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NVIDIA is a leader in accelerated computing, initially focusing on PC graphics and expanding into various fields such as scientific computing, AI, data science, autonomous vehicles, robotics, and 3D internet applications . The company operates through two main segments: "Compute & Networking" and "Graphics" . NVIDIA's platforms address four major markets: Data Center, Gaming, Professional Visualization, and Automotive, with significant growth driven by the adoption of generative AI and accelerated computing .
- Compute & Networking - Develops and provides data center platforms and AI software, focusing on accelerated computing and generative AI applications.
- Graphics - Produces GPUs for gaming and professional visualization, enhancing visual experiences and computational capabilities.
- Data Center - Offers solutions for data-intensive applications, supporting AI, data science, and scientific computing needs.
- Gaming - Designs and manufactures GPUs and related technologies to enhance gaming experiences.
- Professional Visualization - Provides advanced graphics solutions for professionals in fields such as design, animation, and simulation.
- Automotive - Develops automotive solutions, including technologies for autonomous vehicles and advanced driver-assistance systems.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jen-Hsun Huang ExecutiveBoard | President and CEO | None | Co-founder of NVIDIA in 1993, led the invention of the GPU, and has driven NVIDIA's leadership in AI and accelerated computing. | View Report → |
Ajay K. Puri Executive | EVP, Worldwide Field Operations | None | Joined NVIDIA in 2005, oversees global sales and field operations, with prior experience at Sun Microsystems and Hewlett-Packard. | View Report → |
Colette M. Kress Executive | EVP and CFO | None | Joined NVIDIA in 2013, previously held senior finance roles at Cisco and Microsoft, and oversees NVIDIA's financial strategy and operations. | View Report → |
Debora Shoquist Executive | EVP, Operations | None | Joined NVIDIA in 2007, oversees global operations, including manufacturing and supply chain, with prior leadership roles at JDS Uniphase and Coherent. | View Report → |
Timothy S. Teter Executive | EVP, General Counsel and Secretary | None | Joined NVIDIA in 2017, oversees legal matters and corporate governance, with prior experience as a partner at Cooley LLP. | |
A. Brooke Seawell Board | Director | Director at Tenable Holdings, Venture Partner at New Enterprise Associates | Joined NVIDIA's board in 1997, brings financial and operational expertise, with a background in venture capital and executive leadership. | |
Aarti Shah Board | Director | Director at Sandoz, Trustee at Northwestern Mutual, Trustee at SRLC USA | Joined NVIDIA's board in 2020, brings expertise in IT, cybersecurity, and digital health, with a background in data sciences and drug development. | |
Dawn Hudson Board | Director | Director at Interpublic Group and a private skincare company | Former CMO of the NFL and CEO of Pepsi-Cola North America, brings marketing and brand expertise to NVIDIA's board. | |
Ellen Ochoa Board | Director | None | Joined NVIDIA's board in 2024, brings expertise in science and technology, with a distinguished career as an astronaut and leader in aerospace. | |
Harvey C. Jones Board | Director | Managing Partner at Square Wave Ventures | Joined NVIDIA's board in 1993, brings expertise in semiconductor technologies and complex system design, with a background in private investments. | |
John O. Dabiri Board | Director | Centennial Professor at Caltech, Member of PCAST and SEAB, Trustee at Moore Foundation | Joined NVIDIA's board in 2020, brings expertise in engineering, energy, and advisory roles in science and technology. | |
Mark L. Perry Board | Director | Director at Global Blood Therapeutics | Joined NVIDIA's board in 2005, brings financial and legal expertise, with prior executive roles at Gilead Sciences and Aerovance. | |
Mark Stevens Board | Director | Managing Partner at S-Cubed Capital, Trustee at USC | Joined NVIDIA's board in 2008 (previously served 1993-2006), brings expertise in corporate strategy and financial analysis, with a background in venture capital. | |
Melissa B. Lora Board | Director | Director at Conagra Brands, Trustee at Northwestern Mutual | Joined NVIDIA's board in 2023, brings financial and governance expertise, with a background in senior leadership at Taco Bell Corp.. | |
Michael McCaffery Board | Director | Chairman at Makena Capital Management, Director at C3.ai | Joined NVIDIA's board in 2015, brings financial and investment expertise, with leadership roles in investment management and AI software. | |
Robert Burgess Board | Director | None | Joined NVIDIA's board in 2011, brings senior management and financial expertise, with decades of experience in the computer graphics industry. | |
Stephen C. Neal Board | Director | Chairman Emeritus and Senior Counsel at Cooley LLP | Joined NVIDIA's board in 2019, brings expertise in corporate governance and legal matters, with a background in law and board leadership. | |
Tench Coxe Board | Director | Director at Artisan Partners Asset Management Inc. | Joined NVIDIA's board in 1993, brings extensive experience in venture capital and IT investments, with a long tenure in the technology industry. |
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Given the 15% sequential decline in the networking business despite stating strong demand and multiple cloud design wins, can you unpack the underlying issues in the Networking segment, including any constraints or challenges with Spectrum-X's growth to multiple billions?
