NVIDIA Corporation (NVDA)

“GAAP and non GAAP tax phase are expected to be 17%. Plus or minus 1% excluding any discrete items.”

“GAAP and non GAAP other income and expenses are expected to be an income of approximately $500 million, excluding gains and losses from non-marketable and publicly held equity securities.”

“Gap and non GAAP operating expenses are expected to be approximately $6.7 billion and $5 billion respectively.”

“GAAP and non GAAP gross margins are expected to be 74.875% respectively. Plus or minus 50 basis points.”

“Consistent with last quarter, we are not assuming any data center compute revenue from China.”

“At the midpoint, our outlook implies 14% sequential growth driven by continued momentum in the Blackwell architecture.”

“Total revenue is expected to be $65 billion plus or minus 2%.”

“The number will grow. And we will achieve, I'm sure, additional needs for compute that will be shippable by fiscal year '26.”

“We are working into our $500 billion forecast. And we are on track for that as we have finished some of the quarters.”

“Currently, we have visibility to a half a trillion dollars in Blackwell and Rubin revenue from the start of this year through the end of calendar year 2026.”

“So we're taking all of that into account, but we do believe if we look at working again on cost improvements, cycle time, and mix, that we will work to try and hold at our gross margins in the mid-seventies.”

“We are working on a strategic partnership with OpenAI focused on helping them build and deploy at least 10 gigawatts of AI data centers.”

“So there's definitely an opportunity for us to have more on top of the $500 billion that we announced.”

“Looking ahead, to fiscal year twenty twenty-seven, input costs are on the rise but we are working to hold gross margins in the mid-seventies.”

“The Rubin platform is on track to ramp in the 2026.”

“We are on track to achieve over $20 billion in Sovereign AI revenue this year, more than double that of last year.”

“GAAP and non-GAAP other income and expenses are expected to be an income of approximately $500 million, excluding gains and losses from non-marketable and publicly held equity securities.”

“For the full year, we expect operating expenses to grow in the high thirties range year over year, up from our prior expectations of the mid-thirties.”

“GAAP and non-GAAP operating expenses are expected to be approximately $5.9 billion and $4.2 billion, respectively.”

“We continue to expect to exit the year with non-GAAP gross margins in the mid-seventies.”

“We expect widespread market availability in the second half of the year as CorWeave prepares to bring their GV300 instance to market”

“This output is expected to accelerate even further throughout the third quarter as additional capacity comes online.”

“Rubin remains on schedule for volume production next year.”

“This year is obviously a record-breaking year. I expect next year to be a record-breaking year.”

“As enterprises modernize data centers, RTX Pro servers are poised to become a multibillion-dollar product line.”

“We have a line of sight to projects requiring tens of gigawatts of NVIDIA Corporation AI infrastructure in the not-too-distant future.”

“Well, we would like to serve all of it. And I think we're on track to serve most of it.”

“Process qualification is underway, with volume production expected by year-end.”

“DGX Spark will be available in calendar Q3, and DGX Station later this year.”

“Demand for our AI workstations is strong, and we expect sequential revenue growth to resume in Q2.”

“We announced a partnership with Yam Brands, the world's largest restaurant company, to bring NVIDIA Corporation AI to 500 of its restaurants this year, expanding to 61,000 restaurants over time to streamline order taking, optimize operations, and enhance service across its restaurants.”

“We expect to continue improving the performance of Blackwell through its operational life as we have done with Hopper and Ampro.”

“and are on track to further ramp output this quarter.”

“Sampling of GB300 systems began earlier this month at the major CSPs, and we expect production shipments to commence later this quarter.”

“Our investments include expanding our infrastructure capabilities and AI solutions, and we plan to grow these investments throughout the fiscal year.”

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

“GAAP and non-GAAP other income and expenses are expected to be an income of $450 million, excluding gains and losses from non-marketable and publicly held equity securities.”

“We continue to expect full-year fiscal year 2026 operating expense growth to be in the mid-thirty percent range.”

“GAAP and non-GAAP operating expenses are expected to be approximately $5.7 billion and $4 billion, respectively.”

“We are continuing to work towards achieving gross margins in the mid-seventies range late this year.”

“We remain committed to our annual product cadence with our roadmap extending through 2028, tightly aligned with the multiple-year planning cycles of our customers.”

“We will grow strongly in 2025.”

“NVIDIA Corporation's automotive vertical revenue is expected to grow to approximately $5 billion this fiscal year.”

“GAAP and non-GAAP tax rates are expected to be 17% plus or minus 1% excluding any discrete items.”

