Nvidia grows even without official China deliveries
Despite promises from the US government, Nvidia is not allowed to sell H20 GPUs to China. Nevertheless, the company is doing very well.
Nvidia's Blackwell accelerator.
(Image: heise medien)
Nvidia exceeded its own sales forecast of 45 billion US dollars for the fiscal period from May to July: The company turned over a good 46.7 billion dollars, with an operating profit of 28.4 billion and a net profit of 26.4 billion dollars.
Sequential growth compared to the beginning of the year shrinks to six percent because Nvidia is still not officially allowed to sell AI accelerators to China. Although the US Department of Commerce has promised to approve supply licenses, these have not yet materialized. According to the announcement, Nvidia does not expect any deliveries to China until October either. The only sales from there will therefore come from the unofficial gray and black market as well as gaming hardware.
The year-on-year growth rates show how Nvidia continues to benefit from the AI hype: Sales and profits are growing by 56 to 59 percent, although Nvidia had long been thick in the AI accelerator business a year ago. The gross margin is back at 72.4 percent.
Network record
The Data Center Group achieved a new record with a turnover of 41.1 billion dollars. In recent months, however, the focus has increasingly shifted to the network division. It achieved record sales of almost 7.3 billion dollars, 46 percent more than at the beginning of the year and almost twice as much as in the same period last year.
According to Nvidia's CFO Colette Kress, all network product lines are doing well: Spectrum-X for Ethernet, Infiniband for networking supercomputers and Nvlink for connecting numerous GPUs. Nvidia is also likely to sell more of its own server systems.
Sales of AI accelerators fell slightly compared to the beginning of the year to 33.8 billion dollars. In the previous quarter, Nvidia still recorded some accelerator sales to China, but recently none at all. However, the company says it has found a customer outside China for the H20 GPU, which is actually exclusive to China. This customer accounted for 650 million dollars in sales.
(Image:Â Nvidia)
GeForce record
The gaming division based around GeForce graphics cards achieved a new record turnover of almost 4.3 billion dollars, which is once again not worth mentioning for Nvidia. Gaming grew sequentially by 14 percent and by 49 percent compared to the same period last year.
Operating cash flow falls by 44 percent to 15.4 billion dollars within three months because Nvidia recognizes high liabilities to be paid and provisions.
Videos by heise
More growth also thanks to GB300
Nvidia expects stronger growth again in the current fiscal quarter up to the end of October: the company is forecasting sales of 54 billion dollars, even without H20 for China. That would be 16 percent more than in the previous quarter. The management team intends to continue lobbying for deliveries to China, including new Blackwell GPUs.
In the analyst conference on the business figures, CFO Kress said that Nvidia is now shipping GB300 boards aka Blackwell Ultra with a particularly large amount of memory. CEO Jensen Huang expects strong GB300 sales in the coming months.
The stock market is not too pleased with the annual report. Nvidia's share price has fallen by 2.5 percent since the announcement. Apparently, expectations for sales of AI accelerators in particular were higher.
Empfohlener redaktioneller Inhalt
Mit Ihrer Zustimmung wird hier ein externer Preisvergleich (heise Preisvergleich) geladen.
Ich bin damit einverstanden, dass mir externe Inhalte angezeigt werden. Damit können personenbezogene Daten an Drittplattformen (heise Preisvergleich) übermittelt werden. Mehr dazu in unserer Datenschutzerklärung.
(mma)
