NVIDIA Corporation
NVIDIA Corporation operates as a data center scale AI infrastructure company in the United States, Taiwan, China, Hong Kong, Europe, and internationally. It operates through Compute & Networking, and Graphics segments. The Compute & Networking segment provides data center accelerated computing and networking platforms and artificial intelligence solutions and software, and automotive platforms and autonomous and electric vehicle solutions, including software. The Graphics segment offers GeForce GPUs for gaming and PCs; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics. The company's products are used in gaming, professional visualization, data center, and automotive markets. It sells its products to original equipment manufacturers, original device manufacturers, system integrators and distributors, independent software vendors, cloud service providers, add-in board manufacturers, distributors, automotive manufacturers and tier-1 automotive suppliers, and other ecosystem participants. It has a collaboration with Cisco to develop Ultra-Dense Small Form Factor Pluggable (USFP), a high-density optical module pluggable transceiver. It has a collaboration with ChipAgents to develop Build-A-Chip-Bench, a benchmark for AI agents carrying chip design tasks and The Company has a strategic alliance with MediaTek to build the next generations of AI computing platforms. NVIDIA Corporation was incorporated in 1993 and is headquartered in Santa Clara, California.
What does it do?
NVIDIA makes the chips that power artificial intelligence. Think of their GPUs (graphics processing units) as the engines inside the computers that train ChatGPT, run Netflix recommendations, and help self-driving cars see the road. Originally built for video game graphics, NVIDIA pivoted hard into AI and now supplies the hardware that nearly every major tech company depends on to build AI products. If AI is the electricity of the next decade, NVIDIA is selling the power plants.
NVIDIA sits at the chokepoint of the entire AI boom — you essentially cannot build large-scale AI without their chips, which gives them rare pricing power in a market growing at an extraordinary rate. Their revenue grew from $130.5B to $215.9B in a single year, a pace almost unheard of for a company this size. Investors care because whoever controls AI infrastructure today may control the technology landscape for the next decade.
How does it make money?
NVIDIA makes money primarily by selling its H100 and Blackwell GPU chips to data centers run by companies like Microsoft, Amazon, Google, and Meta — these customers spend billions building out AI infrastructure and NVIDIA is their primary supplier. Their Compute & Networking segment, which covers this data center business, now drives the vast majority of revenue. They also sell to automotive companies building self-driving systems, and still earn money from gaming GPUs sold to consumers, though that segment is now a much smaller slice of the pie. Net income of $120.1B on $215.9B in revenue reflects extraordinary profit margins — meaning they keep more than half of every dollar they earn.
Why do investors care?
The growth story is simple: the world's biggest companies are in a race to build AI, and they are all buying NVIDIA chips to do it. What has to go right is that AI spending stays high, NVIDIA keeps its technological lead with each new chip generation, and no rival — whether AMD, Intel, or custom chips built by Google and Amazon — manages to offer a compelling alternative at scale. The long-term prize is NVIDIA becoming the foundational infrastructure layer for AI the way Intel was for personal computers in the 1990s.
Deep Dive
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