Nvidia has another record quarter amid record capex spends
Nvidia reported record profits driven by soaring AI compute demand, despite ongoing uncertainty regarding Chinese export revenue.Summary
Chip giant Nvidia announced record profits for its most recent quarter, with revenue reaching $68 billion, a 73% increase year-over-year, largely fueled by its data center business which brought in $62 billion. CEO Jensen Huang noted that the demand for AI tokens has gone "completely exponential," consuming even older GPUs. The company's CFO, Colette Kress, confirmed no revenue was generated from chip exports to China, despite recent U.S. government approvals for small amounts of H200 products, and acknowledged potential long-term disruption from bolstered Chinese competitors. Huang also stated that Nvidia is "close" to a partnership agreement with OpenAI, while emphasizing that compute investment is now directly translating into revenue for customers and cloud providers.
(Source：TechCrunch)