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MarketLine Company Profile - NVIDIA

NVIDIA Corporation specializes in visual computing solutions and graphics processing units, serving gaming, professional visualization, data center, and automotive markets. The company reported revenues of $60.9 billion for FY2024, marking a significant increase from the previous year, with a strong operating margin of 54.1%. NVIDIA operates globally, offering products under various brands and engaging in numerous partnerships and collaborations to advance AI and computing technologies.

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51 views69 pages

MarketLine Company Profile - NVIDIA

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COMPANY PROFILE

NVIDIA Corporation

REFERENCE CODE: 94DC297F-D311-4AAA-8E06-61D1362DF8E3

PUBLICATION DATE: 12 Jul 2024
www.marketline.com
COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED
NVIDIA Corporation
TABLE OF CONTENTS

TABLE OF CONTENTS

Company Overview ........................................................................................................3

Key Facts ......................................................................................................................... 3
Business Description .....................................................................................................4
History ............................................................................................................................. 5
Key Employees .............................................................................................................54
Key Employee Biographies .........................................................................................55
Major Products & Services ..........................................................................................57
SWOT Analysis .............................................................................................................59
Top Competitors ...........................................................................................................63
Company View ..............................................................................................................64
Locations And Subsidiaries ........................................................................................67

NVIDIA Corporation Page 2

Company Overview

COMPANY OVERVIEW
NVIDIA Corporation (NVIDIA or ‘the company’) specializes in providing visual computing solutions and
graphics processing units. The company designs graphics processing units (GPUs) and system on a chip
unit (SOCs) for gaming, professional visualization, data centre and automotive markets. It offers GPU
products under the brands GeForce for gamers, Quadro for designers, DGX and Tesla for big data
researchers and AI data scientists, and GRID for cloud-based visual computing users. NVIDIA also offers
Tegra processors for mobile gaming and entertainment devices, game consoles, autonomous robots,
drones and cars. It has business presence across the Americas, Asia-Pacific and Europe. The company
is headquartered in Santa Clara, California, the US.

The company reported revenues of (US Dollars) US$60,922 million for the fiscal year ended January
2024 (FY2024), compared to a revenue of US$26,974 million in FY2023. In FY2024, the company’s
operating margin was 54.1%, compared to an operating margin of 15.7% in FY2023. In FY2024, the
company recorded a net margin of 48.8%, compared to a net margin of 16.2% in FY2023.
Key Facts

KEY FACTS

Head Office NVIDIA Corporation

2788 San Tomas Expressway
Santa Clara
California
Santa Clara
California
USA
Phone 1 408 4862000
Fax
Web Address www.nvidia.com
Revenue / turnover (USD Mn) 60,922.0
Financial Year End January
Employees 29,600
NASDAQ Ticker NVDA

NVIDIA Corporation Page 3

Business Description

BUSINESS DESCRIPTION
NVIDIA Corporation (NVIDIA or the company) is a visual computing company. It offers graphics and
digital media processors for the gaming, professional visualization, data center and automotive markets.
The company offers products to original equipment manufacturers (OEMs), original design manufacturers
(ODMs), add-in board manufacturers, system builders, retailers, distributors, and motherboard
manufacturers. NVIDIA operates in the US, and countries in Asia Pacific, and Europe. It serves various
industries including architecture, engineering, construction & operations, consumer internet,
cybersecurity, energy, financial services, healthcare and life sciences, manufacturing, media and
entertainment, public sector, restaurants, retail and CPG, robotics, telecommunications, and
transportation.

The company classifies its business operations into two reportable segments: Graphics; and Compute
and Networking.

The company’s Graphics segment provides GeForce GPUs used in gaming and PCs, GeForce NOW
game for streaming service and related infrastructure and solutions for gaming platforms. It also offers
Quadro/NVIDIA RTX GPUs used in enterprise workstation graphics, GPU software for cloud-based visual
and virtual computing and automotive platforms for infotainment systems. In FY2023, the Graphics
segment reported revenues of US$11,906 million, which accounted for 44.1% of the company's revenue.

Under the Compute and Networking segment, the company offers data center platforms, networking and
systems for AI, HPC, electric vehicle computing platforms, cryptocurrency mining processors, automotive
AI Cockpit, autonomous driving development agreements, and vehicle solutions. It also provides Jetson
for robotics and other embedded platforms. In FY2023, the Compute and Network segment reported
revenues of US$15,068 million, which accounted for 55.9% of the company's revenue.

Geographically, NVIDIA classifies its operations into four regions: Taiwan, China (including Hong Kong),
the US, and Other Countries. In FY2023, the US accounted for 30.7% of the company's revenue, followed
by China (21.4 %), Taiwan (25.9%) and Other countries (21.9%).

NVIDIA Corporation Page 4

History

HISTORY

Contracts/Agreements

Year: 2024

In June, NVIDIA worked with Trend Micro to develop new cybersecurity tools.

Contracts/Agreements

Year: 2024

In June, Nvidia partnered with Stanford University’s Computational Imaging Group to develop lightweight
XR glasses powered by artificial intelligence.

Contracts/Agreements

Year: 2024

In June, NVIDIA and Hewlett Packard Enterprise partnered with Deloitte to develop industry-specific AI
solutions using HPE Private Cloud AI.

New Products/Services

Year: 2024

In June, Nvidia in partnership with Swisscom launched the Swiss AI Platform.

Contracts/Agreements

Year: 2024

In June, Nvidia partnered with Zscaler to provide copilot technologies that are powered by artificial
intelligence.

Contracts/Agreements

Year: 2024

In June, NVIDIA signed a deal to add its artificial intelligence technology to the data centers of Ooredoo.

Acquisitions/Mergers/Takeovers

NVIDIA Corporation Page 5

Year: 2024

In May, NVIDIA acquired Deci AI.

Contracts/Agreements

Year: 2024

In May, NVIDIA announced a collaboration with Kyndryl to enhance the development, implementation and
use of AI-powered insights and business outcomes.

Contracts/Agreements

Year: 2024

In May, NVIDIA and Microsoft expanded their collaboration to enable developers to create and deploy AI
applications more efficiently.

Contracts/Agreements

Year: 2024

In May, NVIDIA partnered with Sygnia to revolutionize cybersecurity in the energy and industrial sectors
with AI-powered edge solutions.

Contracts/Agreements

Year: 2024

In May, NVIDIA partnered with Nutanix to help enterprises more easily adopt generative AI (GenAI).

Contracts/Agreements

Year: 2024

In May, NVIDIA expanded its partnership with Industrial automation companies to offer advanced
technologies that enable manufacturing companies to digitally transform and achieve Industry 4.0 goals.

Contracts/Agreements

Year: 2024

In April, NVIDIA along with the University of Washington, and the University of Tsukuba signed a new
research partnership with Amazon to invest US$25 million in AI research.

NVIDIA Corporation Page 6

Contracts/Agreements

Year: 2024

In April, NVIDIA entered into a partnership with FPT to construct the US$200 million AI factory.

New Products/Services

Year: 2024

In April, NVIDIA introduced the RTX A400 and RTX A1000 GPUs.

Contracts/Agreements

Year: 2024

In April, NVIDIA entered into a partnership with the Singapore Institute of Technology to launch its new
Centre for AI.

Contracts/Agreements

Year: 2024

In April, NVIDIA entered into an agreement to acquire Run:ai.

Contracts/Agreements

Year: 2024

In April, NVIDIA entered into a partnership with the Singapore Institute of Technology to launch its new
Centre for AI.

Financing Agreements

Year: 2024

In March, NVIDIA invested in Ubitus K.K., a provider of cloud gaming technology and solutions.

Contracts/Agreements

Year: 2024

In March, NVIDIA extended its partnership with Microsoft Corp. to bring generative AI, cloud and
accelerated computing to healthcare and life sciences.

NVIDIA Corporation Page 7

Contracts/Agreements

Year: 2024

In March, NVIDIA entered into a partnership with Cohesity to provide organizations with safely unlocking
the power of generative AI and data.

Contracts/Agreements

Year: 2024

In March, NVIDIA entered into a partnership with Spire Global, Inc. to improve AI-driven weather
prediction.

Contracts/Agreements

Year: 2024

In March, NVIDIA in collaboration with Lenovo launched new hybrid AI solutions.

New Products/Services

Year: 2024

In March, NVIDIA launched the NVIDIA DGX SuperPOD.

Contracts/Agreements

Year: 2024

In March, NVIDIA entered into an agreement with Hippocratic AI to create empathetic AI healthcare
agents powered by the NVIDIA AI platform.

Contracts/Agreements

Year: 2024

In March, NVIDIA entered into a partnership with Segway Robotics to launch a new developer kit.

Contracts/Agreements

Year: 2024

In March, NVIDIA entered into an agreement with GV20 Therapeutics to develop AI models for

NVIDIA Corporation Page 8

discovering novel therapeutic antibodies.

New Products/Services

Year: 2024

In March, NVIDIA launched software tools to enable businesses to integrate AI systems into their
workflows.

New Products/Services

Year: 2024

In March, NVIDIA introduced the NVIDIA 6G Research Cloud platform.

Contracts/Agreements

Year: 2024

In March, Nvidia and IBM entered into a partnership with Luxcore to integrate an AI and ML stack onto its
decentralized and distributed cloud platform.

New Products/Services

Year: 2024

In March, NVIDIA introduced Quantum Cloud, a cloud service for quantum computing exploration.

Contracts/Agreements

Year: 2024

In March, Nvidia and Google Cloud extended their partnership to support the machine learning
community by providing technology that enhances the development, scalability, and management of
generative AI applications.

Contracts/Agreements

Year: 2024

In March, NVIDIA expanded its multi-year partnership with Cadence Design Systems to launch two
transformative solutions to reinvent design using accelerated computing and generative AI.

Contracts/Agreements

NVIDIA Corporation Page 9

Year: 2024

In March, NVIDIA and Accenture partnered to create AI-powered immersive experiences for Land Rover's
Defender.

Contracts/Agreements

Year: 2024

In March, NVIDIA announced a collaboration with Hitachi to advance social innovation and digital
transformation.

Contracts/Agreements

Year: 2024

In March, NVIDIA and HP Inc collaborated to integrate NVIDIA CUDA-X data processing libraries into HP
AI workstation solutions.

Contracts/Agreements

Year: 2024

In February, NVIDIA partnered with ServiceNow to unveil telco-specific generative AI solutions to elevate
service experiences.

New Products/Services

Year: 2024

In February, NVIDIA along with Hugging Face, and ServiceNow launched StarCoder2.

