On the 22nd, Nvidia released its financial report for the first fiscal quarter of fiscal year 2025 as of April 28, achieving revenue of US$26.044 billion, a year-on-year increase of 262%, much higher than market expectations of US$24.7 billion; net profit was US$14.881 billion, a year-on-year increase 628%, higher than the expected $12.9 billion.
By business unit, Nvidia's data center business revenue in the first fiscal quarter was US$22.6 billion, setting a new record in the company's history, a significant increase of 427% compared with the same period last year, and an increase of 23% compared with the previous fiscal quarter; Game and AIPC business revenue was US$2.6 billion, an increase of 18% compared with the same period last year, but a decrease of 8% compared with the previous fiscal quarter; professional visualization business revenue was US$427 million, an increase compared with the same period last year 45%, but a decrease of 8% compared with the previous fiscal quarter; automotive business revenue was US$329 million, an increase of 11% compared with the same period last year, and an increase of 17% compared with the previous fiscal quarter.
NVIDIA CFO Colette Kress attributed the record performance of the data center business to the shipment of "Hopper" architecture graphics processors, including the popular H100 chip. NVIDIA CEO Jensen Huang said in the earnings call that Blackwell is expected to bring in a lot of revenue this year. Blackwell expects to ship in the second fiscal quarter (May-July) and expand production in Q3. Customers will be able to install these latest chips in data centers before the end of Q4. He also mentioned that Nvidia launches products once a year. This implies that Nvidia will release the latest chips or platforms every year.
According to reports, the new chip Blackwell announced in March this year has been put into full production. Although the supply situation of GH100 has improved, the supply of GH200 is still in short supply. Demand for GH200 and Blackwell chips far exceeds supply, and this situation is likely to continue into next year. Regarding the development trend of AI technology, Jensen Huang also said: "The next industrial revolution has begun, and companies and countries are working with NVIDIA to transform traditional data centers worth trillions of dollars into accelerated computing and build a new type of data center "AI factory" to produce AI as a new commodity. AI will bring significant productivity improvements to nearly every industry, helping companies expand revenue opportunities while improving cost and energy efficiency. We are at the beginning of the next wave of growth."
It is worth mentioning that Nvidia also mentioned in the earnings call that the company has supplied unregulated AI products to China, but it expects data center revenue from China to have dropped significantly compared with before the implementation of export controls. At the same time, the company expects that the Chinese market will remain very competitive in the future.
Looking forward to the next quarter, Nvidia gave optimistic guidance, predicting that sales in the second fiscal quarter will reach US$28 billion, plus or minus 2%, higher than market expectations of US$26.6 billion.