“GAAP and non-GAAP other incoming expenses are expected to be an income of approximately $400 million.”

“GAAP and non-GAAP operating expenses are expected to be approximately $5.2 billion and $3.6 billion.”

“Within data center, we expect sequential growth from both. Compute and networking.”

“Continuing with its strong demand, we expect a significant ramp of Blackwell in Q1.”

“As Blackwell ramps, we expect gross margins to be in the low seventies.”

“We expect strong sequential growth in Q1 as supply increases.”

“We expect networking a return to growth in Q1.”

“China shipments absent any change in regulations, we believe that will remain roughly at the current percentage.”

“Our sovereign AI and our pipeline going forward is still absolutely intact as those are working to build these foundational models in their own language, in their own culture, and working in terms of the enterprises within those countries.”

“We will continue to be selling Hopper in this quarter, in Q4 for sure, that is across-the-board in terms of all of our different configurations”

“while demand is greatly exceed supply, we are on track to exceed our previous Blackwell revenue estimate of several billion dollars as our visibility into supply continues to increase.”

“By year-end, they will have boosted NVIDIA GPU deployments in the country by nearly 10 times.”

“Overall, our software, service, and support revenue is annualizing at $1.5 billion, and we expect to exit this year annualizing at over $2 billion.”

“We expect NVIDIA AI Enterprise full year revenue to increase over 2 times from last year and our pipeline continues to build.”

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

“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 operating expenses are expected to be approximately $4.8 billion and $3.4 billion, respectively.”

“Total revenue is expected to be $37.5 billion, plus or minus 2%, which incorporates continued demand for Hopper architecture and the initial ramp of our Blackwell products”

“NVIDIA software will exit the year at a $2 billion run rate.”

“Spectrum-X is well on-track to begin a multi-billion dollar product line within a year.”

“We do see right now the demand expectations. We do see the visibility that will be a growth opportunity in Q4.”

“We have many new products for Hopper, our existing products for Hopper that we believe will start continuing to ramp, in the next quarters, including our Q3 and those new products moving to Q4.”

“Next year is going to be a great year. We expect to grow our data center business quite significantly next year.”

“GAAP and non-GAAP tax rates are expected to be 17%, plus or minus 1%, excluding any discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be about $350 million, including gains and losses from non-affiliated investments and publicly-held equity securities.”

“Full-year operating expenses are expected to grow in the mid-to-upper 40% range as we work on developing our next generation of products.”

“GAAP and non-GAAP operating expenses are expected to be approximately $4.3 billion and $3.0 billion, respectively.”

“For the full-year, we expect gross margins to be in the mid-70% range.”

“As our data center mix continues to shift to new products, we expect this trend to continue into the fourth quarter of fiscal 2025.”

“We expect Blackwell production ramp in Q4.”

“Healthcare is also on its way to being a multi-billion dollar business as AI revolutionizes medical imaging, surgical robots, patient care, electronic health record processing, and drug discovery.”

“Automotive will drive multi-billion dollars in revenue across on-prem and cloud consumption and will grow as next-generation AV models require significantly more compute.”

“We believe sovereign AI revenue will reach low-double-digit billions this year.”

“We plan to launch new Spectrum-X products every year to support demand for scaling compute clusters from tens of thousands of DPUs today to millions of GPUs in the near future.”

“Demand for Blackwell platforms is well above supply, and we expect this to continue into next year.”

“Hopper shipments are expected to increase in the second half of fiscal 2025.”

“We see increasing demand of Hopper through this quarter. And we expect to be -- we expect demand to outstrip supply for some time as we now transition to H200, as we transition to Blackwell.”

“GAAP and non-GAAP tax rates are expected to be 17%, plus or minus 1%, excluding any discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be an income of approximately, excuse me, approximately $300 million, excluding gains and losses from nonaffiliated investments.”

“GAAP and non-GAAP operating expenses are expected to be approximately $4 billion and $2.8 billion, respectively.”

“For the full year, we expect gross margins to be in the mid-70s percent range.”

“We expect sequential growth in all market platforms.”

“DRIVE Thor is slated for production vehicles starting next year.”

“Omniverse Cloud APIs will be available on Microsoft Azure later this year.”

“Blackwell will be available in over 100 OEM and ODM systems at launch, more than double the number of Hopper's launch and representing every major computer maker in the world.”

“We started sampling the H200 in Q1 and are currently in production with shipments on track for Q2.”

“From nothing the previous year, we believe Sovereign AI revenue can approach the high single-digit billions this year.”

