Nvidia Reports Record Quarter, Unveils $43 Billion in Startup Investments

Nvidia reported another record revenue figure after the market closed on Wednesday, announcing its financial results for the quarter ending April 26. During this period, the company generated $81.6 billion in revenue, a 20% increase from the previous quarter, and a record $75.2 billion in data center revenue. As a result, Nvidia is authorizing $80 billion in share repurchases.

“Our Blackwell architecture is prevalent, adopted and deployed by all major hyperscalers, every cloud provider, and leading model makers,” stated Nvidia CFO Colette Kress.

Nvidia also projected a slowdown in revenue growth, forecasting $91 billion in revenue for the next quarter, which represents a 12% increase.

Chinese exports had little impact on the company’s earnings. Although H200s have been approved for US export, “we have yet to generate any revenue, and we are uncertain whether any imports will be allowed into [China],” Kress noted.

A surprising factor was the significant increase in Nvidia’s stakes in privately held companies, listed as “non-marketable equity securities.” These stakes almost doubled between January and April, starting at $22 billion and reaching $43 billion, driven mainly by $18.5 billion in purchases during the quarter. The prior quarter recorded only $649 million in similar purchases.

This figure does not include Nvidia’s investments in publicly traded companies like Corning and IREN, nor does it consider future commitments that have not yet been finalized. Notably, Nvidia committed to investing $30 billion in OpenAI in February, but the specifics of the deal were not disclosed.

During a call discussing the results, Jensen Huang highlighted the extensive impact of Nvidia, including an impending expansion with Anthropic. “The capacity we’re going to bring online for Anthropic this year and next will be quite significant,” Huang told investors. “Our coverage for Anthropic had been nearly zero until now.”