Nvidia has another record quarter amid record capex spends
"The demand for tokens in the world has gone completely exponential," Nvidia CEO Jensen Huang said about the company's earnings.
TL;DR
- Nvidia achieved record profits and revenue in the most recent quarter, with a 73% increase year-over-year.
- The data center business accounted for $62 billion of the $68 billion revenue, with compute revenue (GPUs) being $51 billion.
- CEO Jensen Huang described the demand for AI compute as "completely exponential," leading to increased pricing.
- Nvidia has not yet generated revenue from chip exports to China, despite government approvals for some products.
- The company is reportedly close to a partnership agreement with OpenAI and is also working with Anthropic, Meta, and xAI.
- Huang stated that in the AI world, "compute is revenue" and that the company is at an inflection point for generating profitable compute.