
$558 $566
$536
Growth Drivers
Adoption of centralized car computing and
software-defined vehicle architectures
YTD YTD
AV software and services:
Mercedes Benz FY25 SOP*
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Jaguar Land Rover FY26 SOP

*SOP = Start of Production

Financials
 Annual Cash & Cash Flow Metrics

Operating Income (Non-GAAP) — $M Operating Cash Flow — $M

12,690 9,108

5,822
6,803 4,761
3,502 3,743
4,407
3,617 3,735

FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22

Free Cash Flow (Non-GAAP) — $M Cash Balance — $M

8,049
21,208

4,677
4,272 10,897 11,561
2,909 3,143
7,108 7,422

FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22

Cash balance is defined as cash and cash equivalents plus marketable securities
Refer to Appendix for reconciliation of non-GAAP measures
 Corporate Responsibility

Environmentally Conscious A Place For People To Do Their Life’s Work Management

Time Magazine’s 100 Most Influential

Companies
#1 CEO Magazine’s 10 Best CEOs
NVIDIA's two HQ campuses have received Fortune’s World’s Most Admired Companies
LEED Gold status
Wall Street Journal’s Management
Top 250 All-Stars
“100 Best Companies to Work For”
FORTUNE

23 of Top 30 Supercomputers on the Nov 2022 Green500

“America’s Most Just Companies”
powered by NVIDIA including the #1 system, Henri FORBES
Corporate Governance
“Most Responsible Companies”
NEWSWEEK 38% Of Board is Gender, Racially,
or Ethnically Diverse
“Best Places to Work for LGBT Equality”
We Plan For 100% of Our Global Electricity Usage For Our HUMAN RIGHTS CAMPAIGN 92% of Directors are Independent
Offices and Data Centers to Be Renewable by 2025
Reconciliation of Non-GAAP to
GAAP Financial Measures
 Reconciliation of Non-GAAP to GAAP Financial Measures

Acquisition-
Acquisition Stock-Based
Related and Other Tax Impact of
Non-GAAP Termination Compensation GAAP
Other Costs (C) Adjustments
Cost (B)
(A)
Q3 FY23

$3,329 — (120) (32) — — $3,177

Gross margin
($ in million)
56.1% — (2.0) (0.5) — — 53.6%

Operating
income $1,536 — (174) (745) (16) — $601
($ in million)
Net income
$1,456 — (174) (745) (28) 171 $680
($ in million)
Shares used
in diluted
per share 2,499 — — — — — 2,499
calculation
(millions)

Diluted EPS $0.58 — — — — — $0.27

A. Consists of amortization of intangible assets, transaction costs, and certain compensation charges.
B. Stock-based compensation charge was allocated to cost of goods sold, research and development expense, and sales, general and administrative expense.
C. Other comprises of restructuring, contributions and net losses from non-affiliated investments
 Reconciliation of Non-GAAP to GAAP Financial Measures (contd)

Acquisition-Related Stock-Based
and Other Costs Compensation IP-Related
Gross Margin Non-GAAP (A) (B) Costs GAAP

Q3 FY2022 67.0% (1.2) (0.6) — 65.2%

Q4 FY2022 67.0% (1.1) (0.5) — 65.4%

Q1 FY2023 67.1% (1.1) (0.5) — 65.5%

Q2 FY2023 45.9% (1.8) (0.6) — 43.5%

A. Consists of amortization of intangible assets

B. Stock-based compensation charge was allocated to cost of goods sold
 Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)

Acquisition-Related Stock-Based
Gross Margin
and Other Costs Compensation
($ in Millions &
Margin Percentage) Non-GAAP (A) (B) IP-Related Costs GAAP
$5,844 — (21) (1) $5,822
FY 2018
60.2% — (0.3) — 59.9%
$7,233 — (27) (35) $7,171
FY 2019
61.7% — (0.2) (0.3) 61.2%
$6,821 — (39) (14) $6,768
FY 2020
62.5% — (0.4) (0.1) 62.0%
$10,947 (425) (88) (38) $10,396
FY 2021
65.6% (2.6) (0.5) (0.2) 62.3%
$17,969 (344) (141) (9) $17,475
FY 2022
66.8% (1.4) (0.5) — 64.9%