Others

Year: 2024

In February, NVIDIA joined the National Institute of Standards and Technology’s U.S. Artificial Intelligence
Safety Institute Consortium to advance safe, secure, and trustworthy AI.

Contracts/Agreements

Year: 2024

In February, NVIDIA and Fujitsu partnered with NTT Corporation and Red Hat to develop a new solution
focused on improving real-time artificial intelligence data analysis at the network edge.

NVIDIA Corporation Page 10

Contracts/Agreements

Year: 2024

In February, NVIDIA entered into a collaboration with TD SYNNEX marking the continued expansion of AI
offerings by TD SYNNEX.

Contracts/Agreements

Year: 2024

In February, NVIDIA along with others partnered with Palo Alto Networks to provide integrated and built-in
private 5G security services.

Contracts/Agreements

Year: 2024

In January, NVIDIA entered into a partnership with Singtel to introduce artificial intelligence capabilities in
its data centers in Southeast Asia.

Others

Year: 2023

In December, NVIDIA announced that SiBORG Lab elevated the approach to accessibility using
OpenUSD and NVIDIA Omniverse.

New Products/Services

Year: 2023

In December, NVIDIA launched RTX 4090D chip in China.

Contracts/Agreements

Year: 2023

In December, NVIDIA collaborated with YTL Power to set up artificial intelligence infrastructure in
Malaysia.

Contracts/Agreements

Year: 2023

NVIDIA Corporation Page 11

In November, NVIDIA expanded its partnership with Amazon Web Services to provide improved
infrastructure, software, and services to enhance customers’ generative artificial intelligence (AI)
innovations.

Contracts/Agreements

Year: 2023

In November, NVIDIA and Flywheel and Microsoft collaborated to Advance Microsoft Azure's End-to-End
AI Development Platform.

Contracts/Agreements

Year: 2023

In November, NVIDIA expanded its collaboration with Hewlett Packard Enterprise to offer a
supercomputing solution for generative AI designed for large enterprises, research institutions, and
government organizations.

Contracts/Agreements

Year: 2023

In November, NVIDIA collaborated with Cloudera to allow customers to construct and deploy top-of-the-
line applications for artificial intelligence with increased efficiency.

Contracts/Agreements

Year: 2023

In November, NVIDIA entered into a partnership with IQM Quantum Computers to revolutionize quantum
processing unit programming.

Contracts/Agreements

Year: 2023

In November, NVIDIA partnered with Advanced Micro Devices and launched a new MR headset XTAL 3
CAVU.

Contracts/Agreements

Year: 2023

NVIDIA Corporation Page 12

In November, NVIDIA entered into a collaboration with Lenovo Group and released the power of AI to
drive intelligent transformation in every aspect of everyday life and in every industry.

Contracts/Agreements

Year: 2023

In November, NVIDIA entered a research collaboration with Genentech that couples Genentech’s artificial
intelligence capabilities, and extensive biological and molecular datasets.

Contracts/Agreements

Year: 2023

In November, NVIDIA entered into a collaboration with Wipro Ltd to help healthcare companies
accelerate the adoption of generative artificial intelligence through AI-driven strategies, products, and
services.

Contracts/Agreements

Year: 2023

In October, NVIDIA and Foxconn entered into a collaboration to build a new autonomous vehicle platform
for electric cars.

New Products/Services

Year: 2023

In October, NVIDIA announced the availability of the NVIDIA DGX Cloud AI supercomputing platform and
NVIDIA AI Enterprise software in the Oracle Cloud Marketplace.

Contracts/Agreements

Year: 2023

In October, NVIDIA and Cisco entered into a partnership to deliver artificial intelligence-powered meetings
for workers working in hybrid mode.

Contracts/Agreements

Year: 2023

In October, NVIDIA and Lenovo Group expanded their partnership to bring the power of generative AI to
every enterprise.

NVIDIA Corporation Page 13

Contracts/Agreements

Year: 2023

In September, NVIDIA partnered with RIL to advance AI in India.

Contracts/Agreements

Year: 2023

In September, NVIDIA announced a collaboration with Reliance Industries to develop artificial

intelligence-based applications for India.

Contracts/Agreements

Year: 2023

In August, NVIDIA collaborated with Microsoft to integrate PC Game Pass and Microsoft Store titles into
NVIDIA's GeForce Now streaming service.

New Products/Services

Year: 2023

In August, NVIDIA launched NVIDIA DLSS 3.5.

New Products/Services

Year: 2023

In August, NVIDIA launched NeMo SteerLM at Gamescom.

New Products/Services

Year: 2023

In August, NVIDIA introduced an upgraded configuration for its advanced artificial intelligence chips.

Contracts/Agreements

Year: 2023

In August, NVIDIA expanded its partnership with Deloitte under which Deloitte will use NVIDIA AI
technology and expertise to build high-performing generative AI solutions for enterprise software

NVIDIA Corporation Page 14

platforms.

Contracts/Agreements

Year: 2023

In August, NVIDIA Omniverse Cloud along with WPP collaborated with DENZA to build and deploy next
generation of car configurators.

Contracts/Agreements

Year: 2023

In August, NVIDIA entered into a partnership with Hugging Face to expand access to AI compute.

New Products/Services

Year: 2023

In August, NVIDIA launched NVIDIA L40S.

New Products/Services

Year: 2023

In August, NVIDIA and global manufacturers announced powerful new NVIDIA RTX workstations.

New Products/Services

Year: 2023

In August, NVIDIA launched the NVIDIA RTX 5000, RTX 4500 and RTX 4000.

Contracts/Agreements

Year: 2023

In August, NVIDIA, Adobe, and Autodesk entered a collaboration with Apple for OpenUSD, to provide
visionOS developers with a more robust set of 3D tools.

Contracts/Agreements

Year: 2023

In August, Nvidia along with Dell Technologies entered into a partnership with Rackspace Technology to

NVIDIA Corporation Page 15

offer customers access to the full-stack infrastructure, software and expertise needed to run advanced AI
models.

New Products/Services

Year: 2023

In August, NVIDIA launched next-generation of Nvidia GH200 Grace Hooper platform.

Contracts/Agreements

Year: 2023

In August, NVIDIA announced a collaboration with Hesai Technology to integrate Hesai’s cutting-edge
lidar sensors within the NVIDIA DRIVE and NVIDIA Omniverse ecosystems.

Contracts/Agreements

Year: 2023

In July, NVIDIA's NVIDIA H100 Tensor Core GPUs was used by Amazon EC2 P5 instance to deliver the
better performance for generative AI and more.

Contracts/Agreements

Year: 2023

In July, NVIDIA entered into a partnership with Snowflake to build and generate AI apps in its data cloud.

Contracts/Agreements

Year: 2023

In July, NVIDIA entered into a partnership with Sinequa to make full use of generative AI within an
enterprise setting by pairing it with Sinequa’s Neural Search.

Contracts/Agreements

Year: 2023

In July, Nvidia entered into a partnership with Cirrus Networks to collaborate on artificial intelligence-
driven technologies.

Plans/Strategy

NVIDIA Corporation Page 16

Year: 2023

In July, NVIDIA announced its plans to invest in Arm Ltd.

Contracts/Agreements

Year: 2023

In July, NVIDIA and Intel joined in a coopetition collaboration for confidential computing solutions
targeting AI workloads.

New Products/Services

Year: 2023

In June, NVIDIA unveiled a series of cutting-edge testing tools.

Contracts/Agreements

Year: 2023

In June, NVIDIA partnered with Snowflake to allow customers ranging from financial institutions to
healthcare and retail to build AI models using their own data.

Contracts/Agreements

Year: 2023

In June, NVIDIA announced a collaboration with Hexagon AB to enable industrial digital twin solutions
that unite reality capture, manufacturing twins, AI, simulation and visualisation to deliver real-time
comparison to real-world models.

Contracts/Agreements

Year: 2023

In May, NVIDIA and SoftBank Corp announced to collaborate on a pioneering platform for generative AI
and 5G/6G applications.

Contracts/Agreements

Year: 2023

In May, NVIDIA announced a partnership with MediaTek to deliver a complete range of in-vehicle AI
cabin solutions for the next generation of software-defined vehicles.

NVIDIA Corporation Page 17

Plans/Strategy

Year: 2023

In May, NVIDIA announced its plans to build powerful artificial intelligence (AI) supercomputer in Israel.

Contracts/Agreements

Year: 2023

In May, NVIDIA and WPP developed a content engine that harnesses NVIDIA Omniverse and AI to
enable creative teams to produce high-quality commercial content faster.

Contracts/Agreements

Year: 2023

In May, NVIDIA and ServiceNow entered into a partnership to develop generative AI capabilities that
transform business processes.

New Products/Services

Year: 2023

In March, NVIDIA released new GPU drivers.

Contracts/Agreements

Year: 2023

In March, NVIDIA extended its collaboration with Oracle to include running strategic NVIDIA AI
applications on the new Oracle Cloud Infrastructure (OCI) Supercluster.

Acquisitions/Mergers/Takeovers

Year: 2023

In February, NVIDIA announced the acquisition of OmniML, an edge optimisation platform.

New Products/Services

Year: 2023

In November, NVIDIA launched NVIDIA Spectrum-X Ethernet networking technologies for AI to be

NVIDIA Corporation Page 18

integrated into the server lineups of Dell Technologies, Hewlett Packard Enterprise and Lenovo to help
enterprise customers speed up generative AI workloads.

New Products/Services

Year: 2023

In November, NVIDIA launched NVIDIA NeMo Retriever, a generative AI microservice that lets
enterprises connect custom large language models to enterprise data to deliver highly accurate
responses for their AI applications.

New Products/Services

Year: 2023

In November, NVIDIA Launched the NVIDIA H200 Tensor Core GPU to supercharge the world’s leading
AI computing platform to handle massive amounts of data for generative AI and high-performance
computing workloads.

Contracts/Agreements

Year: 2022

In December, NVIDIA and Deutsche Bank entered into a partnership to accelerate the use of AI and
machine learning in the financial services sector.

Contracts/Agreements

Year: 2022

In November, Nvidia and Microsoft entered into a collaboration to build AI supercomputers.

Contracts/Agreements

Year: 2022

In November, NVIDIA and Cepton partnered to add its lidars into NVIDIA DRIVE Sim (TM).

Others

Year: 2022

In November, NVIDIA announced its exit from the Russian market.

Plans/Strategy

NVIDIA Corporation Page 19

Year: 2022

In November, NVIDIA announced its plans to launch lower-spec AI GPU for sales to China.

