Nvidia has another record quarter amid record capex spends

Nvidia has another record quarter amid record capex spends

Chip big and world’s most priceless company Nvidia reported record earnings in its most latest quarter on Wednesday, as demand for AI compute continues to skyrocket.

“The demand for tokens in the world has gone completely exponential,” CEO Jensen Huang said on a name with analysts following the outcomes. “I think we’re all seeing that, to the point where even our six-year-old GPUs in the cloud are completely consumed and the pricing is going up.”

The company reported $68 billion in income in the most latest quarter, up 73% from the prior 12 months, with $62 billion of that income coming from the company’s data heart enterprise.

Notably, Nvidia divided the data heart income into $51 billion in compute income (largely GPUs) and $11 billion in networking merchandise like NVLink. The company reported $215 billion in income for the full 12 months.

As in earlier quarters, the company didn’t report any income from chip exports to China, despite the latest lifting of export restrictions by the U.S. authorities. “While small amounts of H200 products for China-based customers were approved by the U.S. government, they have yet to generate any revenue, and we do not know whether any imports will be allowed into China,” Colette Kress, the company’s chief monetary officer, said.

“Our competitors in China, bolstered by recent IPOs, are making progress,” she continued, in an obvious reference to Moore Threads’ IPO in December, “and have the potential to disrupt the structure of the global AI industry over the long term.”

During the investor name, Huang also addressed the company’s pending funding in OpenAI, which has been reported at $30 billion.

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“We continue to work with OpenAI toward a partnership agreement. We believe we are close,” Huang said. He also referenced partnerships with Anthropic, Meta, and Elon Musk’s xAI. However, statements Nvidia filed with the U.S. Securities and Exchange Commission on Wednesday emphasised that there was “no assurance” an funding would happen.

Huang also addressed issues about the sustainability of tech corporations’ capex commitments, saying he believed the compute investments would soon deliver income.

“In this new world of AI, compute is revenue. Without compute, there’s no way to generate tokens. Without tokens, there’s no way to grow revenues,” Huang said. “We’ve reached the inflection point and we’re generating profitable tokens that are productive for customers and profitable for the cloud service providers”

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