NVIDIA reports $46.7 Billion in revenue despite no H20 sales to China

NVIDIA today reported its earnings results for the quarter ended July 27, 2025. Revenue was $46.7 billion, up 6% from Q1 and up 56% year-over-year. NVIDIA highlighted that its revenue grew sequentially despite having no H20 sales to Chinese customers, and this revenue growth was mainly driven by NVIDIA’s Blackwell Data Center platform, whose revenue grew 17% sequentially. The company's gross margin was at an impressive 72.7%.

Here are the segment-wise highlights:

• Data Center: Second-quarter revenue was $41.1 billion, up 5% from the previous quarter and up 56% from a year ago.
• Gaming and AI PC: Second-quarter Gaming revenue was $4.3 billion, up 14% from the previous quarter and up 49% from a year ago.
• Professional Visualization: Second-quarter revenue was $601 million, up 18% from the previous quarter and up 32% from a year ago.
• Automotive and Robotics: Second-quarter Automotive revenue was $586 million, up 3% from the previous quarter and up 69% from a year ago.

Jensen Huang, founder and CEO of NVIDIA, mentioned that demand for the Blackwell data center AI platform is extraordinary and that production is also ramping up. He said:

“Blackwell is the AI platform the world has been waiting for, delivering an exceptional generational leap — production of Blackwell Ultra is ramping at full speed, and demand is extraordinary. NVIDIA NVLink rack-scale computing is revolutionary, arriving just in time as reasoning AI models drive orders-of-magnitude increases in training and inference performance. The AI race is on, and Blackwell is the platform at its center.”

NVIDIA's board has approved an additional $60.0 billion for the company’s share repurchase authorization. The next quarterly cash dividend will be $0.01 per share, which will be paid on October 2, 2025.

NVIDIA expects its revenue to be $54.0 billion, with a 2% deviation, in the upcoming quarter. This outlook does not include any H20 shipments to Chinese customers.

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Posted Thursday 28 August 2025 at 5:06 pm AEST (my time).

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