New Products/Services

Year: 2022

In November, NVIDIA introduced A800 data-center GPU for China.

Contracts/Agreements

Year: 2022

In November, NVIDIA teamed up with Rescale to integrate the NVIDIA AI platform into Rescale's HPC-
as-a-Service offering.

Contracts/Agreements

Year: 2022

In October, NVIDIA and Zvision signed an agreement to advance lidar AI technology.

Business / Operations Closure

Year: 2022

In October, NVIDIA announced to cease all activities in Russia.

Financing Agreements

Year: 2022

In September, NVIDIA's NVentures invested US$15 million in PassiveLogic.

Contracts/Agreements

Year: 2022

In August, NVIDIA announced a new data center solution with Dell Technologies designed for the era of
AI, bringing state-of-the-art AI training, AI inference, data processing, data science and zero-trust security
capabilities to enterprises worldwide.

Contracts/Agreements

NVIDIA Corporation Page 20

Year: 2022

In August, NVIDIA entered into a partnership with Ingram Micro under which Ingram Micro will sell and
promote NVIDIA’s high-performance networking technology in the Middle East, Turkey and Africa.

Contracts/Agreements

Year: 2022

In June, NVIDIA and Siemens AG signed a partnership agreement to create an industrial metaverse.

New Products/Services

Year: 2022

In June, NVIDIA launched its graphics card, the GeForce GTX 1630.

Contracts/Agreements

Year: 2022

In May, NVIDIA and NetApp teamed to accelerate HPC and AI with turnkey supercomputing
infrastructure.

Acquisitions/Mergers/Takeovers

Year: 2022

In March, NVIDIA acquired a software-defined storage technology developer, Excelero.

Others

Year: 2022

In February, NVIDIA announced the termination of previously announced acquisition of Arm Ltd.

Contracts/Agreements

Year: 2022

In January, NVIDIA and LG Electronics teamed up to offer new LG 2021 4K Smart TV owners in select
markets free priority membership to NVIDIA GeForce NOW for six months.

Others

NVIDIA Corporation Page 21

Year: 2022

In January, NVIDIA's RTX Virtual Workstation and Taylor James announced a cloud-based solution to
maintain efficiency and productivity even while working remotely.

Acquisitions/Mergers/Takeovers

Year: 2022

In January, NVIDIA acquired Bright Computing, a software company.

Contracts/Agreements

Year: 2022

In January, the company entered into an agreement with Deloitte to offer a range of services for data
generation, collection, ingestion, curation, labeling and deep neural network training with NVIDIA DGX
SuperPOD.

New Products/Services

Year: 2022

In January, the company introduced Isaac Autonomous Mobile Robot (AMR) platform to enhance
operational efficiency and accelerate installation of AMRs.

New Products/Services

Year: 2022

In January, the company launched more than 160 gaming and Studio GeForce based laptop designs and
new desktop and laptop GeForce RTX GPUs and technologies.

New Products/Services

Year: 2021

In December, the company introduced 20 new games into GeForce NOW library.

Contracts/Agreements

Year: 2021

In November, NVIDIA and Atos SE announced the Excellence AI Lab (EXAIL) to bring together scientists

NVIDIA Corporation Page 22

and researchers to help advance European computing technologies, education and research.

New Products/Services

Year: 2021

In November, the company introduced NVIDIA Jetson AGX Orin, the world’s smallest, most powerful and
energy-efficient AI supercomputer for robotics, autonomous machines, medical devices and other forms
of embedded computing at the edge.

Contracts/Agreements

Year: 2021

In November, NVIDIA entered into a collaboration with Google Quantum AI, IBM and others to help speed
up quantum research.

Contracts/Agreements

Year: 2021

In November, Nvidia and Tata Consultancy Services collaborated with Domino Data Lab to develop
advanced computing managed service.

New Products/Services

Year: 2021

In November, the company launched NVIDIA Flare, a software development kit.

Contracts/Agreements

Year: 2021

In November, the company entered into partnership with Google Cloud to create bridge linking the tools
of data science to the muscle of the cloud with one click.

New Products/Services

Year: 2021

In November, the company introduced latest version of GauGAN model, GauGAN2.

Contracts/Agreements

NVIDIA Corporation Page 23

Year: 2021

In November, the company entered into an agreement Siemens to develop industrial digital twin of power
plant in Omniverse.

Contracts/Agreements

Year: 2021

In November, NVIDIA along with Lockheed Martin entered into a partnership with the U.S. Department of
Agriculture Forest Service and Colorado Division of Fire Prevention and Control to fight wildfires using AI.

Contracts/Agreements

Year: 2021

In November, the company along with Lockheed Martin entered into a partnership With U.S. Department
of Agriculture Forest Service and Colorado Division of Fire Prevention and Control to fight wildfires using
AI.

Acquisitions/Mergers/Takeovers

Year: 2021

In October, NVIDIA acquired Oski Technology, a formal verification firm.

Acquisitions/Mergers/Takeovers

Year: 2021

In August, NVIDIA acquired DeepMap, a software company.

Contracts/Agreements

Year: 2021

In July, NVIDIA enhanced its partnership with PNY Technologies for extending its solutions portfolio into
accelerating compute and cloud data.

Others

Year: 2021

In June, NVIDIA submitted application to china regulators to get approval for its US$40 billion takeover of
UK chip designer Arm.

NVIDIA Corporation Page 24

Plans/Strategy

Year: 2021

In June, Nvidia announced its plans to invest US$100 million in new supercomputer in the UK.

Contracts/Agreements

Year: 2021

In June, NVIDIA Corporation entered into a partnership with Google Cloud to establish an AI-on-5G
Innovation Lab to develop, test, and adopt solutions that will help accelerate the creation of smart cities,
smart factories, and other advanced 5G and AI applications.

New Products/Services

Year: 2021

In June, NVIDIA and Global Partners announced to launch HGX A100 systems to accelerate industrial AI
and HPC system.

New Products/Services

Year: 2021

In April, NVIDIA launched the Omniverse design collaboration and simulation platform, NVIDIA
Omniverse Enterprise.

Contracts/Agreements

Year: 2021

In April, NVIDIA and Cloudera entered into a collaboration to accelerate data analytics and AI.

Contracts/Agreements

Year: 2021

In April, NVIDIA and Schrodinger entered into a partnership to harness NVIDIA DGX A100 systems to
evaluate molecules for the potential development of therapeutics.

Contracts/Agreements

Year: 2021

NVIDIA Corporation Page 25

In March, NVIDIA entered into a partnership with Deloitte to launch the Deloitte Center for AI Computing.

Contracts/Agreements

Year: 2021

In February, NVIDIA Partner Network joined by Systel Inc as a preferred solutions integrator partner for
high performance computing and visualization products and technologies.

Contracts/Agreements

Year: 2021

In January, NVIDIA and Nio Inc., entered into a partnership to develop a new generation of automated
driving electric vehicles.

Contracts/Agreements

Year: 2020

In December, NVIDIA’s NVIDIA Inception was joined by MakinaRocks to support the accelerated
development of MakinaRocks's new AI solutions for reliable manufacturing environments and operations.

New Products/Services

Year: 2020

In November, the company launched the next generation of NVIDIA Mellanox 400G InfiniBand.

New Products/Services

Year: 2020

In November, NVIDIA and Hyundai Motor announced to launch the NVIDIA DRIVE connected car
platform across all new models from Kia, Hyundai and Genesis from 2022 onwards.

New Products/Services

Year: 2020

In November, the company launched the NVIDIA A100 80GB GPU for AI supercomputing.

New Products/Services

NVIDIA Corporation Page 26

Year: 2020

In November, the company launched NVIDIA DGX Station A100 an integrated workgroup server.

New Products/Services

Year: 2020

In October, the company introduced the NVIDIA Maxine platform, a GPU-accelerated AI platform.

New Products/Services

Year: 2020

In October, the company introduced the NVIDIA DGX SuperPOD solution for enterprise.

Contracts/Agreements

Year: 2020

In October, the company entered into a partnership with GSK and its AI group to discover medicines and
vaccines.

New Products/Services

Year: 2020

In October, the company introduced the Jetson Nano 2GB developer kit.

Contracts/Agreements

Year: 2020

In October, NVIDIA entered into a partnership with Saudi operator STC to build Saudi Arabia’s first AI and
deep learning cloud infrastructure to adopt AI.

Contracts/Agreements

Year: 2020

In October, NVIDIA entered into a partnership with Cineca and Atos to launch the fastest AI
supercomputer for a variety of high-performance computing tasks.

Contracts/Agreements

NVIDIA Corporation Page 27

Year: 2020

In October, NVIDIA entered into a partnership with Proact to provide opportunities for customers to
leverage modern AI systems.

Contracts/Agreements

Year: 2020

In October, NVIDIA and VMware entered into a partnership to bring artificial intelligence, hybrid cloud to
enterprises.

New Products/Services

Year: 2020

In September, the company introduced GeForce RTX 30 Series GPUs.

Contracts/Agreements

Year: 2020

In September, NVIDIA entered into an agreement to acquire Arm Ltd from SBG and the SoftBank Vision
Fund for US$40 billion.

Contracts/Agreements

Year: 2020

In August, NVIDIA entered into a partnership with ADLINK to introduce trends and complete solutions for
AI edge computing.

Plans/Strategy

Year: 2020

In July, NVIDIA and University of Florida announced their plans to build AI supercomputer in academia to
offer 700 petaflops of AI performance.

Corporate Changes/Expansions

Year: 2020

In July, NVIDIA announced to introduce technology centre at the Indian Institute of Technology to
accelerate research in AI and commercial adoption.

NVIDIA Corporation Page 28

Contracts/Agreements

Year: 2020

In July, NVIDIA and Google entered into a partnership on new cloud computing services.

Contracts/Agreements

Year: 2020

In June, NVIDIA and Mercedes-Benz entered into a partnership to deliver software-defined vehicles with
autonomous driving functions.

New Products/Services

Year: 2020

In May, NVIDIA launched new products for its EGX Edge AI platform - the EGX A100 for larger
commercial off-the-shelf servers and EGX Jetson Xavier NX for micro-edge servers.

Contracts/Agreements

Year: 2020

In May, the company and IBM entered into a collaboration to accelerate the deployment of edge
networks.

Plans/Strategy

Year: 2020

In May, NVIDIA announced its plans to acquire Cumulus Networks, an open-source-centric company.

Regulatory Approval

Year: 2020

In April, NVIDIA secured Chinese approval to Acquire 100% stake in Mellanox Technologies for value of
US$6.9 billion.

