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Nvidia Reports Record Q3 Revenue of $35B as AI Chip Demand Remains Insatiable

Financial ReportNvidia / Reuters
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Nvidia Reports Record Q3 Revenue of $35B as AI Chip Demand Remains Insatiable

Nvidia reported record quarterly revenue of $35 billion, driven almost entirely by data center GPU demand from AI training and inference. The company raised guidance for Q4, signaling no slowdown in AI infrastructure spending from hyperscalers and AI labs.

  • $35B quarterly revenue — up 94% year-over-year
  • Data center segment revenue: $30.8B, driven by H100 and H200 GPU demand
  • Q4 guidance raised to $37.5B +/- 2%, beating analyst estimates
  • Blackwell GPU ramp on track; production constraints easing in Q1
  • Gross margin improved to 74.6% despite supply chain investments

Nvidia's results are the best proxy for AI infrastructure spending globally. Record revenues signal that hyperscalers (Microsoft, Google, Amazon, Meta) are still massively investing in AI compute — which supports the case that this cycle has real, sustained demand behind it.

Strong Nvidia results confirm that the AI infrastructure build-out is far from complete. This is relevant context for businesses evaluating AI investments: the compute layer is still being built, and costs are likely to continue falling as supply catches up with demand in 2025-2026.

  • AI compute demand shows no signs of demand destruction despite high costs
  • Blackwell ramp will intensify competitive pressure from AMD and custom chips
  • Export restriction risk remains an overhang on long-term guidance

Watch Blackwell production ramp numbers in Q4 report. Watch AMD MI300X adoption rates as a competitive signal.

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