Nvidia has once again delivered numbers that dominate the tech landscape. In its latest fiscal third quarter, the chip giant didn’t just beat expectations, it set new ones. With soaring demand for AI computing and an aggressive product cycle, Nvidia’s performance is signaling that talk of an “AI bubble” may be fading fast.

Record $57 Billion Revenue Signals Explosive AI Momentum

Nvidia posted $57 billion in revenue, a massive 62% jump compared to the same quarter last year.
The company also reported $32 billion in GAAP net income, up 65% year-over-year, outpacing the projections of most analysts.

These results reinforce Nvidia’s position as the powerhouse fueling today’s AI infrastructure boom.

Data Center Dominance: $51.2 Billion and Growing

The biggest driver of Nvidia’s success continues to be its data center business, a core segment powering cloud AI, large-scale training environments, and advanced enterprise applications.

• Data center revenue: $51.2 billion
• Quarter-over-quarter growth: 25%
• Year-over-year growth: 66%

Nvidia CFO Colette Kress highlighted that the acceleration of AI computing, especially new agentic and foundation-model applications is pushing unprecedented demand. During the quarter, Kress revealed that Nvidia sold 5 million GPUs, spanning cloud providers, sovereign AI projects, enterprise builders, and supercomputing centers.

Blackwell Ultra Leads a New GPU Wave

The Blackwell Ultra, introduced earlier this year, has quickly become Nvidia’s star product. Available in multiple configurations, it now leads the company’s GPU lineup. Earlier Blackwell variants also continue to see “sustained strong demand,” according to Nvidia.

CEO Jensen Huang described the surge clearly:

“Blackwell sales are off the charts, and cloud GPUs are sold out.”

This aligns with Nvidia’s broader message: global AI adoption is not slowing, it’s accelerating.

Huang: AI Ecosystem Is Scaling “All at Once”

Huang emphasized that compute demand is compounding across both training and inference workloads, each growing exponentially. He described a “virtuous cycle of AI,” driven by:

• New foundation model developers
• A surge in AI startups
• Adoption across more sectors and countries
• Increasing reliance on high-performance computing

From cloud giants to governments, the common theme is aggressive investment in AI infrastructure.

Q4 Forecast: Nvidia Expects Revenue to Hit $65 Billion

Looking ahead, Nvidia projects $65 billion in revenue for the fourth quarter, a guidance far above what many considered possible only months ago. The forecast immediately boosted Nvidia’s stock price by more than 4% in after-hours trading.

This outlook reinforces what Nvidia executives are signaling: AI demand isn’t cooling off, it is expanding into a global, multi-industry growth phase.

Is the “AI Bubble” Bursting? Nvidia Doesn’t Think So

Despite recurring commentary about an AI bubble, Nvidia’s numbers and its forward guidance paint a different picture. Its record-breaking quarter suggests structural, not speculative, demand for AI computing.

In Huang’s own words: the debate is over “there is only growth.”

Conclusion

Nvidia’s latest earnings show more than financial strength. They reflect a rapidly maturing AI ecosystem and global investment wave that appears far from peaking. Whether this pace continues is something the market will watch closely, but for now, Nvidia’s results speak for themselves.

Disclaimer: This article is for informational and commentary purposes only and does not constitute financial advice or investment recommendations. Always conduct your own research or consult a licensed financial professional before making investment decisions.