Acquisitions/Mergers/Takeovers

Year: 2020

NVIDIA Corporation Page 29

In April, Nvidia acquired Mellanox Technologies Ltd.

New Products/Services

Year: 2020

In March, the company launched the RTX 2070 Super and RTX 2070 Super, new mobile graphics cards.

Acquisitions/Mergers/Takeovers

Year: 2020

In March, NVIDIA acquired SwiftStack Inc, a provider of data storage and management solutions for the
enterprise.

New Products/Services

Year: 2020

In February, the company launched the new GeForce Now service, a cloud gaming service, in North
America and Europe.

New Products/Services

Year: 2020

In January, the company launched the new G-SYNC displays with a 360Hz refresh rate.

Regulatory Approval

Year: 2019

In December, NVIDIA secured approval from the European Union to acquire a 100% stake in Mellanox
Technologies, for US$6.9 billion.

Acquisitions/Mergers/Takeovers

Year: 2019

In December, the company acquired Parabricks, a sequencing analysis software firm.

New Products/Services

Year: 2019

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In December, the company launched Orin, a new SoC for autonomous vehicles and robots.

New Products/Services

Year: 2019

In November, Nvidia announced to incorporate NVIDIA RAPIDS, a GPU-acceleration boost for machine
learning for predictive analytics.

Contracts/Agreements

Year: 2019

In November, NVIDIA and the U.S. Postal Service entered into a partnership, in which the U.S Postal
Service will use Nvidia's artificial intelligence technology to improve the efficiency of package data
processing.

New Products/Services

Year: 2019

In November, NVIDIA introduced NVIDIA Magnum IO, a suite of software to help data scientists and
artificial intelligence and high performance computing researchers.

Plans/Strategy

Year: 2019

In November, the company to build GPU-Accelerated Arm Servers for New Era of Diverse HPC
Architectures.

Contracts/Agreements

Year: 2019

In November, NVIDIA and Kinetica entered into a collaboration to impose data-driven decision-making
across the organization.

Contracts/Agreements

Year: 2019

In October, NVIDIA and Microsoft entered into a collaboration on intelligent edge computing.

Contracts/Agreements

NVIDIA Corporation Page 31

Year: 2019

In October, the company expanded its partnership with Red Hat to develop a 5G wireless infrastructure
RAN.

Contracts/Agreements

Year: 2019

In October, the company and Ericsson partnered to build virtualized 5G radio access networks.

Contracts/Agreements

Year: 2019

In August, NVIDIA partnered with VMware to advance GPU services.

New Products/Services

Year: 2019

In June, Nvidia announced to introduce DGX SuperPOD supercomputer to offer AI infrastructure for the
development of self-driving cars.

Contracts/Agreements

Year: 2019

In June, NVIDIA and CD Projekt entered into a partnership to bring ray tracing to Cyberpunk 2077.

New Products/Services

Year: 2019

In May, Nvidia launched the new Drive AGX platform, which provides applications needed for the
production level autonomous vehicles.

Contracts/Agreements

Year: 2019

In April, NVIDIA and Pivot3 extended their partnership to deliver comprehensive solutions for securing
campuses, airports, cities and mass transit.

NVIDIA Corporation Page 32

Contracts/Agreements

Year: 2019

In February, the company partnered with Mercedes-Benz for new Automotive AI platform.

Contracts/Agreements

Year: 2019

In January, the company selected Colovore as a colocation partner to support NVIDIA DGX Systems
deployments.

Contracts/Agreements

Year: 2019

In January, the company collaborated with Autodesk, RED to Bring 3D Animation, 6K Video Editing to
Laptops.

New Products/Services

Year: 2019

In January, the company announced the availability of Level 2+ automated driving system, NVIDIA
DRIVE AutoPilot.

Corporate Changes/Expansions

Year: 2019

In January, the company announced to expand its gaming footprint in India by adding 100 gaming cafes.

Contracts/Agreements

Year: 2018

In November, JD.com entered into a contract with NVIDIA to power autonomous delivery robots with
NVIDIA Jetson AGX Xavier platform.

Others

Year: 2018

In October, Oracle announced to provide support the NVIDIA HGX-2 platform on its cloud infrastructure to

NVIDIA Corporation Page 33

meet the needs of the next generation of analytics, machine learning and AI.

Contracts/Agreements

Year: 2018

In October, NVIDIA partnered with Scripps Research Translational Institute to develop AI tools using
genomic and digital health sensor data.

Contracts/Agreements

Year: 2018

In October, NVIDIA partnered with King’s College London to build AI Infrastructure in the Clinic by offering
its NVIDIA DGX-2 and NVIDIA Clara platform.

New Products/Services

Year: 2018

In October, the company expanded its GeForce RTX series with the launch of GeForce GTX 1060 With
6GB GDDR5X SDRAM.

Contracts/Agreements

Year: 2018

In October, NVIDIA entered into a collaboration with Fujitsu to provide computing power for advanced
artificial intelligence (AI) projects.

Contracts/Agreements

Year: 2018

In October, NVIDIA partnered with DDN, a provider of storage solutions, to integrate DDN's data centers
with storage and compute solutions for AI and deep learning (DL) workloads.

Contracts/Agreements

Year: 2018

In September, Nvidia partnered with Baker Hughes to utilize AI and GPU-accelerated computing to help
the oil and gas industry.

New Products/Services

NVIDIA Corporation Page 34

Year: 2018

In September, the company introduced Clara Platform combined with powerful algorithmic capabilities to
run modern applications.

Contracts/Agreements

Year: 2018

In September, NVIDIA entered into a collaboration with Musashi, Fanuc, Komatsu, and Kawada
Technologies to provide its Jetson AGX Xavier for next-generation autonomous machines.

New Products/Services

Year: 2018

In September, NVIDIA introduced new Drive AGX Developer Kits for automated driving.

New Products/Services

Year: 2018

In September, Nvidia launched a 16GB RTX 2080 lite to fuel the AI revolution.

New Products/Services

Year: 2018

In September, Nvidia announced the launch of Tesla T4 GPU, for datacenter.

Contracts/Agreements

Year: 2018

In September, Nvidia teamed up with MapD Technologies and Pure Storage to deliver a complete
packaged solution to unlock the power of big data analytics.

Plans/Strategy

Year: 2018

In September, Nvidia and LG Electronics planned to collaborate for autonomous driving applications.

Plans/Strategy

NVIDIA Corporation Page 35

Year: 2018

In August, the company announced its plans to open GeForce Esports Boot Camps in Munich and
Shanghai.

New Products/Services

Year: 2018

In August, the company launched NVIDIA GPU Cloud, a 5 GPU-accelerated high-performance computing
unit, to the Microsoft Azure cloud.

Contracts/Agreements

Year: 2018

In August, the company entered into a partnership with NetApp to create NetApp ONTAP AI architecture
based on NVIDIA DGX supercomputers and NetApp AFF A800 all-flash storage.

New Products/Services

Year: 2018

In August, the company launched the Turing GPU architecture, an advanced machine for real-time ray
trace for professional users.

Contracts/Agreements

Year: 2018

In July, the company entered into a contract with Daimler to introduce self-driving taxis on the road.

Contracts/Agreements

Year: 2018

In July, NVIDIA collaborated with the Defense Advanced Research Projects Agency, for Post-Moore’s
Law Era.

Contracts/Agreements

Year: 2018

In June, the company planned to open a new AI research lab in Toronto.

NVIDIA Corporation Page 36

Contracts/Agreements

Year: 2018

In June, the company in collaboration with Volkswagen Group of America (VWGoA), Aquantia
Corporation, Continental and Bosch Ltd formed a Network for Autonomous Vehicles (NAV), to drive the
ecosystem development required for the next generation of Multi-Gig Ethernet networking in vehicles.

New Products/Services

Year: 2018

In April, the company has unveiled the new chips at the company's SIGGRAPH 2018 event in Vancouver,
Canada.

Contracts/Agreements

Year: 2018

In April, NVIDIA partnered with Canon Medical Systems to accelerate deep learning in healthcare.

New Products/Services

Year: 2018

In March, AnyVision joined with the NVIDIA's Metropolis Software Partner Program (MSPP) to
revolutionizes security by combining NVIDIA GPUs technology with robust face and human recognition
platform.

Contracts/Agreements

Year: 2018

In March, NVIDIA selected deepsense.ai as a preferred partner for its NVIDIA Service Delivery Partner
Program to provide professional services in deep learning.

New Products/Services

Year: 2018

In March, NVIDIA launched Volta-based GV 100 for workstations for deep learning in hyperscale
datacenters.

New Products/Services

NVIDIA Corporation Page 37

Year: 2018

In March, the company announced that HTC VIVE Pro headset with VR-Ready Quadro and GeForce
GPUs improves image quality, immersion.

New Products/Services

Year: 2018

In March, NVIDIA introduced DRIVE constellation, a computing platform for testing autonomous vehicles.

New Products/Services

Year: 2018

In March, NVIDIA introduced deep learning computing platform, to bring 10x Performance gain in six
months.

Contracts/Agreements

Year: 2018

In March, NVIDIA and Arm partnered to enhance deep learning to billions of IoT devices.

New Products/Services

Year: 2018

In March, NVIDIA introduced virtual reality autonomous vehicle simulator.

New Products/Services

Year: 2018

In March, NVIDIA introduced Isaac SDK platform to accelerate creation of autonomous machines.

Contracts/Agreements

Year: 2018

In February, NVIDIA and Torc collaborated on self-driving technology.

Contracts/Agreements

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Year: 2018

In February, NVIDIA and Continental partnered for the production of AI self-driving cars built on the
NVIDIA DRIVE platform.

Contracts/Agreements

Year: 2018

In January, NVIDIA partnered with Maxim Integrated Products to support the NVIDIA DRIVE Pegasus
platform and NVIDIA DRIVE Xavier for level 4 driving.

New Products/Services

Year: 2018

NVIDIA launched the Isaac software development kit.

Contracts/Agreements

Year: 2018

The company entered into a partnership with Arm to bring deep learning to billions of mobile, consumer
electronics and Internet of Things devices that will enter the global marketplace.

New Products/Services

Year: 2017

In December, NVIDIA introduced TITAN V to transforms the PC into AI supercomputer.

Contracts/Agreements

Year: 2017

In December, the company was selected by Komatsu, for deploying AI to create safer, more efficient
construction sites.

New Products/Services

Year: 2017

In November, NVIDIA and Nuance Communications, Inc., partnered to advance artificial intelligence for
radiology.

NVIDIA Corporation Page 39

Contracts/Agreements

Year: 2017

In September 2017, NVIDIA entered into partnership agreement with Tencent and Leadtek to provide
Artificial Intelligence training to developers, researchers and data scientists.

