The H100 could generate at least $50 billion in revenue for Nvidia in 2024

British newspaper the Financial Times forecast in August 2023 that Nvidia could ship 550,000 of its H100 GPUs. But a new report from market research firm Omdia points out that Nvidia sold half a million units of the H100 in the third quarter of fiscal 2024 (which ended on Oct. 29, 2023). Assuming that the company clocked an average selling price (ASP) of $25,000, it would have sold $12.5 billion worth of H100 processors last quarter.

That number doesn't seem surprising given that Nvidia generated $14.5 billion in revenue from its data center segment last quarter, which houses the sales of its H100 processors. This explains why the latest estimates peg sales of Nvidia's H100 processors at 1.5 million units in 2023, which means that the company may have generated $37.5 billion in revenue from this processor alone in 2023.

For 2024, Nvidia is now expected to ship 2 million units of the H100. At a base price of $25,000, that would translate into revenue of at least $50 billion for Nvidia in 2024. The company is expected to finish the current fiscal year with revenue of $59 billion, which means that the H100 alone could move the needle in a big way for the semiconductor giant in the new fiscal year.

However, there is a chance that Nvidia may be able to significantly raise its H100 shipments in the new year thanks to support from its supply chain partners, which are busy ramping up their production capacity, as well as the introduction of updated chips. This explains why analysts estimate that Nvidia's AI GPU shipments could jump a whopping 150% in 2024.

Assuming the H100 accounts for the entire jump in Nvidia's AI GPU shipments in 2024, the company could end up shipping 3.75 million units of its flagship processor. This points toward more than $93 billion in revenue from a single product for Nvidia. For comparison, analysts anticipate the company's total revenue in the new fiscal year to come in at $92 billion. $Advanced Micro Devices (AMD.US)$ $NVIDIA (NVDA.US)$ $Nasdaq Composite Index (.IXIC.US)$