Nvidia, the world’s most valuable company and a dominant force in semiconductor manufacturing, posted record profits in its latest quarter as demand for AI computing power continued to surge. The chipmaker reported explosive growth driven largely by its data center business, reinforcing its position at the center of the artificial intelligence boom.
Speaking to analysts after the earnings release, CEO Jensen Huang said global demand for AI tokens has grown at an exponential rate. He noted that even Nvidia’s six-year-old GPUs hosted in the cloud are fully booked, with prices climbing as customers scramble for available compute capacity. According to Huang, the scale of demand shows just how deeply AI workloads now shape the tech landscape.
For the quarter, Nvidia generated $68 billion in revenue, marking a 73 percent increase compared to the same period last year. Data center operations accounted for $62 billion of that total, underscoring how critical AI infrastructure has become to the company’s financial engine. Nvidia broke that segment down further, reporting $51 billion from compute products—primarily GPUs—and $11 billion from networking technologies such as NVLink. Over the full fiscal year, the company brought in $215 billion in revenue, another milestone in its rapid ascent.
Despite recent moves by the U.S. government to ease certain export restrictions, Nvidia did not record revenue from chip exports to China. Chief Financial Officer Colette Kress explained that while U.S. authorities approved small quantities of H200 products for Chinese customers, those shipments have not yet translated into revenue. She added that the company still lacks clarity on whether China will ultimately allow imports of those products.
Kress also pointed to rising competition within China. She noted that local rivals, strengthened by recent IPOs, continue to advance their AI chip capabilities and could reshape the global AI landscape over the long term. Her comments appeared to reference Moore Threads, which went public in December and has pushed to expand its presence in the domestic AI hardware market.
During the call, Huang addressed Nvidia’s reported $30 billion investment discussions with OpenAI. He said the company continues to work toward a partnership agreement and believes it is close to reaching terms. Huang also highlighted Nvidia’s collaborations with Anthropic, Meta, and Elon Musk’s xAI, signaling that the company intends to remain deeply embedded across the AI ecosystem. However, filings submitted to the U.S. Securities and Exchange Commission made it clear that no guarantee exists that the OpenAI investment will move forward.
Huang also responded to concerns about whether massive capital expenditures across the tech sector can sustain current levels. He argued that AI infrastructure spending directly drives revenue in this new era. Without compute power, he said, companies cannot generate tokens, and without tokens, they cannot grow revenue. He described the current moment as an inflection point, where AI systems now produce “profitable tokens” that deliver measurable value for customers and cloud providers alike.
Nvidia’s latest results send a strong signal: AI demand is not cooling off. Instead, it continues to accelerate, pushing cloud providers, startups, and tech giants to secure as much compute capacity as possible. With record revenue, dominant data center growth, and deep partnerships across the AI industry, Nvidia remains firmly positioned at the heart of the global AI arms race.
