Nvidia delivered a powerhouse third quarter, underscoring its dominant position in the accelerating AI compute cycle. The company reported $57 billion in revenue, a staggering 62% jump year-over-year, while GAAP net income hit $32 billion, rising 65% from the same period last year. Both metrics surpassed Wall Street expectations, reinforcing the bullish tone struck by founder and CEO Jensen Huang.
Much of this explosive growth continues to stem from Nvidia’s data center segment, which remains the engine of its business. Data center revenue reached a record $51.2 billion, up 25% from the previous quarter and 66% from a year ago, fueled by an insatiable global appetite for AI infrastructure. The rest of Nvidia’s revenue—about $5.8 billion—was driven largely by gaming at $4.2 billion, complemented by professional visualization and automotive sales.
CFO Colette Kress highlighted that the data center’s momentum is being powered by rapid advances in computing and AI systems, along with rising demand for agentic applications. She emphasized that Nvidia announced AI infrastructure and “AI factory” projects totaling around 5 million GPUs this quarter alone. “This demand spans every market, CSPs, sovereigns, modern builders enterprises and super computing centers, and includes multiple landmark build outs,” she noted.
A major catalyst in this surge is the Blackwell GPU lineup. Nvidia reported that Blackwell Ultra, introduced in March, has quickly become its strongest-performing product. Huang underscored the unprecedented appetite for the architecture, stating, “Blackwell sales are off the charts, and cloud GPUs are sold out,” adding that compute demand is “accelerating and compounding across training and inference — each growing exponentially.” He described the current environment as “the virtuous cycle of AI,” with the ecosystem scaling across industries, geographies, and emerging model builders.
However, not all segments hit expectations. Shipments of the H20 data center GPU reached 50 million, a softer result attributed to tightening U.S.–China restrictions and intensifying competition in China. Kress acknowledged the setback, explaining that “sizable purchase orders never materialized in the quarter due to geopolitical issues,” but emphasized Nvidia’s commitment to constructive engagement with both governments.
Looking ahead, Nvidia expects $65 billion in Q4 revenue, a forecast that lifted shares more than 4% in after-hours trading. And in Huang’s view, the mission is clear: sustained expansion, not speculation. “There’s been a lot of talk about an AI bubble,” he said. “From our vantage point, we see something very different.”