“As generative AI makes its way into more consumer Internet applications, we expect to see continued growth opportunities as inference scales both with model complexity as well as with the number of users and number of queries per user, driving much more demand for AI compute.”

“We expect automotive to be our largest enterprise vertical within Data Center this year, driving a multibillion revenue opportunity across on-prem and cloud consumption.”

“We are on track to ship Spectrum-X this quarter.”

“This last quarter, we -- our business significantly declined as we -- as we paused in the marketplace. We stopped shipping in the marketplace. We expect this quarter to be about the same.”

“We expect demand will continue to be stronger than our supply provides and -- through the year and we'll do our best.”

“As AV algorithms move to video transformers and more cars are equipped with cameras, we expect NVIDIA's automotive data center processing demand to grow significantly.”

“GAAP and non-GAAP tax rates are expected to be 17%, plus or minus 1% excluding any discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be an income of approximately $250 million, excluding gains and losses from non-affiliated investments.”

“GAAP and non-GAAP operating expenses are expected to be approximately $3.5 billion and $2.5 billion respectively.”

“Grace and Grace Hopper are in full production and ramping into a new multi-billion dollar product line next year.”

“Our networking business is already on a $10 billion plus run rate and it's going to get much larger.”

“We're expecting next year just with all of the design wins that we have in high performance computing and AI infrastructures, we are on a very, very fast ramp with our first data center CPU to a multi-billion dollar product line.”

“Absolutely believe the Data Center can grow through 2025.”

“We are expanding our supply quite significantly.”

“We are still working on improving our supply on plan, on continuing growing all throughout next year as well towards that.”

“GAAP and non-GAAP tax rates are expected to be 15%, plus or minus 1% excluding any discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be an income of approximately $200 million, excluding gains and losses from non-affiliated investments.”

“GAAP and non-GAAP operating expenses are expected to be approximately $3.17 billion and $2.2 billion, respectively.”

“Gaming will likely decline sequentially as it is now more aligned with notebook seasonality.”

“Amazon Web Services, Google Cloud, Microsoft Azure and Oracle Cloud will be among the first CSPs to offer H200-based instances starting next year.”

“We have significantly increased supply every quarter this year to meet strong demand and expect to continue to do so next year.”

“Supply will substantially increase for the rest of this year and next year.”

“Demand for our Data Center platform where AI is tremendous and broad-based across industries on customers. Our demand visibility extends into next year.”

“So we're off to a great start, and I do believe we'll see this continue to grow going forward.”

“Yes, we do expect to continue increasing ramping our supply over the next quarters as well as into next fiscal year.”

“Our supply over the next several quarters will continue to ramp as we lower cycle times and work with our supply partners to add capacity.”

“GAAP and non-GAAP tax rates are expected to be 14.5%, plus or minus 1%, excluding any discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be an income of approximately $100 million, excluding gains and losses from non-affiliated investments.”

“GAAP and non-GAAP operating expenses are expected to be approximately $2.95 billion and $2 billion, respectively.”

“This is likely to shift the reality of our overall gaming revenue a bit, with Q2 and Q3 as the stronger quarters of the year, reflecting the back-to-school and holiday build schedules for laptops.”

“DGX GH200 systems are expected to be available by the end of the year, Google Cloud, Meta and Microsoft among the first to gain access.”

“The second generation version of our Grace Hopper Superchip with the latest HBM3e memory will be available in Q2 of calendar 2024.”

“We do not anticipate that additional export restrictions on our Data Center GPUs, if adopted, would have an immediate material impact to our financial results.”

“We expect supply to increase each quarter through next year.”

“We are ramping a wave of products in the coming quarters, including H100, our Grace and Grace Hopper super chips and our BlueField-3 and Spectrum 4 networking platform.”

“We are significantly increasing our supply to meet the surging demand.”

“Yes, we do plan a substantial increase in the second half compared to the first half.”

“Our new design win will extend BYD's use of the DRIVE Orin to its next-generation high-volume Dynasty, and Ocean series of vehicles, set to start production in calendar 2024.”

“NVIDIA Omniverse Cloud will be available starting in the second half of this year.”

“We believe that the supply that we will have for the second half of the year will be substantially larger than H1.”

“We now expect to increase investments in the business while also delivering operating leverage.”

“We expect this dynamic to linger for the rest of the calendar year.”

“Capital expenditures are expected to be approximately $300 million to $350 million.”

“GAAP and non-GAAP tax rates are expected to be 14%, plus or minus 1%, excluding any discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be an income of approximately $90 million, excluding gains and losses from non-affiliated investments.”

“GAAP and non-GAAP operating expenses are expected to be approximately $2.71 billion and $1.9 billion, respectively.”

