There's a lot of excitement for the Nexus 7, but no one is more excited about the new tablet as Nvidia, which is reportedly seeing significant profits from the device.

According to sources, Nvidia was given orders for at least three million Tegra 3 chips to power the Nexus 7 tablet, with Google planning to ship between three and four million units by the end of 2012.

With the Tegra 3 chip priced at around $25 a piece, Nvidia stands to see revenue up to $75 million from the Nexus 7 alone.

According to Digitimes, the revenue translates to nearly $10 million in profit for the company.

Nvidia profits powered by Tegra 3

The Nexus 7 tablet isn't the only new device to run on the Tegra 3 processor.

In May, Nvidia pledged that its quad-core processor would power 30 smartphones by the end of 2012.

Recent handsets already using the Tegra 3 include the Samsung Galaxy S3, HTC One X and LG Optimus 4X HD.

The Tegra 3 chip (Kal-El series, named after Superman) is a 1.4GHz quad-core processor that supports up to 16 simultaneous active operations on its Cortex A-9 processors, but relies on its fifth "companion core" to take over in stand-by or low-usage mode.

The power conserving measure makes the Tegra 3 a popular choice for high-performance mobile devices without killing the battery.

Earlier this year, competing chipmaker Qualcomm ran into production shortages of its Snapdragon S4 processors, which could extend into 2013.

The shortage has likely contributed to the increase of Tegra 3-powered handsets and tablets for the second half of 2012.