Plans/Strategy

Year: 2017

In August, NVIDIA plans to invest more than US$20 million in TuSimple.

New Products/Services

Year: 2017

In August, NVIDIA launched Quadro virtual data center workstation software.

Contracts/Agreements

Year: 2017

In August, the company, HP Inc entered into a partnership with Autodesk, Fusion, Launch Forth,
Technicolor, Unreal Engine and VIVE, to launch HP Mars Home Planet.

New Products/Services

Year: 2017

In July, NVIDIA announced to introduce OptiX 5.0 SDK to offer rendering performance with powerful new
ray-tracing capabilities.

New Products/Services

Year: 2017

In July, the company introduced artificial emotional intelligence to web.

New Products/Services

Year: 2017

In July, the company introduced NVIDIA GRID virtualization platform and NVIDIA Tesla M60 GPU
accelerators to fuel cloud-based workstation experience of Amazon Web services.

NVIDIA Corporation Page 40

Contracts/Agreements

Year: 2017

In July, NVIDIA signed a partnership with Baidu for implementing artificial intelligence technology to
incorporate in self-driving vehicles ,AI home assistants and cloud base date centers.

Contracts/Agreements

Year: 2017

In June, NVIDIA formed a partnership with ZF and HELLA to deliver artificial intelligence technology for
self-driven vehicles.

New Products/Services

Year: 2017

In June, NVIDIA, Bungie, and Activision partnered to introduce the Destiny franchise to PC.

Contracts/Agreements

Year: 2017

In June, Volvo Car Corporation and Autoliv, Inc. partnered with NVIDIA to offer advanced systems for
self-driving cars.

New Products/Services

Year: 2017

In May, NVIDIA introduced Max-Q for gaming laptops.

Contracts/Agreements

Year: 2017

In May, NVIDIA and SK Telecom paired up to develop self-driving car technologies.

New Products/Services

Year: 2017

In May, NVIDIA introduced DGX AI supercomputers to advance AI research.

NVIDIA Corporation Page 41

Contracts/Agreements

Year: 2017

In May, the company collaborated with Toyota to accelerate market introduction of autonomous cars.

Contracts/Agreements

Year: 2017

In May, the company and SAP partnered to create a new wave of AI business applications.

New Products/Services

Year: 2017

In May, NVIDIA launched GPU cloud platform to simplify AI development.

New Products/Services

Year: 2017

In May, NVIDIA launched revolutionary volta GPU platform.

New Products/Services

Year: 2017

In May, NVIDIA released VRWorks Audio and 360 Video SDKs.

Contracts/Agreements

Year: 2017

In April, NVIDIA and Times Centre for Learning entered into a Memorandum of Understanding for the
collaboration to conduct Instructor led, for accelerating deep learning & AI education.

Contracts/Agreements

Year: 2017

March, the company and Bosch partnered for the development of artificial intelligence (AI) self-driving
systems for mass market cars based on NVIDIA's DRIVE PX technology.

NVIDIA Corporation Page 42

Contracts/Agreements

Year: 2017

In February, NVIDIA and Trace3 partnered to offer accelerated computing and machine learning.

Others

Year: 2017

In January, the company announced that its Quadro GPUs used by mobile workstations from Dell, HPI,
Lenovo, Fujitsu and MSI.

New Products/Services

Year: 2016

In December, NVIDIA launched gaming laptops with GTX 1050 & 1050 Ti graphics.

New Products/Services

Year: 2016

In December, the company launched gaming laptops with GTX 1050 & 1050 Ti graphics.

New Products/Services

Year: 2016

In September 2016, the company launched a palm-sized artificial intelligence (AI) computer, New DRIVE
PX 2 Al computing platform which enables vehicles to use deep neural networks to process data from
multiple cameras and sensors.

Contracts/Agreements

Year: 2016

In August 2016, Microsoft selected the NVIDIA Tesla M60 platform with GRID and Tesla K80 GPU
accelerators for its N-Series Virtual Machines in Azure. In the same month, Baidu partnered NVIDIA to
deploy artificial intelligence in a cloud-to-car autonomous car platform for local Chinese and global car
makers.

Contracts/Agreements

Year: 2016

NVIDIA Corporation Page 43

In June 2016, the company collaborated with New York University (NYU) to accelerate the development
of autonomous vehicles. The company partnered with SMI to develop a technique that matches the
physiology of the human eye to heighten visual fidelity in VR using SMI’s eye-tracking technology, in July
2016.

Contracts/Agreements

Year: 2016

In May 2016, NVIDIA and Samsung agreed to settle all pending intellectual property litigation between the
two companies. The settlement includes the licensing of a small number of patents by each company to
the other, but no broad cross-licensing of patents or other compensation.

New Products/Services

Year: 2016

In March 2016, the company introduced NVIDIA GameWorks software development kit (SDK) 3.1,
enabling developers to ship their games with special effects and simulations.

New Products/Services

Year: 2016

In January 2016, the company introduced NVIDIA DRIVE PX 2, an engine for in-vehicle artificial
intelligence. NVIDIA DRIVE PX 2 allows the automotive industry to use artificial intelligence to tackle the
complexities inherent in autonomous driving.

New Products/Services

Year: 2016

The company introduced the NVIDIA GeForce GTX 1080, a gaming GPU based on the company's new
Pascal architecture.

Corporate Changes/Expansions

Year: 2016

Volvo incorporated the NVIDIA DRIVE PX 2 deep learning- based computing engine to power a fleet of
100 Volvo XC90 SUVs, to complement the Swedish carmaker’s Drive Me autonomous-car pilot program.

New Products/Services

NVIDIA Corporation Page 44

Year: 2016

NVIDIA launched NVIDIA TITAN X which is based on Pascal GPU architecture. It delivers high
performance engineering for maximum overclocking. Subsequently, the company introduced NVIDIA
mental ray for Maya includes GI-Next solution which delivers a 10-20x speedup by adding just one top-
end GPU.

Corporate Changes/Expansions

Year: 2015

In December 2015, Facebook incorporated NVIDIA Tesla accelerated computing platform, enabling it to
drive a range of machine learning applications.

New Products/Services

Year: 2015

In November 2015, NVIDIA introduced NVIDIA Hyperscale Accelerator, an end-to-end hyperscale data
center platform that enables web-services companies to manage their huge machine learning workloads.

Corporate Changes/Expansions

Year: 2015

In September 2015, the company announced that Microsoft will offer NVIDIA GPU-enabled professional
graphics applications and accelerated computing capabilities to customers worldwide through its cloud
platform, Microsoft Azure.

New Products/Services

Year: 2015

In August 2015, the company introduced NVIDIA GRID 2.0, a cloud based graphics technology to
enterprise workflows, enabling employees to work from anywhere without delays in downloading files,
and increasing their productivity.

Business / Operations Closure

Year: 2015

In May 2015, NVIDIA announced plans to close its Icera modem operations in the second quarter of
FY2016. The company is open to a sale of the technology or operations.

Contracts/Agreements

NVIDIA Corporation Page 45

Year: 2015

In January 2015, the company partnered with VMware and built NVIDIA GRID technology to meet the
challenges faced at work place such as keeping data secure. In the following month, NVIDIA and VMware
partnered to deliver new rich graphics capabilities for desktop virtualization. The companies jointly
developed virtualized 3D graphics using NVIDIA GRID vGPU along with VMware Horizon 6 and vSphere
6.

New Products/Services

Year: 2015

NVIDIA introduced NVIDIA SHIELD, the world's first Android TV console, which delivers video, music,
apps and amazing games to the home, in March 2015. In the same month, Weta Digital, Epic Games,
Oculus and NVIDIA unveiled a virtual reality experience named "Thief in the Shadows."

Corporate Changes/Expansions

Year: 2014

In 2014, Google announced Android TV, a new platform, driven by Google's Android operating system
and powered by Tegra K1 mobile processor. NVIDIA and IBM agreed to solve the challenges of data
center computing.

Litigation

Year: 2014

NVIDIA filed complaints against Samsung and Qualcomm at the International Trade Commission and in
the US District Court in Delaware, alleging that the companies infringed NVIDIA GPU patents covering
technology including programmable shading, unified shaders and multithreaded parallel processing.

Patent Grant

Year: 2014

NVIDIA received an $18 million grant from the US Department of Energy, under its FastForward 2
program, to accelerate the development of next-generation supercomputers.

New Products/Services

Year: 2014

NVIDIA launched the SHIELD tablet and the SHIELD wireless controller.NVIDIA introduced the first high-

NVIDIA Corporation Page 46

end products based on its Maxwell chip architecture - the new GeForce GTX 980 and 970 GPUs. The
Quadro GPUs were made available in the latest professional workstations from Dell, Fujitsu, HP and
Lenovo.IBM announced the development of a GPU-accelerated version of its DB2 database software with
BLU Acceleration - the database used around the world by enterprise customers handling high-volume
workloads. NVIDIA launched GRID on-demand game streaming service free for SHIELD users.

New Products/Services

Year: 2014

In 2014, NVIDIA launched Tegra K1 mobile processor, a 192-core super chip featuring the NVIDIA Kepler
architecture to enhance gaming on mobile platforms. In the same year, NVIDIA introduced computational
capabilities to the car through its Tegra K1 mobile processor. Subsequently, NVIDIA introduced NVIDIA
GeForce GTX 750 Ti and GTX 750 GPUs based on Maxwell graphics architecture and enhanced its
position in the gaming industry. During the year, NVIDIA introduced NVIDIA Iray Visual Computing
Appliance (VCA) that combines hardware and software to enhance NVIDIA Iray, a photorealistic renderer
integrated into design tools like Dassault Systemes' CATIA and Autodesk's 3ds Max. NVIDIA introduced
NVIDIA Jetson TK1 Developer Kit, a developer platform based on a mobile supercomputer for embedded
systems. Xiomi launched its first tablets, powered by NVIDIA's Tegra K1 mobile processor. NVIDIA's
partner Vizrt designed a custom control interface with NVIDIA's Quadro K5000 GPUs to power ultra-HD
4K screen at Kentucky Derby. The company launched GPU Starter DevKit with OpenACC powered by
NVIDIA Tesla K20 GPU accelerator and the PGI OpenACC compiler. Subsequently, Google announced
Android extension pack (AEP) powered by Tegra K1 processor that enhances the gaming on Android.

Corporate Changes/Expansions

Year: 2014

NVIDIA added Chinese University of Hong Kong to its list of CUDA Research centers.