“This demand has extended our data center visibility out a few quarters and we have procured substantially higher supply for the second half of the year.”

“We expect this sequential growth to largely be driven by data center, reflecting a steep increase in demand related to generative AI and large language models.”

“Total revenue is expected to be $11 billion, plus or minus 2%.”

“I think those numbers are really good anchor still. The difference is because of the, if you will, incredible capabilities and versatility of generative AI and all of the converging breakthroughs that happened towards the middle and the end of last year, we're probably going to arrive at that TAM sooner than later.”

“As we work to meet the strong demand for our GPUs, we look forward to accelerating growth through the year.”

“Additionally, generative AI, it's sparked interest definitely among our customers, whether those be CSPs, whether those be enterprises, one of those be start-ups. We expect that to be a part of our revenue growth this year.”

“And then we have grades coming likely in the second half of the year.”

“The opportunity is significant and driving strong growth in the data center that will accelerate through the year.”

“Capital expenditures are expected to be approximately $350 million to $400 million for the first quarter and in the range of $1.1 billion to $1.3 billion for the full fiscal year 2024.”

“GAAP and non-GAAP tax rates are expected to be 13%, plus or minus 1%, excluding any discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be an income of approximately $50 million, excluding gains and losses of nonaffiliated divestments.”

“Non-GAAP operating expenses are expected to be approximately $1.78 billion.”

“GAAP operating expenses are expected to be approximately $2.53 billion.”

“We plan to keep them relatively flat at this level over the coming quarters.”

“We -- Grace, I think I've said before that we will have production samples in Q1, and we're still on track to do that.”

“We are quickly adapting to the macro environment. Correcting inventory levels, offering alternative products to data center customers in China and keeping our opex flat for the next few quarters.”

“So up until now and when we do the focal, we'll see about the same size with a few additions for the reduced level of employee hiring that we have right now.”

“Networking was one of our issues probably a year ago, and it has taken us probably to this quarter. and next quarter to really see our supply improved so that we can support the pipeline that we have for our customers”

“We don't expect to see blockchain being an important part of our business down the road.”

“And so, we are expecting to ship some volume, we're expecting to ship production in Q4, and then we're expecting to ship large volumes in Q1.”

“But again, we are planning for all three of those different market platforms to grow just a little bit.”

“Capital expenditures are expected to be approximately $500 million to $550 million.”

“GAAP and non-GAAP tax rates are expected to be 9%, plus or minus 1%, excluding any discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be an income of approximately $40 million, excluding gains and losses on nonaffiliated investments.”

“Non-GAAP operating expenses are expected to be approximately $1.78 billion.”

“GAAP operating expenses are expected to be approximately $2.56 billion.”

“And in automotive, we expect the continued ramp of our Oren design wins.”

“Sequentially, both GAAP and non-GAAP operating expense growth was in the single-digit percent, and we plan to keep it relatively flat at these levels over the coming quarters.”

“These dynamics are expected to continue in Q4.”

“We believe Channel inventories are on track to approach normal levels as we exit Q4.”

“Even with the current macroeconomic headwinds, demand for our data center products have never been stronger.”

“We’ll get through this over the next few months and go into next year with our new architecture.”

“Automotive, very similar to our thoughts at the very beginning of the quarter, we are expecting continued growth through each of the quarters of this fiscal year.”

“We expect to ship substantial Hoppers in Q4.”

“We believe that by the end of the year, we’ll be in a good shape going into next year.”

“Capital expenditures are expected to be approximately $550 million to $600 million.”

“GAAP and non-GAAP tax rates are expected to be 9.5%, plus or minus 1%, excluding any discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be an expense of approximately $10 million, excluding gains and losses on nonaffiliated investments.”

“Non-GAAP operating expenses are expected to be approximately $1.82 billion.”

“GAAP operating expenses are expected to be approximately $2.59 billion.”

“Looking forward, we expect our $11 billion automotive design win pipeline to translate to continued growth.”

“So we’ll continue to grow into Q3 and hopefully Q4 going forward.”

“We had a record Data Center business this last quarter. We expect to have a record, another record quarter this quarter, and we're fairly enthusiastic about the second half.”

“We are still on track to grow our non-GAAP operating expenses in the high 20s range this year.”

“Building on the H100 product side, we are on track to launch our first ever Data Center CPU, Grace, in the first half of 2023.”

“And so we expect to see Data Center demand remain strong.”

“As we discussed about it, most of the ramp that we have of our new architectures, we're going to see in the back half of the year. We're going to start to see, for example, Hopper will probably be here in Q3, but starting to ramp closer to the end of the calendar year.”

