Nvidia has emerged as the most valuable company globally, fueled by its dominance in AI chip technology. Surpassing industry giants like Microsoft and Apple, Nvidia’s growth story continues to captivate the market. During its Q3 2025 earnings call, the company underscored that its record-breaking AI revenue and profits are just the beginning of what it sees as a prolonged period of success.
Recently, reports from The Information raised concerns about potential cooling issues in Nvidia’s new Blackwell AI servers. However, Nvidia avoided addressing these claims directly. Instead, the company reassured investors that Blackwell is fully operational and in mass production, with plans to steadily increase chip shipments each quarter. CFO Colette Kress revealed that Nvidia has already delivered 13,000 Blackwell samples to customers this quarter. CEO Jensen Huang emphasized Blackwell’s strong performance, noting its contribution to revenues already measured in billions. “As evidenced by the numerous systems being deployed, Blackwell is in excellent shape,” Huang stated.
Traditionally recognized as a leader in graphics and gaming, Nvidia’s core business has dramatically shifted toward AI-driven data centers. While its gaming segment generates a steady $2–$3 billion in revenue each quarter, the company’s data center business dwarfs it. In Q3, Nvidia’s AI-focused data centers brought in $30.7 billion, accounting for the lion’s share of its total $35 billion quarterly revenue.
The profitability of Nvidia’s operations has also been staggering. In Q3 alone, the company reported a $19.3 billion profit, building on $14.8 billion in Q1 and $16.6 billion in Q2. For comparison, Microsoft and Apple reported quarterly profits of $24.7 billion and $21.4 billion, respectively, making Nvidia a formidable competitor even among tech titans.
Although Nvidia’s dominance in AI is unparalleled, rival AMD is also pivoting its strategy to focus on this lucrative sector. While AI currently represents a smaller portion of AMD’s business, the company is aligning its product development cycles with the surging demand for AI chips. Both Nvidia and AMD have expedited their timelines, committing to annual chip releases instead of the previous two-year cadence. This rapid development pace has created overlap between product generations, as businesses quickly adopt new chips to power their data centers.
Despite the debut of Blackwell as Nvidia’s flagship product, the company highlighted the remarkable success of its H200 chip, introduced last year. Nvidia claims the H200 has become its fastest-selling product to date, achieving multi-billion-dollar revenue in Q3 alone. Meanwhile, the H100, Nvidia’s initial breakthrough in AI chips, continues to experience strong demand. Huang projected that the H-series chips will remain a significant driver of revenue well into the next year.
While Nvidia and AMD are racing to meet the soaring demand for AI chips, Intel lags behind. The company is in the midst of restructuring efforts as it struggles to carve out a substantial presence in the AI market.
Nvidia’s ability to transform itself from a gaming-centric company to the cornerstone of AI infrastructure has solidified its market position. With consistent innovation and strategic foresight, Nvidia appears poised to maintain its leadership in the AI revolution.