$68.1 billion in quarterly revenue isn’t just a number—it’s proof the AI gold rush has no ceiling. Nvidia crushed Wall Street’s $66.21 billion estimate, posting 73% year-over-year growth that left analysts scrambling to revise their models. Data center revenue alone hit $62.3 billion, representing 91% of total sales and a 75% jump from last year. Faster Netflix streams and ChatGPT responses run on this silicon empire that CEO Jensen Huang built while competitors were still figuring out what AI meant.
The Infrastructure Arms Race Intensifies
Hyperscalers are panic-buying GPUs like concert tickets, driving networking revenue up 263% as entire data centers get rebuilt.
The real story lives in networking revenue exploding 263% to $10.98 billion—proof that tech giants aren’t just buying individual chips but rebuilding entire data centers around Nvidia’s architecture. Huang’s “exponential demand” for AI-powered tokens means even six-year-old GPUs are “completely consumed,” a supply crunch that would make PlayStation 5 scalpers jealous.
Full-year revenue reached $215.9 billion, nearly doubling from $130.5 billion in fiscal 2025. These aren’t just sales figures—they’re the receipts for an infrastructure revolution happening in server farms you’ll never see.
China’s Missing Billions Signal Geopolitical Reality
Zero revenue from China despite eased restrictions shows how export controls reshape global AI competition.
Despite loosened U.S. export restrictions, Nvidia recorded zero revenue from China this quarter. Small H200 chip approvals remain stuck in import clearance limbo, while CFO Colette Kress warned that Chinese competitors like Moore Threads “have the potential to disrupt the global AI industry over the long term.” This isn’t just about lost sales—it’s about a parallel AI ecosystem developing beyond Nvidia’s reach, potentially ending the company’s monopoly faster than anyone expects.
The $78 Billion Future Takes Shape
Q1 guidance and OpenAI investment talks suggest Nvidia’s dominance will only deepen through strategic partnerships.
Nvidia’s Q1 guidance of $78 billion revenue (excluding China) signals the momentum continues, while ongoing talks for a reported $30 billion OpenAI investment could lock in the next generation of AI development. The new Rubin platform promises 10x inference cost reductions versus current Blackwell chips, potentially making AI even more addictive for businesses. With a $4.7 trillion market cap, Nvidia has become bigger than most countries’ economies. But remember: every empire eventually faces challengers, and Chinese chip makers are working nights to build theirs.
