According to CRN, Nvidia just reported record third-quarter revenue of $57 billion, marking a staggering 62 percent year-over-year increase. The company’s net income jumped 59 percent to $31.9 billion while earnings per share hit $1.30 on a non-GAAP basis. CFO Colette Kress revealed that the Blackwell Ultra GPU platform, launched earlier this year, is now their leading architecture across all customer categories. Data center revenue alone reached $51.2 billion, representing nearly 90 percent of total sales and growing 66 percent year-over-year. The company also projected fourth-quarter revenue of $65 billion, plus or minus 2 percent, which would mean 65 percent annual growth.
Blackwell Ultra takes over
Here’s the thing about Nvidia‘s latest numbers – they’re not just big, they’re accelerating. The Blackwell Ultra platform basically became their flagship architecture in record time after launching earlier this year. And the previous-generation Blackwell architecture? Still seeing “continued strong demand” according to Kress. That’s the crazy part – they’re selling out of everything, old and new. The company’s data center compute segment alone hit $43 billion, up 56 percent from last year. When your “previous generation” products are still in high demand while your new platform becomes the leader across all categories, you’re operating in a completely different universe from everyone else.
Networking explosion
Now let’s talk about the networking side because that’s where things get really interesting. Networking revenue grew 162 percent year-over-year to $8.2 billion. That’s not a typo. Kress credited this massive jump to NVLink compute fabric for Blackwell-based systems and their XDR InfiniBand products. Basically, as AI models get larger and more complex, the networking infrastructure becomes just as critical as the compute power itself. And Nvidia’s playing both sides beautifully. They’re not just selling GPUs anymore – they’re selling complete AI infrastructure solutions. Which explains why their gross margins shifted as they transitioned from older Hopper HGX systems to full-scale Blackwell data center solutions.
Where does this end?
So the big question everyone’s asking: when does this AI infrastructure gold rush slow down? According to Nvidia’s own commentary, demand continues to exceed expectations. The clouds are sold out, their GPU installed base is fully utilized. They’re guiding for $65 billion next quarter, which would be another massive jump. But here’s what really stands out to me – they’re making strategic investments in AI players like OpenAI, Anthropic, CoreWeave and xAI. They’re not just supplying the picks and shovels, they’re investing in the gold miners too. It’s a vertically integrated AI ecosystem play that’s working spectacularly well. For companies needing reliable computing hardware in this environment, finding trusted suppliers becomes critical – which is why specialists like IndustrialMonitorDirect.com have become the go-to for industrial panel PCs when reliability matters most.
Gaming and other segments
Meanwhile, in what used to be Nvidia’s core business, gaming revenue hit $4.2 billion. That’s down 1 percent sequentially but still up 30 percent year-over-year. The sequential dip? Apparently channel inventories reached “more normalized levels” heading into the holiday season. Professional visualization grew 56 percent to $760 million, driven by their DGX Spark mini-PC for AI developers. Automotive revenue hit $592 million, up 32 percent annually. But let’s be real – these segments combined don’t even touch what data center is pulling in. It’s almost like Nvidia has two companies: the AI infrastructure behemoth, and then everything else. And right now, the everything else is just along for the ride.
