Nvidia has delivered another record quarter as demand for AI chips continues to push the company higher.
The chipmaker reported $81.6 billion in revenue for the quarter that ended on April 26, marking a 20% jump from the previous quarter. Its data center business remained the biggest driver, bringing in a record $75.2 billion. With revenue still growing strongly, Nvidia also approved $80 billion in share buybacks.
The company said its Blackwell architecture is now being used by major cloud providers, hyperscalers, and AI model makers. Nvidia expects revenue to reach $91 billion in the next quarter, although that would show slower growth compared with the latest quarter. The company also said exports to China have not yet made a major impact on its earnings, even after H200 chips were approved for U.S. export.
One of the biggest surprises came from Nvidia’s private startup holdings. The company revealed that its stakes in privately held companies nearly doubled between January and April, rising from $22 billion to $43 billion. Most of that increase came from $18.5 billion in purchases during the quarter, far higher than the $649 million in similar purchases made in the previous quarter.
These numbers do not include Nvidia’s recent investments in publicly traded companies such as Corning and IREN. They also do not include future investment commitments that have not yet closed. Nvidia had committed to investing $30 billion in OpenAI in February, but the company has not shared the exact structure of that deal.
Nvidia CEO Jensen Huang also pointed to the company’s growing role in powering AI companies, including Anthropic. He told investors that Nvidia expects to bring a significant amount of capacity online for Anthropic this year and next year, after previously having very little coverage for the company. The update shows how deeply Nvidia is now tied to the AI industry, not only as a chip supplier but also as a major investor in the companies building the next generation of AI tools.
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