Nvidia CEO: Customers are buying now, not waiting for next chip
Nvidia reported first quarter results that topped Wall Street expectations on both the top and bottom lines. The tech giant also announced a 10-for-1 stock split and is raising its dividend.
For Q1 of fiscal 2025, Nvidia (NVDA) reported revenue rose 262% to $26.0 billion, with its Data Center being the biggest contributor. Revenue for that unit soared 427% year-over-year to $22.6 billion.
There have been concerns that with the company's new Blackwell platform coming later this year, customers may be holding off on purchasing Nvidia's Hopper products. In an exclusive interview, Nvidia founder and CEO Jensen Huang said that's not the case. "Hopper demand grew throughout this quarter after we announced Blackwell, and so that kind of tells you how much demand there is out there. People want to deploy these data centers right now. They want to put our GPUs to work right now and start making money and start saving money. And so that demand is just so strong," Huang says.
One point Huang made is just how big inference is. Nvidia describes AI inference as "the process of using a trained model to make predictions on never-seen-before data." Huang tells Yahoo Finance's Julie Hyman and Dan Howley Nvidia is in a "great position" regarding inference because of how complicated the problem is. Inference is going to be "a giant market opportunity for us," Huang adds.
Watch the video above to hear how Huang says automakers like Tesla (TSLA) are using his company's products to power the future of autonomous vehicles.
This post was written by Stephanie Mikulich.
For more Yahoo Finance coverage of Nvidia:
Nvidia stock pops 4% after earnings beat forecasts, announces stock split and dividend hike
Nvidia CEO Jensen Huang is the 'man of the year': Investor
Why this analyst says Nvidia is not a stock to buy