“GAAP and non-GAAP tax rates are expected to be 16.5% plus or minus 1%, excluding any discrete items.”

In context

“s, and for air and liquid-cooled Data Centers. Our current focus is on ramping to strong demand, increasing system availability, and providing the optimal mix of configurations to our customer. As Blackwell ramps, we expect gross margins to moderate to the low-70s. When fully ramped, we expect Blackwell margins to be in the mid-70s. GAAP and non-GAAP operating expenses are expected to be approximately $4.8 billion and $3.4 billion, respectively. We are a data center scale AI infrastructure company. Our investments include building data centers for development of our hardware and software stacks and to support new introductions. GAAP and non-GAAP other income and expenses are expected to be an income of approximately $400 million, excluding gains and losses from non-affiliated investments. GAAP and non-GAAP tax rates are expected to be 16.5% plus or minus 1%, excluding any discrete items. Further financial details are included in the CFO commentary and other information available on our IR websites. In closing, let me highlight upcoming events for the financial community. We will be attending the UBS Global Technology and AI Conference on December 3rd, in Scottsdale. Please join us at CES in Las Vegas, where Jensen will deliver a keynote on January 6th, and we will host a Q&A session for financial analysts the next day on January 7th. Our earnings call to discuss results for the fourth quarter of fiscal 2025 is scheduled for February 26th, 2025. We will now open the call for questions. Operator, can you poll for questions, please? Operator: [Operator Instructions] Your first question comes from the line of C.J. Muse of Cantor Fitzgerald. Your line is open. C.J. Muse: Yes,”