Nvidia posted another record-breaking quarter after the market closed on Wednesday, unveiling its financial performance for the three-month period ending April 26. During that time, the company generated $81.6 billion in revenue—a 20% increase from the prior quarter—along with a historic $75.2 billion in data center revenue. Buoyed by these results, Nvidia has authorized $80 billion in share repurchases.

"Our Blackwell architecture is everywhere, adopted and deployed by every major hyperscaler, every cloud provider, and every major model maker," stated Nvidia CFO Colette Kress. However, the company did signal a potential deceleration in revenue growth, projecting $91 billion for the upcoming quarter—representing a 12% rise. Exports to China had no notable effect on earnings. Although H200 chips have been cleared for U.S. export, Kress noted, "we have yet to generate any revenue, and we are uncertain whether any imports will be allowed into [China]."

A surprising highlight was the sharp increase in Nvidia’s holdings in private companies, listed as "non-marketable equity securities" in the filing. These stakes nearly doubled from January to April, starting the quarter at $22 billion and ending at $43 billion. This surge was largely fueled by $18.5 billion in purchases during the quarter, a dramatic leap from the $649 million in similar acquisitions the previous quarter. Notably, this figure excludes Nvidia’s recent investments in publicly traded firms like Corning and IREN, as well as future commitments that have yet to close. In February, Nvidia committed $30 billion to invest in OpenAI, though the exact deal structure remains undisclosed.

On a conference call discussing the results, CEO Jensen Huang underscored Nvidia’s far-reaching influence, including a major infrastructure buildout with Anthropic. "The amount of capacity we’re going to bring online for Anthropic this year and next year is going to be quite significant," Huang told investors. "Our coverage for Anthropic had been largely zero until this."