Nvidia reported record revenue for the quarter ending April 26, achieving $81.6 billion, a 20% increase from the previous quarter, alongside a record $75.2 billion in data center revenue. The strong performance prompted the company to authorize $80 billion in share repurchases.
CFO Colette Kress stated, “Our Blackwell architecture is everywhere, adopted and deployed by every major hyperscaler, every cloud provider, and every major model maker.” Despite the impressive results, Nvidia projected a slowdown, forecasting $91 billion in revenue for the next quarter, reflecting a 12% growth rate.
Kress noted that Chinese exports had no significant impact on Nvidia’s earnings. While H200s have been approved for U.S. export, she added, “we have yet to generate any revenue, and we are uncertain whether any imports will be allowed into [China].”
Nvidia’s stakes in privately held companies nearly doubled, increasing from $22 billion to $43 billion between January and April. This surge was driven by $18.5 billion in purchases during the quarter, compared with $649 million in the prior quarter. The $43 billion figure does not include Nvidia’s recent investments in publicly traded companies or potential future commitments.
The company previously committed to investing $30 billion in OpenAI in February, though the deal’s structure was not fully disclosed. On a call discussing the results, CEO Jensen Huang emphasized the company’s significant role in a pending buildout with Anthropic, stating, “The amount of capacity we’re going to bring online for Anthropic this year and next year is going to be quite significant.”