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With the debate around scaling large language models potentially stalling, how is NVIDIA assisting customers to overcome these scaling challenges, and is this situation driving even greater demand for Blackwell?
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Can you provide a detailed breakdown of the compute resources allocated to pretraining, reinforcement learning, and inference in AI workloads, and where do you see the most significant growth occurring among these segments?
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Historically, hardware deployment cycles have included periods of digestion; when do you anticipate this phase occurring for NVIDIA, and how many quarters of shipments are required to satisfy the initial demand for Blackwell, considering plans to grow into calendar '26?
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In light of reports about heating issues following the mass change earlier this year, can you address concerns regarding NVIDIA's ability to execute the roadmap as presented, including the upcoming releases of Ultra and the transition to Ruben in 2026?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Supplies and licenses hardware and software for discrete and integrated GPUs, custom chips, and other accelerated computing solutions, including solutions offered for AI. | |
Huawei Technologies Co. Ltd. | Provides hardware and software for GPUs and CPUs, and incorporates accelerated or AI computing functionality as part of its internal solutions or platforms. |
Supplies hardware and software for GPUs, CPUs, and other accelerated computing solutions, and competes in the AI and high-performance computing markets. | |
Designs hardware and software incorporating accelerated or AI computing functionality as part of its internal solutions or platforms. | |
Develops internal hardware and software solutions with accelerated or AI computing functionality for its platforms. | |
Designs hardware and software incorporating accelerated or AI computing functionality as part of its internal solutions or platforms, and also supplies Arm-based CPUs. | |
Develops internal hardware and software solutions with accelerated or AI computing functionality for its platforms. | |
Designs hardware and software incorporating accelerated or AI computing functionality as part of its internal solutions or platforms, and also supplies Arm-based CPUs. | |
Supplies hardware and software for SoC products used in servers, automobiles, autonomous machines, and gaming devices. | |
Provides hardware and software for SoC products and networking products, including switches, network adapters, and cable solutions. | |
Supplies hardware and software for SoC products used in various applications, including servers and embedded systems. | |
Renesas Electronics Corporation | Provides hardware and software for SoC products used in servers, automobiles, and other applications. |
Samsung Electronics Co., Ltd. | Supplies hardware and software for SoC products and is involved in semiconductor manufacturing. |
Designs SoC products internally for its own products and services, such as autonomous vehicles. | |
Provides networking products, including switches, network adapters, and cable solutions. | |
Supplies networking products, including switches, network adapters, and cable solutions. | |
Provides networking products, including switches, network adapters, and cable solutions. | |
Supplies networking products, including optical modules and cable solutions. | |
Provides networking products, including switches, network adapters, and cable solutions. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Direct Customer A | Direct customer that integrates or uses NVIDIA's products | Compute & Networking | Represents 12% of total revenue for Fiscal 2025 (~$15.66B) |
Direct Customer B | Direct customer that integrates or uses NVIDIA's products | Compute & Networking | Represents 11% of total revenue for Fiscal 2025 (~$14.35B) and 13% for 2024 |
Direct Customer C | Direct customer that integrates or uses NVIDIA's products | Compute & Networking | Represents 11% of total revenue for Fiscal 2025 (~$14.35B) |
Indirect Customer (via B) | Indirect customer purchasing through system integrators | Compute & Networking | Estimated at 10% or more of total revenue for Fiscal 2025 (≥$13.05B) |
Recent press releases and 8-K filings for NVDA.
- Excluded China from revenue and profit forecasts due to U.S. export restrictions on advanced AI chips, particularly licensing for H20 chips.
- Reported a $4.5 billion inventory charge and a $2.5 billion revenue shortfall in Q1 2025 as a direct result of the controls.
- CEO Jensen Huang noted any relaxation of the export controls would be an unexpected bonus, indicating no near-term changes are expected.
- Shares fell to $134.81 on NASDAQ (down 1.2%) following the announcement, reflecting concerns over long-term growth without China exposure.
- AI-related tokens such as Render Token spiked 15% in trading volume, highlighting downstream market volatility tied to Nvidia’s GPUs.
- Quantum-classical hybrid computing is emerging as a key focus, with NVIDIA emphasizing breakthroughs in error correction and integrating quantum systems with GPU supercomputers to enhance logical qubit performance.
- European sovereign AI initiatives are accelerating, as NVIDIA outlines significant investments in local cloud buildouts and AI supercomputer capacity, driven by regional demand and sovereign concerns.
- The company announced its new RTX Pro server targeting traditional enterprise IT environments, now in production, which is expected to capture a market opportunity worth hundreds of billions.
