NVIDIA
Everyone wants AI and Nvidia owns the supply
Nvidia reported record results this quarter, as demand for AI infrastructure continues to rise.
The company brought in $68 billion in revenue, up 73% from last year, with $62 billion coming from its data centre business.
Within that, $51 billion came from compute (mostly GPUs) and $11 billion from networking products like NVLink.
Full-year revenue reached $215 billion, showing how much companies are investing in AI.
CEO Jensen Huang said demand is still climbing fast, with even older GPUs fully used and prices going up as supply tightens.
He described demand for AI tokens as growing at an “exponential” rate.
Nvidia reported no revenue from China, despite some easing of US export rules.
While a small number of chips have been approved, the company said it’s still unclear if broader access will follow.
In brief:
Most of Nvidia’s growth is coming from AI, especially its data centre business
High demand is pushing up usage and pricing, even for older chips
China remains uncertain, while partnerships and competition continue to evolve the market
Fully booked era
Meanwhile, Chinese competitors are making progress, backed by new funding.
On partnerships, Nvidia said it is still in talks with OpenAI over a potential investment reportedly worth $30 billion, though nothing has been confirmed.
It also highlighted ongoing work with companies like Anthropic, Meta, and xAI.
Huang also addressed concerns about rising AI spending, saying compute is now directly tied to revenue.
As AI grows, access to powerful infrastructure is becoming essential to generate and scale output.
We’re all waiting for that one quarter where everything stops going up… - MV