Contracts/Agreements

Year: 2014

NVIDIA and VMWare announced the availability of NVIDIA GRID technology on VMware Horizon DaaS
Platform to deliver 3D graphics on virtualized desktops and applications delivered through the cloud.

New Products/Services

Year: 2013

NVIDIA announced Project SHIELD, a gaming portable for open platforms, designed for gamers, in 2013.
The company announced its support for the Microsoft Xbox One game console with its NVIDIA PhysX
and NVIDIA APEX SDKs. NVIDIA and Ubisoft, a producer, publisher and distributor of interactive
entertainment products, entered into an alliance to enhance Ubisoft's gaming technology for Ubisoft's
titles. Also, NVIDIA teamed up with Warner Bros. Interactive Entertainment and WB Games Montreal to

NVIDIA Corporation Page 47

enhance the technology of Batman: Arkham Origins title. Later in 2013, NVIDIA GRID GPUs were
deployed by Amazon Web Services (AWS) though it's Amazon Elastic Compute Cloud (Amazon EC2) G2
instance providing graphics-intensive applications and games in the cloud. Subsequently, the company
launched NVIDIA GeForce GTX 780 Ti GPU and strengthened its NVIDIA Kepler architecture line of GPU
family of products. Subsequently, IBM and NVIDIA announced plans to collaborate on GPU-accelerated
versions of IBM's portfolio of enterprise software applications on IBM Power Systems. This partnership is
expected to expand the use of GPU accelerators beyond the traditional supercomputing and technical
computing markets.

Contracts/Agreements

Year: 2013

NVIDIA PhysX and NVIDIA APEX software development kits (SDKs) were selected to support the gaming
on Sony Computer Entertainment's PlayStation 4.

New Products/Services

Year: 2013

The company launched NVIDIA Chimera Computational Photography Architecture, in the NVIDIA Tegra 4
family of mobile processors that offers always-on high-dynamic range (HDR) photos and videos, HDR
panoramic and persistent tap-to-track capabilities. Also, NVIDIA launched GeForce GTX TITAN GPU built
with the NVIDIA Kepler architecture that powers Oak Ridge National Laboratory's newly launched Titan
supercomputer. Subsequently, NVIDIA launched its first fully integrated fourth generation (4G) long term
evolution (LTE) mobile processor, the NVIDIA Tegra 4i processor, which features 60 custom NVIDIA GPU
cores; a quad-core CPU based on ARM's core, the Cortex-A9 r4 CPU, a fifth battery saver core; and a
version of the NVIDIA i500 LTE modem.

New Products/Services

Year: 2012

NVIDIA unveiled the NVIDIA DGX-1, a deep learning supercomputer to meet the unlimited computing
demands of artificial intelligence.

Contracts/Agreements

Year: 2012

In 2012, Audi selected NVIDIA Tegra 3 mobile processor to power in-vehicle infotainment systems as well
as new digital instrument clusters that replace traditional dashboard gauges across its full line of vehicles
worldwide. In the same year, the company teamed up with Hewlett Packard (HP) to launch the HP Z1
Workstation, which combines the first all-in-one workstation with the high performance graphics and
computing processing capabilities of NVIDIA Quadro professional graphics. Later in the year, the
company was awarded a contract worth up to $20 million by the Defense Advanced Research Projects

NVIDIA Corporation Page 48

Agency (DARPA) to research on embedded processor technologies that could lead to improvements in
the ability of autonomous vehicles to collect and process data from on-board sensors.

Acquisitions/Mergers/Takeovers

Year: 2012

NVIDIA and Intellectual Ventures jointly acquired a set of patents developed and owned by IPWireless.

New Products/Services

Year: 2012

The company and ZTE introduced ZTE Mimosa X, the first smartphone to be powered both by the
NVIDIA Tegra application processor and its Icera modem. During the same year, the company introduced
the first GPUs based on its next-generation Kepler graphics architecture, which deliver dramatic gaming
performance and power efficiency.The company launched the NVIDIA GeForce GRID cloud gaming
platform, which allows gaming-as-a-service providers to stream next-generation games to virtually any
device, without the lag that hampers current offerings. Subsequently, the company introduced cloud-
based NVIDIA VGX K2 GPU that delivers workstation graphics capabilities to any screen.

Contracts/Agreements

Year: 2011

NVIDIA and Adobe Research collaborated and introduced real-time 3D oil painting simulator. The
simulator includes Project Wetbrush from Adobe Research and NVIDIA GPUs and CUDA.

Contracts/Agreements

Year: 2011

The company powered the infotainment, navigation and instrument-cluster systems in the Tesla Model S,
the first sedan built from the ground up as an electric vehicle, with NVIDIA Tegra processors, in 2011.
The company announced "Project Denver" to build custom central processing unit (CPU) cores based on
ARM architecture. Subsequently, NVIDIA signed a six-year cross-licensing agreement with Intel. During
the same year, the company and Samsung Electronics partnered to deliver the Galaxy Tab 10.1
Honeycomb tablet.

Acquisitions/Mergers/Takeovers

Year: 2011

NVIDIA acquired Icera, a leader in wireless-modem, RF technology. The acquisition equipped NVIDIA to
offer two main processors used in smartphones: the applications processor, in the form of the NVIDIA

NVIDIA Corporation Page 49

Tegra super chip; and the baseband processor, based on Icera technology.

Contracts/Agreements

Year: 2010

The company collaborated with Coursera, Udacity and Microsoft to expand its deep learning institute. The
company partnered with Udacity to teach people how to become self-driving car engineers; Microsoft on a
hands-on workshop about how to use deep learning to create smarter robots and Coursera to create a
series of courses on how deep learning is poised to transform healthcare.

Contracts/Agreements

Year: 2010

In 2010, NVIDIA and Audi partnered to integrate NVIDIA GPUs in the navigation and entertainment
systems of all 2010 Audi vehicles worldwide. In the same year, Epic Games selected the company's 3D
Vision technology to support its Unreal Engine 3. IBM used NVIDIA's Tesla 20-series GPUs to develop
IBM iDataPlex servers, mainstream high performance computing systems. Also, the company signed a
patent license agreement with Rambus related to certain memory controllers.

Corporate Changes/Expansions

Year: 2010

The company inaugurated 20 new CUDA research and training centers in seven nations.

New Products/Services

Year: 2010

The company launched Quadro GPU based on NVIDIA Fermi architecture with 3D Vision Pro solution for
better 3D performance. During the same time, NVIDIA introduced NVS business graphics solutions,
delivering high visual fidelity across up to eight displays.

Contracts/Agreements

Year: 2009

The company partnered with Wipro to provide Compute Unified Device Architecture (CUDA) professional
services to their joint customers worldwide, in 2009. Subsequently, NVIDIA was selected as a third party
tools solution provider for Nintendo with PhysX SDK for the Wii console. During the same year, the
company in partnership with Acer launched NVIDIA ION-based PC, the Acer AspireRevo, a small and
green, full-featured PC. Subsequently, Sony Pictures Imageworks selected the company's Quadro
processors for animation and visual effects production of their 'Cloudy with a Chance of Meatballs'. In

NVIDIA Corporation Page 50

2009, MSC Software, a provider of simulation software applications and related services, formed an
alliance with NVIDIA to develop simulation driven product designs leveraging the CUDA architecture of its
Tesla GPUs. In the same year, Oak Ridge National Laboratory selected NVIDIA's next generation CUDA
GPU architecture for a new supercomputer.

New Products/Services

Year: 2009

The company along with GeoStar, a Chinese geophysical services provider, launched a new hardware
and software solution that transform seismic computation for oil and gas companies in China.

Corporate Changes/Expansions

Year: 2009

Trinigy, a supplier of 3D game development engines, integrated NVIDIA PhysX technology into its Vision
Engine 7.

Acquisitions/Mergers/Takeovers

Year: 2007

In 2007, the company acquired PortalPlayer, a supplier of semiconductors, firmware, and software for
personal media players (PMPs) and secondary display-enabled computers. In the following year, NVIDIA
acquired Mental Images, one of the leaders in photorealistic rendering technology; and AGEIA
Technologies, one of the players in gaming physics technology. During 2008, NVIDIA and Opera
Software entered into a collaboration to bring the full desktop web-browsing experience, including support
for JavaScript, accelerated vector graphics, and video content, to smartphones and mobile internet
devices. Subsequently, NVIDIA entered into a close collaboration with NEC to integrate NVIDIA Tesla
GPUs into its systems for the high performance computing (HPC) industry.

Acquisitions/Mergers/Takeovers

Year: 2006

The company acquired ULi Electronics, a developer of core logic technology, in 2006. In the same year,
NVIDIA acquired Hybrid Graphics, a developer of embedded 2D and 3D graphics software for handheld
devices.

Contracts/Agreements

Year: 2006

The company and Freescale collaborated to deliver reference design for Windows Mobile 5.0 platforms

NVIDIA Corporation Page 51

and launched PureVideo HD, a technology for high definition (HD) movie experience on PCs.

Corporate Changes/Expansions

Year: 2005

The company opened a design center in Bangalore, India.

Acquisitions/Mergers/Takeovers

Year: 2004

In 2004, NVIDIA acquired the technology assets of iReady, a provider of high performance transmission
control protocol/internet protocol (TCP/IP) and internet small computer system interface (iSCSI) offload
solutions.

Contracts/Agreements

Year: 2003

NVIDIA entered into a strategic relationship with Electronic Arts (EA) to produce and market next-
generation personal computer (PC) games for desktop and notebook PCs during 2003. In the same year,
NVIDIA entered into a multi-year strategic alliance with IBM, under which IBM would manufacture its next-
generation GeForce GPUs. As part of the agreement, NVIDIA gained access to IBM's suite of foundry
services and manufacturing technologies.

Acquisitions/Mergers/Takeovers

Year: 2003

The company acquired MediaQ, a provider of graphics and multimedia technology for wireless mobile
devices.

Acquisitions/Mergers/Takeovers

Year: 2002

In 2002, NVIDIA acquired Exluna, a privately held software company specializing in software
development technology for film quality graphics rendering.

New Products/Services

Year: 2002

The company introduced its two dimensional (2D) platform processor, the nForce2; and GeForce FX, the

NVIDIA Corporation Page 52

company's first, fully programmable cinematic GPU.

Contracts/Agreements

Year: 2000

In 2000, the company entered into an agreement with Microsoft to develop and sell graphics chips and
license certain technology to Microsoft. The company launched its nForce chipset in the same year.

Stock Listings/IPO

Year: 1999

The company went public in 1999.