A. Consists of amortization of intangible assets and inventory step-up

B. Stock-based compensation charge was allocated to cost of goods sold
 Reconciliation of Non-GAAP to GAAP Financial Measures

Acquisition-Related Stock-Based
Gross Margin
and Other Costs Compensation
($ in Millions &
Margin Percentage) Non-GAAP (A) (B) IP-Related Costs GAAP
$12,844 (258) (102) (8) $12.476
YTD Q3 FY2022
66.6% (1.4) (0.5) — 64.7%
$11,966 (335) (108) — $11,523
YTD Q3 FY2023
57.2% (1.6) (0.5) — 55.1%

A. Consists of amortization of intangible assets and inventory step-up

B. Stock-based compensation charge was allocated to cost of goods sold
 Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)

Operating Margin Acquisition-Related Stock-Based

($ in Millions & Non-GAAP and Other Costs Compensation Other GAAP
Margin Percentage) (A) (B)

$3,617 (13) (391) (3) $3,210

FY 2018
37.2% (0.2) (4.0) — 33.0%

$4,407 (2) (557) (44) $3,804

FY 2019
37.6% — (4.7) (0.4) 32.5%

$3,735 (31) (844) (14) $2,846

FY 2020
34.2% (0.3) (7.7) (0.1) 26.1%

$6,803 (836) (1,397) (38) $4,532

FY 2021
40.8% (5.0) (8.4) (0.2) 27.2%

$12,690 (636) (2,004) (9) $10,041

FY 2022
47.2% (2.5) (7.4) — 37.3%

A. Consists of amortization of acquisition-related intangible assets, inventory step-up, transaction costs, compensation charges, and other costs
B. Stock-based compensation charge was allocated to cost of goods sold, research and development expense, and sales, general and administrative expense
C. Comprises of IP-related costs, legal settlement costs, contributions, and restructuring and other charges
 Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)

Operating Margin Acquisition-Related Stock-Based

Acquisition
($ in Millions & Non-GAAP and Other Costs Compensation Other GAAP
Termination Cost
Margin Percentage) (A) (B)

YTD Q3 FY2022 $9,014 — (482) (1,453) (8) $7,071

46.8% — (2.6) (7.5) — 36.7%

YTD Q3 FY2023 $6,816 (1,353) (499) (1,971) (25) $2,968

32.6% (6.5) (2.4) (9.4) (0.1) 14.2%

A. Consists of amortization of acquisition-related intangible assets, inventory step-up, transaction costs, compensation charges, and other costs
B. Stock-based compensation charge was allocated to cost of goods sold, research and development expense, and sales, general and administrative expense
C. Comprises of IP-related costs, legal settlement costs, contributions, and restructuring and other charges
 Reconciliation of Non-GAAP to GAAP Financial Measures (contd.)

Purchases Related to Principal Payments Net Cash

($ in Millions) Free Cash Flow Property and Equipment on Property Provided by
and Intangible Assets and Equipment Operating Activities

FY 2018 $2,909 593 — $3,502

FY 2019 $3,143 600 — $3,743

FY 2020 $4,272 489 — $4,761

FY 2021 $4,677 1,128 17 $5,822

FY 2022 $8,049 976 83 $9,108

YTD Q3 FY 2022 $5,310 703 62 $6,075

YTD Q3 FY 2023 $2,015 1,324 54 $3,393

 Reconciliation of Non-GAAP to GAAP Financial Measures

($ in Millions) Q4 FY23 Outlook

Non-GAAP gross margin 66.0%

Impact of stock-based compensation expense, acquisition-related costs, and other costs (2.8%)

GAAP gross margin 63.2%

Non-GAAP operating expenses $1,780

Impact of stock-based compensation expense and acquisition-related costs 780

GAAP operating expenses $2,560