Nvidia founder and CEO Jensen Huang struck a bullish tone within the firm’s third-quarter earnings. And primarily based on the corporate’s outcomes, there could also be purpose to.

Nvidia reported income of $57 billion within the third quarter, 62% increased in comparison with the identical quarter final yr. The corporate’s web revenue on a GAAP foundation was $32 billion, 65% increased year-over-year. Each income and revenue outcomes beat Wall Road expectations.

The income image reveals an organization booming thanks largely to its information middle enterprise. Income generated by Nvidia’s information middle enterprise was a report $51.2 billion, up 25% from the earlier quarter and up 66% from a yr in the past. The remaining $5.8 billion in income got here from Nvidia’s gaming enterprise with $4.2 billion, adopted by gross sales in skilled visualization and automotive.

Nvidia’s CFO Colette Kress famous in a press release to shareholders its information middle enterprise has been fueled by an acceleration of computing, highly effective AI fashions, and agentic functions. Throughout the firm’s Q3 name, Kress stated on this previous quarter, the corporate introduced AI manufacturing unit and infrastructure initiatives amounting to an mixture of 5 million GPUs.

“This demand spans each market, CSPs, sovereigns, trendy builders enterprises and tremendous computing facilities, and consists of a number of landmark construct outs,” Kress stated.

Blackwell Extremely, a GPU unveiled in March and out there in a number of configurations, has been significantly robust and is now the chief inside the firm. Earlier variations of the Blackwell structure additionally noticed continued robust demand, in line with the corporate.

Huang stated gross sales of its Blackwell GPU chips “are off the charts.”

“Blackwell gross sales are off the charts, and cloud GPUs are bought out,” Huang stated within the firm’s Q3 earnings assertion. “Compute demand retains accelerating and compounding throughout coaching and inference — every rising exponentially. We’ve entered the virtuous cycle of AI. The AI ecosystem is scaling quick — with extra new basis mannequin makers, extra AI startups, throughout extra industries, and in additional international locations. AI goes in every single place, doing every part, unexpectedly.”

Kress did observe that the corporate’s shipments of H20, an information middle GPU designed for generative AI and high-performance computing, have been 50 million, a disappointing outcome resulting from its incapability to promote to China.

“Sizable buy orders by no means materialized within the quarter resulting from geopolitical points and the more and more aggressive market in China,,” Kress famous on the earnings name. “Whereas we have been upset within the present state that forestalls us from transport extra aggressive information middle compute merchandise to China, we’re dedicated to continued engagement with the U.S. and China governments, and can proceed to advocate for America’s skill to compete around the globe.”

Importantly, Nvidia is forecasting extra development with a projected income of $65 billion within the fourth quarter, serving to push its share value up greater than 4% in after-hours buying and selling.

The upshot, at the very least in Huang’s view: overlook concerning the bubble, there’s solely development.

“There’s been quite a lot of discuss an AI bubble,” Jensen stated throughout the firm’s earnings name. “From our vantage level, we see one thing very completely different.”