Incorporation/Establishment

Year: 1993

NVIDIA Corporation (NVIDIA or "the company") was established in 1993.

Acquisitions/Mergers/Takeovers

Year: 1993

NVIDIA US Investment Company, a subsidiary of NVIDIA, acquired 3dfx Interactive, a manufacturer of

three dimensional (3D) graphics processing units (GPUs) in 2001.

NVIDIA Corporation Page 53

Key Employees

KEY EMPLOYEES

Name Job Title Board

Melissa Lora Director Non Executive Board
Wu Xinzhou Head-Automotive Services Senior Management
Stephen C. Neal Director Non Executive Board
Chris A. Malachowsky Senior Technology Executive Senior Management
Timothy S. Teter Executive Vice President, Senior Management
General Counsel, Secretary
John Dabiri Director Non Executive Board
Jen-Hsun Huang Chief Executive Officer, Director, Executive Board
President
Aarti Shah Director Non Executive Board
Robert K. Burgess Director Non Executive Board
Tench Coxe Director Non Executive Board
Persis S. Drell Director Non Executive Board
Dawn Hudson Director Non Executive Board
Harvey C. Jones Director Non Executive Board
Michael G. McCaffery Director Non Executive Board
Mark L. Perry Director Non Executive Board
A. Brooke Seawell Director Non Executive Board
Mark A. Stevens Director Non Executive Board
Colette Kress Chief Financial Officer, Executive Senior Management
Vice President
Debora Shoquist Executive Vice President- Senior Management
Operations
Ajay K. Puri Executive Vice President- Senior Management
Worldwide Field Operations

NVIDIA Corporation Page 54

Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

Chris A. Malachowsky

Board:Senior Management
Job Title: Senior Technology Executive
Since:1993

Mr. Malachowsky serves as the Senior Technology Executive of NVIDIA since 1993. Prior to this, he held
leadership positions in areas of engineering and technical at HP and Sun Microsystems.

Jen-Hsun Huang

Board:Executive Board
Job Title: Chief Executive Officer, Director, President
Since:1993
Age:60

Mr. Huang serves as the President, Chief Executive Officer and a Director of NVIDIA since 1993. Prior to
this, he held various positions including as Director of Coreware at LSI Logic Corporation from 1985 to
1993. Earlier, Mr. Huang was a Microprocessor Designer at Advanced Micro Devices from 1984 to 1985.

Robert K. Burgess

Board:Non Executive Board

Job Title: Director
Since:2011
Age:65

Mr. Burgess serves as a Director at NVIDIA since 2011. He served as the Chief Executive Officer at
Macromedia from 1996 to 2005. Previously, Mr. Burgess held various executive positions at Silicon
Graphics from 1984 to 1991. From 1991 to 1995, he served as the Chief Executive Officer and a Member
of the Board at Alias Research until its acquisition by SGI and held executive positions at SGI. Mr.
Burgess serves on the Boards of Directors at Adobe Systems and several privately held companies.

Colette Kress

Board:Senior Management
Job Title: Chief Financial Officer, Executive Vice President
Since:2013
Age:55

Ms. Kress serves as the Chief Financial Officer and Executive Vice President of NVIDIA since 2013. Prior

NVIDIA Corporation Page 55

to this, she served as the Senior Vice President and Chief Financial Officer of Business Technology and
Operations Finance at Cisco Systems. Previously, she held various positions, including as the Chief
Financial Officer of Server and Tools division at Microsoft from 1997 to 2010. Earlier, she held various
finance positions at Texas Instruments.

Debora Shoquist

Board:Senior Management
Job Title: Executive Vice President-Operations
Since:2009
Age:68

Ms. Shoquist serves as the Executive Vice President of Operations of NVIDIA since 2009. Prior to this,
she served as the Senior Vice President of Operations in 2007. Previously, she served as the Executive
Vice President of Operations at JDS Uniphase from 2004 to 2007. Earlier, Ms. Shoquist served as the
Senior Vice President and General Manager of Electro-Optics business at Coherent From 2002 to 2004.

Ajay K. Puri

Board:Senior Management
Job Title: Executive Vice President-Worldwide Field Operations
Since:2009
Age:68

Mr. Puri serves as the Executive Vice President of Worldwide Field Operations of NVIDIA since 2009.
Prior to this, he served as the Senior Vice President at Sun's Asia-Pacific Group. Previously, he served as
the Vice President of Worldwide Sales of software and technology and as the President at Nihon Sun.
Earlier, he held marketing, management consulting and product development positions at HP, Booz Allen
& Hamilton, and Texas Instruments.

NVIDIA Corporation Page 56

Major Products & Services

MAJOR PRODUCTS & SERVICES

NVIDIA Corporation (NVIDIA or ‘the company’) provides visual computing technologies and graphics
processing units. The company's major products and brands include the following:

Products:

Processors
Servers
High performance computing
Graphics processing units (GPUs)
Virtual computing
Data center platforms
DGX systems
Drive PX
GeForce RTX 20-series
Shield tv
T4 enterprise server
Gaming desktop, laptop
Monitors
Central processing units (CPUs)
Workstations
Data center
Graphic cards

Software:

Application frameworks
Gaming and entertainment
Infrastructure
Omniverse
Apps and tools

Solutions:

Artificial intelligence and data science

Data center and cloud computing
Design and visualization
Edge computing
High-performance computing
Self-driving vehicles

Brands:

NVIDIA Corporation Page 57

Quadro
GeForce
GRID
Tesla
Tegra
SHIELD
GTX
DGX
Jetson
EGX
AGX
CUDA
CUDA-X
Mellanox
Xavier

NVIDIA Corporation Page 58

SWOT Analysis

SWOT ANALYSIS
NVIDIA Corporation (NVIDIA or 'the company') is a provider of visual computing technologies and
graphics processing units (GPUs). Strong focus on R&D activities, increase in its cash reserves, and
diverse geographic footprint are the company’s major strengths, even as high debt remains a cause for
concern. Growth in data center market, contracts and agreements, and global semiconductor market are
likely to offer growth opportunities for the company. However, stringent regulations, high competitive
pressure and cybersecurity risks could affect its operations.

Strength Weakness

Strong focus on R&D activities High Debt

Diverse geographic footprint reduces business risks
Cash Reserves
Opportunity Threat

Contracts and agreements High competitive pressure

Positive outlook for global semiconductor market Cybersecurity risks
Growth in data center market Stringent regulations

Strength

Strong focus on R&D activities

NVIDIA has strong focus on R&D activities, which allowed it to establish a strong position in the visual
computing market. The company's innovation strategy focuses on extending its platform and technology
leadership in AI and visual computing. It strives to strengthen its technological and platform leadership in
generative AI, 3d deep learning, algorithms and numerical methods, computational photography and
imaging, computer architecture, networking, real-time rendering, medical, programming languages,
systems and tools robotics, VR, AR and display technology and visual computing. Over the last few
years, the company has been investing heavily in research areas, including autonomous vehicles,
synthetic data generation, and drug discovery. As of January 2023, the company employed 19,532
employees in R&D. In FY2023, the company spent US$7,339 million on R&D, which accounted for 27.2%
of its total revenue. The company's patents and pending patent applications primarily relate to its products
and the technology used in connection with the products. The company’s technological leadership in the
visual computing market helps it enhance its product offerings and cater to the varied needs of its
customers. It also helps the company strengthen its customer base, and its market position.

Diverse geographic footprint reduces business risks

NVIDIA has a diversified geographic presence. The company operates through a global network of more
than 50 offices spread across the Americas, Europe, and Asia. It has operational presence in the US,

NVIDIA Corporation Page 59

Canada, Brazil, Australia, India, Japan, China, Hong Kong, Korea, Taiwan, Singapore, Sweden, Israel,
Denmark, Finland, Poland, Switzerland, the UK, Czech Republic, Germany, Russia, Ukraine, the UAE
and Greece. The company has a diversified spread, in terms of revenue generation. In FY2023, the US
accounted for 30.7% of the company's revenue, followed by China (21.4 %), Taiwan (25.9%) and Other
countries (21.9%). The company's wide and diverse geographic presence helps in mitigating various risks
associated with dependence on select region. It also enables the company to enhance its customer base
and strengthen its market position.

Cash Reserves

The company reported an increase in its cash reserves in FY2023, which could strengthen its short-term
operations. In FY2023, the company reported a 41.2% increase in its cash and short-term investments,
which grew to US$3,389 million from US$1,990 million in FY2022. The increase was due driven by lower
purchases and higher sales and maturities of marketable securities, offset by higher capital expenditures.
In FY2023, the company’s cash component accounted for 14.6% of its current assets.

Weakness

High Debt

NVIDIA has substantial debt, which could affect its operations and weaken its financial position. The
company reported total debt of US$6,563 million in FY2023, indicating an annual increase of 33.9% as
compared to US$4,335 million in FY2022. The significant increase in debt limits its ability to secure
financing in the future for working capital, and other strategic initiatives.

Opportunity

Contracts and agreements

NVIDIA’s recent contracts and agreements could augment its revenue. In October 2023, NVIDIA
collaborated with Hon Hai Technology Group (Foxconn) to develop a new class of data centers powering
a wide range of applications, including digitalization of manufacturing and inspection workflows,
development of AI-powered electric vehicle and robotics platforms, and a growing number of language-
based generative AI services. In September 2023, the company partnered with Infosys to provide
expertise and technology needed to drive productivity gains with generative Ai applications and solutions
across industries. In the same month, NVIDIA extended its collaboration with Tata Group to deliver AI
computing infrastructure and platforms for developing AI solutions. Through this collaboration, the
company aims develop state-of-the-art AI capabilities accessible to thousands of organizations,
businesses, AI researchers, and hundreds of startups in India. In August 2023, the company partnered
with Google Cloud Next, to build new AI infrastructure and software for customers to build and deploy
massive models for generative AI and speed data science workloads.

Positive outlook for global semiconductor market

NVIDIA Corporation Page 60

The company is likely to benefit from the growing semiconductor market. According to in-house report,
the global semiconductor market is forecasted to reach US$708.7 billion by 2025. Category wise,
integrated is the largest segment in the global semiconductor market, accounting for 88.3% of the market
value, while Discrete segment accounts for 11.7% of the market. Most of the demand for semiconductors
emanated from Asia-Pacific, which accounts for 70.4% of the market value followed by the US (17%),
Europe (7.4%), the Middle East (2.5%), and the Rest of the World (2.7%). The smartphone market has
grown rapidly for the past few years and has entered a mature phase. Meanwhile, the new driving force
for the semiconductor market shifts to the IoT market. Demand for semiconductors is also expected to be
driven by growth in the utilization of artificial intelligence and virtual reality (VR) solutions in devices as
diverse as smartphones, gaming consoles, and even coffee machines. The company manufactures,
assembles, and tests semiconductor wafers.

