Nvidia founder and CEO Jensen Huang struck a bullish tone within the firm’s third-quarter earnings. And based mostly on the corporate’s outcomes, there could also be purpose to.
Nvidia reported income of $57 billion within the third quarter, 62% larger in comparison with the identical quarter final yr. The corporate’s internet revenue on a GAAP foundation was $32 billion, 65% larger year-over-year. Each income and revenue outcomes beat Wall Avenue expectations.
The income image exhibits an organization booming thanks largely to its information heart enterprise. Income generated by Nvidia’s information heart enterprise was a document $51.2 billion, up 25% from the earlier quarter and up 66% from a yr in the past. The remaining $5.8 billion in income got here from Nvidia’s gaming enterprise with $4.2 billion, adopted by gross sales in skilled visualization and automotive.
Nvidia’s CFO Colette Kress noted in a statement to shareholders its information heart enterprise has been fueled by an acceleration of computing, highly effective AI fashions, and agentic functions. Through the firm’s Q3 name, Kress mentioned on this previous quarter, the corporate introduced AI manufacturing unit and infrastructure tasks amounting to an combination of 5 million GPUs.
“This demand spans each market, CSPs, sovereigns, trendy builders enterprises and tremendous computing facilities, and contains a number of landmark construct outs,” Kress mentioned.
Blackwell Extremely, a GPU unveiled in March and accessible in a number of configurations, has been notably robust and is now the chief inside the firm. Earlier variations of the Blackwell structure additionally noticed continued robust demand, in line with the corporate.
Huang mentioned gross sales of its Blackwell GPU chips “are off the charts.”
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“Blackwell gross sales are off the charts, and cloud GPUs are offered out,” Huang mentioned within the firm’s Q3 earnings assertion. “Compute demand retains accelerating and compounding throughout coaching and inference — every rising exponentially. We’ve entered the virtuous cycle of AI. The AI ecosystem is scaling quick — with extra new basis mannequin makers, extra AI startups, throughout extra industries, and in additional nations. AI goes all over the place, doing all the pieces, abruptly.”
Kress did word that the corporate’s shipments of H20, a knowledge heart GPU designed for generative AI and high-performance computing, have been 50 million, a disappointing end result as a consequence of its incapacity to promote to China.
“Sizable buy orders by no means materialized within the quarter as a consequence of geopolitical points and the more and more aggressive market in China,,” Kress famous on the earnings name. “Whereas we have been disenchanted within the present state that forestalls us from delivery extra aggressive information heart compute merchandise to China, we’re dedicated to continued engagement with the U.S. and China governments, and can proceed to advocate for America’s potential to compete world wide.”
Importantly, Nvidia is forecasting extra development with a projected income of $65 billion within the fourth quarter, serving to push its share worth up greater than 4% in after-hours buying and selling.
The upshot, at the very least in Huang’s view: overlook concerning the bubble, there may be solely development.
“There’s been lots of speak about an AI bubble,” Jensen mentioned throughout the firm’s earnings name. “From our vantage level, we see one thing very completely different.”
