Nvidia is reminding the market what it looks like when you are the main character of the AI boom. The company posted another round of monster Q3 numbers, beating sales and earnings expectations and offering a Q4 outlook that basically says demand is nowhere near slowing down.
Growth snapped back in a big way. Revenue jumped 62.5 percent from a year ago, ending a six-quarter slide in growth. Jensen Huang kept the victory lap short and to the point, telling investors that “Blackwell sales are off the charts, and cloud GPUs are sold out.” Subtle, as always.
Investors liked what they heard. Shares climbed about 3 percent during the day and kept rising after hours. Wedbush’s Dan Ives called it a “pop the champagne moment,” which is analyst-speak for “everyone expected strong results and Nvidia still outperformed them.”
If there was any lingering doubt about demand, Huang cleared that up weeks ago when he said Nvidia already had more than $500 billion in orders lined up for Blackwell and Vera Rubin chips through 2026. Since then, the company has stacked even more partnerships, including deals with Microsoft, Anthropic, and Brookfield’s new AI infrastructure fund. The only real question now is whether the supply chain can keep up.
Last quarter, Nvidia spooked investors when data center revenue came in a hair under estimates, suggesting production was the bottleneck, not demand. Huang responded by saying Blackwell Ultra was ramping at full speed and that Rubin would launch into a “fully scaled-up supply chain.” This quarter’s results show that progress is finally showing up in the numbers.
And it’s not just Nvidia that is getting a lift. The earnings beat is spilling over into the rest of the AI trade, pushing up chipmakers, neocloud names, and data center stocks that live downstream of Nvidia’s supply avalanche. $NVDA ( ▼ 2.32% )