Nvidia reported financial results for the quarter ending April 26, announcing record revenue of $81.6 billion, a 20% increase from the previous quarter. The company also achieved a record $75.2 billion in data center revenue during the same period, prompting Nvidia to authorize $80 billion in share repurchases.
“Our Blackwell architecture is everywhere, adopted and deployed by every major hyperscaler, every cloud provider, and every major model maker,” stated Nvidia CFO Colette Kress. Despite the strong revenue figures, Nvidia projected a slowdown in growth, forecasting $91 billion in revenue for the next quarter, a 12% increase.
Kress noted that Chinese exports did not significantly impact Nvidia’s earnings, mentioning, “We have yet to generate any revenue, and we are uncertain whether any imports will be allowed into [China],” following the approval of H200s for U.S. export.
A notable development was the increase in Nvidia’s stakes in privately held companies, which nearly doubled from $22 billion to $43 billion between January and April. This surge was driven primarily by $18.5 billion in purchases during the quarter, compared to just $649 million in the previous quarter. This figure excludes Nvidia’s investments in publicly traded companies like Corning and IREN, and does not consider future commitments.
Nvidia has also committed to investing $30 billion in OpenAI, although details regarding the structure of this deal remain undisclosed. During a call discussing the results, Jensen Huang emphasized Nvidia’s significant impact on the AI sector, particularly regarding a pending buildout with Anthropic. “The amount of capacity we’re going to bring online for Anthropic this year and next year is going to be quite significant,” Huang told investors.
