Nvidia’s Record Q3 Earnings Reveal High Demand for AI GPUs

Nvidia’s latest earnings paint a picture of a company not just riding the AI wave, but helping create its momentum. The chipmaker reported an astonishing $57 billion in revenue for the third quarter, a 62% jump from the same period last year (TechCrunch; Yahoo Finance; Startup Ecosystem). This surge was matched by equally impressive profitability: net income soared to $32 billion, up 65% year-over-year (TechCrunch; Yahoo Finance; Startup Ecosystem). Both figures blew past Wall Street’s expectations and reinforced CEO Jensen Huang’s confidence that the AI boom is far from cooling.

A major driver of this growth was Nvidia’s data center division, now the backbone of the company’s success. The segment brought in a record $51.2 billion, an increase of 25% from the previous quarter and 66% from last year (TechCrunch; Yahoo Finance; Startup Ecosystem). This massive performance reflects rising demand for advanced computing power, driven by AI models, agentic applications, and global infrastructure projects. According to CFO Colette Kress, Nvidia announced AI factory and infrastructure initiatives totaling 5 million GPUs during the quarter, with interest coming from cloud providers, sovereign governments, enterprises, and supercomputing centers alike (TechCrunch; Yahoo Finance).

A standout within Nvidia’s product lineup is the Blackwell Ultra GPU, unveiled earlier this year and already climbing to the top of the company’s offerings. Huang emphasized that sales of the Blackwell chips are “off the charts,” with cloud GPU inventories fully sold out (TechCrunch; Yahoo Finance). He described accelerating demand across both AI training and inference workloads, noting that both are growing exponentially. This surge, he said, has pushed the industry into a “virtuous cycle of AI,” marked by more foundation model developers, more startups, more industries joining the ecosystem, and broader global adoption of AI technologies (TechCrunch; Yahoo Finance).

Not every product, however, delivered as expected. Shipments of Nvidia’s H20 data center GPU reached 50 million units, considered disappointing due to geopolitical restrictions limiting sales to China (TechCrunch; Yahoo Finance). Kress pointed out that significant purchase orders from China never materialized and acknowledged heightened competition in the region. Despite these challenges, Nvidia says it remains committed to working with U.S. and Chinese governments to ensure American competitiveness in global markets (TechCrunch; Yahoo Finance).

Yet even with these setbacks, Nvidia’s outlook remains remarkably strong. The company is forecasting $65 billion in revenue for the fourth quarter, a projection that quickly boosted its stock by more than 4% in after-hours trading (TechCrunch; Yahoo Finance). For Huang, these results directly counter ongoing speculation about an AI bubble. From his perspective, the momentum behind AI development and adoption is real, sustained, and accelerating, not an inflated trend waiting to burst (TechCrunch; Yahoo Finance; Startup Ecosystem). With record-breaking financials, soaring demand for cutting-edge GPUs, and an ambitious growth roadmap, Nvidia is making a compelling case that the AI boom still has a long way to go.

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Works Cited

TechCrunch. “Nvidia’s Record $57B Revenue and Upbeat Forecast Quiets AI Bubble Talk.” TechCrunch, 19 Nov. 2025. https://techcrunch.com/2025/11/19/nvidias-record-57b-revenue-and-upbeat-forecast-quiets-ai-bubble-talk/

Yahoo Finance. “Nvidia’s Record $57B Revenue and Upbeat Forecast Quiets AI Bubble Talk.” Yahoo Finance, 19 Nov. 2025. https://finance.yahoo.com/news/nvidia-posts-57b-record-revenue-235401524.html

Startup Ecosystem. “Nvidia’s Record Revenue and AI Growth Forecast.” Startup Ecosystem, 2025. https://www.startupecosystem.ca/news/nvidias-record-revenue-and-ai-growth-forecast/

NVIDIA. GeForce Graphics Cards. NVIDIA, https://www.nvidia.com/en-us/geforce/graphics-cards/.

NVIDIA. “Blackwell Platform Boosts Water Efficiency with Liquid Cooling in Data Centers and AI Factories.” NVIDIA Blog, https://blogs.nvidia.com/blog/blackwell-platform-water-efficiency-liquid-cooling-data-centers-ai-factories/.

Lunden, Ingrid. “Nvidia Reports Record Sales as the AI Boom Continues.” TechCrunch, 27 Aug. 2025, https://techcrunch.com/2025/08/27/nvidia-reports-record-sales-as-the-ai-boom-continues/.