Nvidia announced new record earnings after the market closed on Wednesday, reporting financial results for the quarter ending April 26. During that three-month period, the company brought in $81.6 billion in revenue (up 20% from the previous quarter), with record data center revenue of $75.2 billion. Using the proceeds, the company authorized $80 billion in stock buybacks.
“Our Blackwell architecture is everywhere, adopted and deployed by every major hyperscaler, every cloud provider, and every major model manufacturer,” said Nvidia CFO Colette Kress.
Notably, Nvidia is forecasting a slowdown in revenue growth, with next quarter revenue expected to grow 12% to $91 billion.
Chinese exports did not have a significant impact on the company’s profits. Although the H200 has been approved for export to the United States, “it has not yet generated revenue and it is unclear whether it will be allowed to be imported into the United States.” [China]” said Cress.
One surprise was the sheer volume of NVIDIA’s stake in privately held companies (listed as “non-marketable stock” in filings), which nearly doubled between January and April. The company started the quarter with $22 billion in private equity and ended it with $43 billion, primarily due to $18.5 billion in stock purchases throughout the quarter. Comparable purchases last quarter were only $649 million.
Notably, this number does not include Nvidia’s recent investments in publicly traded companies such as Corning and IREN, nor does it reflect future initiatives that have not yet been completed. Nvidia pledged to invest $30 billion in OpenAI in February, but the exact structure of the deal was not disclosed.
In a conference call to discuss the results, Jensen Huang highlighted the broad scope of NVIDIA’s impact, including its pending ramp-up with Anthropic. “The capacity that we’re going to bring online for Anthropic this year and next year is going to be significant,” Huang told investors on a conference call. “Up until now, our coverage of Anthropic has been almost zero.”
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