NVIDIA posted extraordinary third-quarter results, with revenue reaching $35.1 billion, up 94% year-over-year, as enterprises worldwide accelerate their AI infrastructure investments. The company's data centre segment achieved record revenue of $30.8 billion, a 112% year-over-year increase driven by strong demand for AI computing solutions. However, the company faced questions about emerging challenges in the AI chip market.
"The age of AI is in full steam, propelling a global shift to NVIDIA computing," said Huang. "Enterprises are adopting agentic AI to revolutionise workflows. Industrial robotics investments are surging with breakthroughs in physical AI."
The quarter saw significant enterprise initiatives across multiple sectors. NVIDIA launched Denmark's largest sovereign AI supercomputer powered by over 1,500 H100 GPUs, while SoftBank Corp. began building Japan's most powerful AI supercomputer using the NVIDIA Blackwell platform. U.S. technology giants, including Accenture, Deloitte, and Google Cloud, expanded their use of NVIDIA's AI software for custom applications. The company also deepened its manufacturing presence through Foxconn's adoption of NVIDIA Omniverse for digital twins and industrial AI, while Lenovo committed to launching new hybrid AI solutions optimised for NVIDIA's enterprise software.
The explosive growth has doubled NVIDIA's cash reserves to $35 billion over the past year, fuelling speculation about potential acquisitions. This speculation is significant as it could signal a strategic move by NVIDIA to counter emerging competitive pressures in the AI inference computing market.
During the earnings call, CEO Jensen Huang defended NVIDIA's position against concerns about changing AI model development methods, particularly "test-time scaling" used in models like OpenAI's o1. Huang emphasised NVIDIA's strong position and results.