- NVIDIA announced a strategic partnership with Novo Nordisk to accelerate drug discovery using AI platforms BioNeMo, Nim, and Omniverse on Denmark’s Gefion AI supercomputer.
- The collaboration aims to predict cellular responses, design drug-like molecules, and build biomedical large language models from global scientific literature to enhance efficiency and efficacy in drug development.
- NVIDIA also launched a separate partnership with IQVIA to deploy AI agents that accelerate pharmaceutical development workflows globally, targeting biotech and medical device customers.
- Nvidia and French AI startup Mistral will deploy the Mistral Compute platform in Europe using 18,000 Nvidia Grace Blackwell Superchips, with full rollout by 2026.
- The platform will be hosted initially in Essonne, France, with expansions planned for Italy, Armenia, and the UK, targeting enterprise and public sector AI development.
- Nvidia aims to build over 20 AI factories across Europe over the next two years, boosting regional AI hardware capacity tenfold.
- Mistral, valued at approximately €6 billion, has raised over $1 billion since inception and will offer both cloud and on-premises deployment options.
- NVIDIA showcased its growing focus on sovereign AI initiatives and international expansion, highlighting key developments in markets such as the UK, the Middle East, and addressing challenges in China ( ).
- The conference detailed the rollout of the Blackwell architecture, including robust GB200 shipments and plans for the Blackwell 300, emphasizing enhanced inferencing performance and improved supply chain efficiencies ( ).
- Advancements in networking solutions, notably NVLink and Ethernet innovations, were discussed as critical enablers for accelerating AI and data center performance across gaming and enterprise applications ( ).
- The UK government committed £1 billion to scale national computing power twentyfold by 2030, targeting parity with 100 000 Nvidia GPUs.
- Nvidia will open a new AI Technology Centre in Bristol to train developers in robotics and machine learning.
- The UK Sovereign AI Industry Forum, featuring firms like BAE Systems, BT, and Standard Chartered, aims to bolster domestic AI infrastructure and support startups.
- Partnerships with AI cloud providers Nscale and Nebius will deploy thousands of next-generation Nvidia GPUs in new UK data centers and AI factories.
- JUPITER is Europe’s fastest supercomputer achieving exascale performance with nearly 24,000 NVIDIA GH200 Grace Hopper Superchips on a liquid-cooled BullSequana XH3000 architecture.
- Broadcom has posted strong earnings and a rising stock that tops a $1 trillion valuation, positioning itself as an emerging AI chip market challenger.
- Broadcom CEO Hock Tan condemned NVIDIA’s proprietary NVLink and championed Ethernet as the only true open networking standard.
- Broadcom is collaborating with major tech firms to develop custom AI chips optimized for specific software demands, potentially outpacing off-the-shelf solutions.
- NVIDIA emphasized the breakthrough of reasoning models like DeepSeek, highlighting its GPU optimizations and token generation efficiency which enable significantly more output compared to traditional models.
- The company noted improved model performance, citing an upgrade from about 70% to 89% accuracy on math benchmarks by extending the model’s reasoning process.
- Global AI infrastructure expansion was a key theme, with discussions on building AI factories in regions such as Taiwan, Japan, Germany, the UK, and the U.S., reflecting accelerated demand and deployment of high-performance computing resources.
- Strategies for software monetization were mentioned, including enterprise support initiatives and enhanced data center software to capture additional value from NVIDIA’s technology platform.
- Directors’ sell-off: Mark Stevens sold over 1 million shares (
$150 million), Robert Burgess sold 50,000 shares ($6.74 million) and John Dabiri sold 660 shares; no insider purchases in the past year. - Bullish analyst outlook: Consensus ‘Outperform’ rating from 64 brokerages with average recommendation score of 1.8 and an average price target implying 23% upside.
- Valuation metrics: Current P/E ratio of 45.61 vs. industry median 28.09, and a GF Value intrinsic estimate of $190.76 indicating modest undervaluation (price-to-GF-Value ratio of 0.73).
- Nvidia posted $44.1 billion in quarterly revenue, driven by strong demand for AI chips and its H20 product line, enabling it to overtake Microsoft as the world’s most valuable publicly traded company.
- Its networking segment grew 64% QoQ, delivering 86.17% YoY revenue growth and a 70.11% gross margin; NVLink sales exceeded $1 billion and Spectrum-X Ethernet reached a $2 billion quarterly run rate.
- Broadcom introduced its Tomahawk 6 switch to challenge Nvidia’s InfiniBand in AI networking, intensifying competition as Ethernet solutions gain traction.
- Investors remain cautious of potential volatility despite a rally in semiconductor stocks, and are awaiting Broadcom’s fiscal Q2 outlook—estimated revenue of $14.96 billion and adjusted EPS of $1.57—for further market insight.