NVIDIA hits record revenue, announces $80B buyback plan

NVIDIA hits record revenue, announces $80B buyback plan

NVIDIA has reported a record-breaking revenue of $81.6 billion for the quarter ending April 26, marking a 20% increase from the previous quarter.

The company's data center revenue also hit a record high of $75.2 billion during this period.

The impressive financial performance has prompted NVIDIA to announce an $80 billion share buyback program.

Revenue forecast for next quarter shows expected slowdown

NVIDIA CFO Colette Kress highlighted the widespread adoption of their Blackwell architecture, saying it is "everywhere."

She added that every major hyperscaler, cloud provider, and model maker has adopted and deployed this technology.

Despite the impressive current performance, NVIDIA has projected a revenue slowdown for the next quarter with a forecast of $91 billion in revenue, a 12% growth from this quarter.

Massive increase in investments in private companies

NVIDIA's investment in private companies, listed as "non-marketable equity securities," nearly doubled from January to April.

The company started the quarter with $22 billion in these investments and ended with a whopping $43 billion, mostly due to $18.5 billion worth of purchases during this period.

This is a huge jump from the previous quarter, when only $649 million worth of similar purchases were made.

$30 billion commitment to invest in OpenAI remains undisclosed

The $43 billion figure doesn't include NVIDIA's recent investments in publicly traded companies such as Corning and IREN, or future commitments that are yet to be closed.

Notably, the company had committed to investing $30 billion in OpenAI back in February. However, the exact details of this deal remain undisclosed.