Growth in data center market

The company stands to benefit from the growing global data centre and hosting market. According to in-
house research, globally, the data center and hosting market is expected to reach US$108.6 million by
2025. Application Hosting & Data Centre Services is expected to be the major contributor with a market
share of 62.2%, followed by Colocation Services with 37.8%. Asia-Pacific is expected to dominate the
market with a share of 29%, followed by North America (26.9%), Western Europe (23.6%), Middle East
and Africa (12.7%), Central and Eastern Europe (4.3%), and South and Central America (3.5%). NVIDIA
designs and develops computing platform that increase the power efficiency of high-performance
datacentres based on AI and HPC applications.

Threat

High competitive pressure

The market in which the company operates is intensely competitive and is defined by rapid technological
change, evolving industry standards and declining average selling prices. NVIDIA faces stiff competition
from companies that develop and manufacture GPUs and mobile SoC products. The company's
competitors include suppliers of discrete and integrated GPUs, including supercomputers and chipsets,
such as Advanced Micro Devices Inc, Xilinx Inc and Intel Corp. NVIDIA also competes with suppliers of
SoC products that are integrated into gaming devices and automobiles such as Ambarella Inc, Advanced
Micro Devices, Inc, Intel Corp, Qualcomm Inc, Renesas Electronics Corp, and Samsung Electronics Co.
Ltd. Intense competition will lead to pricing pressures, which may dampen the company's profitability and
diminish its market share.

Cybersecurity risks

The constantly evolving cyber threats could disrupt the security of the company’s systems and business
applications, impair ability to provide services to its customers and protect the privacy of their data.
Hackers and organizations, including state-sponsored organizations continuously develop and deploy
malicious software or exploit vulnerabilities in hardware, software, and other infrastructure to gain access
to organizations’ networks and data centres. NVIDIA's depends on technology systems and infrastructure,
which increases the risk of potential vulnerabilities from breakdowns due to natural disasters, system

NVIDIA Corporation Page 61

failure and malfunction, unauthorized access, power loss, human error and other unforeseen events.
Release of confidential information and failures of technology or related systems could affect the business
and subject the company to unexpected liabilities.

Stringent regulations

NVIDIA's policies, procedures and practices and technology are subject to federal, state, local and foreign
laws, rules, and regulations. These rules and regulations may change in time to time subject to the
change in policies decisions are made by responsible authorities. The company’s daily business
operations are adversely impacted to follow the applicable rules and regulations. Even if the company is
failed to implement the applicable rules and regulations, which could tarnish the company’s brand image
and incurs high-cost burden related to legal and settlement costs, civil and criminal liability, and increased
cost of regulatory compliance, disruption of its business and loss of customers. Further, any change in
political and economic factors could lead to change in federal, state, and foreign tax laws and it could
affect its tax assets or liabilities and also affects its business operations.

NVIDIA Corporation Page 62

Top Competitors

TOP COMPETITORS
The following companies are the major competitors of NVIDIA Corporation

Advanced Micro Devices Inc

Advanced Micro Devices, Inc.
Alibaba Group Holding Ltd
Alphabet Inc
Amazon.com Inc
Ambarella Inc
Applied Optoelectronics Inc
Arista Networks Inc
Baidu Inc
Broadcom Corp
Broadcom Inc
Cisco Systems Inc
Hewlett Packard Enterprise Co
Intel Corp
Juniper Networks Inc
Lumentum Holdings Inc
Qualcomm Inc
QUALCOMM Incorporated
Renesas Electronics Corporation
Samsung Electronics Co Ltd.
Tesla Inc
Xilinx, Inc.

NVIDIA Corporation Page 63

Company View

COMPANY VIEW
An excerpt from the Management Discussion and Analysis section of NVIDIA Corporation, is given below.
The excerpt has been taken from the company’s 2023 10-K report.

Results of Operations
Revenue
Revenue by Reportable Segments

Compute & Networking - The year-on-year increase was led by growth from hyperscale customers and
also reflects purchases made by several CSP partners to support multi-year cloud service agreements for
our new NVIDIA AI cloud service offerings and our research and development activities. The increase
was also related to the growth in Automotive. CMP contributed an insignificant amount in fiscal year 2023
compared to $550 million in fiscal year 2022.

Graphics - The year-on-year decrease primarily reflects lower sell-in to partners to help reduce channel
inventory levels as global macro-economic conditions and COVID-19 related disruptions in China
weighed on gaming demand.

Concentration of Revenue

Revenue from sales to customers outside of the United States accounted for 69% and 84% of total
revenue for fiscal years 2023 and 2022, respectively. The decline in revenue outside the U.S. was
primarily driven by China and Taiwan related to Data Center and Gaming. Revenue by geographic region
is allocated to countries based on the billed location even if the revenue may be attributable to end
customers in a different location.

No customer represented 10% or more of total revenue for fiscal years 2023 and 2022.

Gross Profit and Gross Margin

Gross profit consists of total revenue, net of allowances, less cost of revenue. Cost of revenue consists
primarily of the cost of semiconductors, including wafer fabrication, assembly, testing and packaging,
board and device costs, manufacturing support costs, including labor and overhead associated with such
purchases, final test yield fallout, inventory and warranty provisions, memory and component costs,
tariffs, and shipping costs. Cost of revenue also includes acquisition-related costs, development costs for
license and service arrangements, IP-related costs, and stock-based compensation related to personnel
associated with manufacturing operations.

Gross margin was 56.9% and 64.9% for fiscal years 2023 and 2022, respectively. The decrease in fiscal
year 2023 was primarily due to $2.17 billion of inventory provisions in fiscal year 2023, which consists of
approximately $1.04 billion for inventory on hand and approximately $1.13 billion for inventory purchase
obligations in excess of our current demand projections.

Inventory provisions totaled $2.17 billion and $354 million for fiscal years 2023 and 2022, respectively.

NVIDIA Corporation Page 64

Sales of inventory that was previously written-off totaled $137 million and $111 million for fiscal years
2023 and 2022, respectively. As a result, the overall net effect on our gross margin was an unfavorable
impact of 7.5% and 0.9% in fiscal years 2023 and 2022, respectively.

Compute & Networking - The gross margin of our Compute & Networking segment decreased during
fiscal year 2023 when compared to fiscal year 2022, primarily due to inventory provisions.

Graphics - The gross margin of our Graphics segment decreased during fiscal year 2023 when compared
to fiscal year 2022, primarily due to inventory and related provisions and lower margins of GeForce
GPUs.

Operating Expenses

The increase in research and development expense for fiscal year 2023 was primarily driven by
increased compensation, employee growth, engineering development costs, and data center
infrastructure.

The increase in sales, general and administrative expense for fiscal year 2023 was primarily driven by
increased compensation and employee growth.

We recorded an acquisition termination cost related to the Arm transaction of $1.35 billion in fiscal year
2023 reflecting the write-off of the prepayment provided at signing.

Other Income (Expense), Net

Interest income consists of interest earned on cash, cash equivalents and marketable securities. The
increase in interest income was primarily due to higher yields earned on our investments.

Interest expense is primarily comprised of coupon interest and debt discount amortization related to our
notes. The increase in expense reflects interest on the $5.00 billion debt offering issued in June 2021.

Other, net, consists primarily of realized or unrealized gains and losses from investments in non-affiliated
entities and the impact of changes in foreign currency rates. Change in other, net, compared to fiscal year
2022 was primarily driven by mark-to-market losses from publicly traded equity investments and changes
in value from our non-affiliated private investments. Refer to Note 8 of the Notes to the Consolidated
Financial Statements in Part IV, Item 15 of this Annual Report on Form 10-K for additional information
regarding our investments in non-affiliated entities.

Income Taxes

We recognized income tax benefit of $187 million for fiscal year 2023 and income tax expense of $189
million for fiscal year 2022. Income tax as a percentage of income before income tax was a benefit of
4.5% for fiscal year 2023 and an expense of 1.9% for fiscal year 2022.

Beginning in fiscal year 2023, the 2017 Tax Cuts and Jobs Act, or TCJA, requires taxpayers to capitalize
research and development expenditures and to amortize domestic expenditures over five years and

NVIDIA Corporation Page 65

foreign expenditures over fifteen years.

The fiscal year 2023 effective tax rate includes the mandatory capitalization and amortization of research
and development expenses beginning in fiscal year 2023, which resulted in a greater FDII deduction and
significantly increased current taxes, with a corresponding deferred tax benefit at the relevant statutory
tax rate.

The decrease in our effective tax rate in fiscal year 2023 as compared to fiscal year 2022 was primarily
due to increased tax benefits of the FDII deduction, stock-based compensation, and the U.S. federal
research tax credit, relative to lower profitability. This is partially offset by the impact of an increase in the
proportion of earnings subject to U.S. tax in fiscal year 2023 and the one-time benefits of the
domestication of a foreign subsidiary in fiscal year 2022, or the Domestication.

Our effective tax rate for fiscal year 2023 was lower than the U.S. federal statutory rate of 21% due
primarily to tax benefits from the FDII deduction, tax benefits related to stock-based compensation and
the U.S. federal research tax credit.

Our effective tax rate for fiscal year 2022 was lower than the U.S. federal statutory rate of 21% due to tax
benefits from the FDII deduction, income earned in jurisdictions that are subject to taxes lower than the
U.S. federal statutory tax rate, excess tax benefits related to stock-based compensation, recognition of
U.S. federal research tax credit and the one-time benefits of the Domestication.

NVIDIA Corporation Page 66

Locations And Subsidiaries

LOCATIONS AND SUBSIDIARIES

Head Office

NVIDIA Corporation
2788 San Tomas Expressway
Santa Clara
California
Santa Clara
California
USA
Phone:1 408 4862000
www.nvidia.com

Other Locations and Subsidiaries

NVIDIA Italy S.r.l.

ITA

NVIDIA Corporation Page 67

John Carpenter House, John Carpenter Street, London, United Kingdom, EC4Y 0AN
T: +44 (0) 203 377 3042 | F: +44 (0) 870 134 4371 | E: [email protected] | W: www.marketline.com
Copyright of NVIDIA Corporation MarketLine Company Profile is the property of
MarketLine, a Progressive Digital Media business and its content may not be copied or
emailed to multiple sites or posted to a listserv without the copyright holder's express written
permission. However, users may print, download, or email articles for individual use.

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