“We're expecting it to increase in Q2 and increase in Q3 and Q4.”

“And capital expenditures are expected to be approximately $400 million to $450 million.”

“GAAP and non-GAAP tax rates are expected to be 12.5% plus or minus 1%, excluding discrete items.”

“GAAP and non-GAAP other income and expenses are expected to be an expense of approximately $40 million, excluding gains and losses on non-affiliated investments.”

“Non-GAAP operating expenses are expected to be $1.75 billion.”

“GAAP operating expenses are expected to be $2.46 billion.”

“As well as the new DGX H100 AI supercomputing system will ramp in volume late in the calendar year.”

“Our networking products are still supply constrained though we expect continued improvement throughout the rest of the year.”

“We expect a diminishing contribution going forward.”

“Going forward, as new products ramp and software becomes a larger percent of revenue, we have opportunities to increase gross margins longer term.”

“This year, we expect a transition in PCIe Gen 4 to Gen 5.”

“So it would be sensible that we have the opportunity as we expand our supply base to continue to grow faster than CSPs overall.”

“With respect to networking growth, we should be growing. If we weren't supply constrained, we should be growing faster than overall CSP growth.”

“And this quarter, this coming quarter, the Q1 -- the April quarter is, based on guidance that Colette just made, is consistent with an increasing supply base. We expect to still be demand constrained, but our supply base is going to increase this quarter, this next quarter and pretty substantially in the second half.”

“We expect supply to improve each and every quarter going forward.”

“We do expect to improve supply each quarter as we enter into fiscal year '23 here.”

“Capital expenditures are expected to be approximately $350 million to $400 million.”

“Non-GAAP tax rate are expected to be 11% and 13%, plus or minus 1%, excluding discrete items.”

“GAAP and non-GAAP other operating, other income and expenses are both expected to be an expense of approximately $55 million, excluding gains and losses on nonaffiliated investments.”

“For the fiscal year, we expect to grow non-GAAP operating expenses at a similar percent as in fiscal 2022.”

“GAAP operating expenses are expected to be $3.55 billion, including the Arm write-off of $1.36 billion. Non-GAAP operating expenses are expected to be $1.6 billion.”

“While revenue was gated by supply, we anticipate improving capacity in coming quarters, which should allow us to serve with significant customer demands we're seeing.”

“We have just started shipments of our Orion-based product platform and expect to return to sequential revenue growth in Q1 with more meaningful inflection in the second half of the fiscal year and momentum building into calendar 2023”

“Jetson AGX Orin will be available in the first quarter of calendar 2022.”

“NVIDIA Riva Enterprise will be commercially available early next year, for launch.”

“Our incremental revenue, for example, what we're expecting next quarter will likely align to our current gross margin levels that we finished in terms of Q3.”

“So back to your original question, I think next year is going to be quite a good year for Data Center.”

“We can probably expect our Data Center to grow faster than our Gaming, probably both in terms of percentage wise and in absolute dollars.”

“We expect sequential growth to be driven by Data Center and Gaming, more than offsetting a decline in CMP.”

“Capital expenditures are expected to be approximately $250 million to $275 million.”

“GAAP and non-GAAP tax rates are both expected to be 11%, plus or minus 1% excluding discrete items.”

“GAAP and non-GAAP operating expenses are expected to be approximately $2.02 billion and $1.43 billion, respectively.”

“GAAP and non-GAAP gross margins are expected to be 65.3% and 67%, respectively, plus or minus 50 basis points.”

“We have enough supply to meet our second-half Company growth plans. And next year, we expect to be able to achieve our Company's growth plans for next year.”

“Now excluding CMP, we expect our revenue to grow over 500 million sequentially. A lion's share of that sequential revenue increase will be coming from Data Center.”

“Capital expenditures are expected to be approximately 200 million to 225 million.”

“GAAP and non-GAAP tax rates are supposed to be expected 11%, plus or minus 1% excluding discrete items.”

“GAAP and non-GAAP other income and expenses are both expected to be an expense of approximately 60 million, excluding gains and losses on equity securities.”

“GAAP and non-GAAP operating expenses are expected to be approximately 1.96 billion and 1.37 billion, respectively.”

“GAAP and non-GAAP gross margins are expected to be 65.2% and 67% respectively, plus or minus 50 basis points.”

“Looking further out, we have substantial design winds set to ramp that we expect will drive a major inflection in revenue in the coming years.”

“And from the CMP perspective, we'll probably just have minimal amounts in Q3.”