Nvidia posts another record quarter, reveals $43B of holdings in startups
Source: TechCrunch
Financial Results
Nvidia announced record revenue for the quarter ending April 26, reporting $81.6 billion in total revenue—a 20% increase from the previous quarter—and a record $75.2 billion in data‑center revenue. On the strength of that performance, the company authorized $80 billion in share repurchases.
Blackwell Architecture
“Our Blackwell architecture is everywhere, adopted and deployed by every major hyperscaler, every cloud provider, and every major model maker,” said Nvidia CFO Colette Kress.
Revenue Outlook
Nvidia projected a slowdown in growth, forecasting $91 billion in revenue for the next quarter, representing 12% growth.
China Export Impact
Chinese exports did not significantly affect earnings. While the H200 chips have been approved for U.S. export, Kress noted, “we have yet to generate any revenue, and we are uncertain whether any imports will be allowed into [China].”
Private‑Equity Stakes
A notable surprise was the rapid increase in Nvidia’s holdings of privately held companies (listed as “non‑marketable equity securities”). The value of these stakes nearly doubled—from $22 billion at the start of the quarter to $43 billion at the end—driven primarily by $18.5 billion in purchases during the quarter. By comparison, the previous quarter saw only $649 million of such purchases.
This figure does not include Nvidia’s recent investments in publicly traded companies such as Corning and IREN, nor does it reflect future commitments that have not yet closed. Nvidia committed to investing $30 billion in OpenAI in February, though the precise structure of the deal was not disclosed.
Comments from Jensen Huang
During the earnings call, CEO Jensen Huang emphasized Nvidia’s expanding impact, highlighting a pending build‑out with Anthropic:
“The amount of capacity we’re going to bring online for Anthropic this year and next year is going to be quite significant. Our coverage for Anthropic had been largely zero until this.”
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