Nvidia’s GPU Factory Hums 75% Higher Despite Donnie Tariffhands Guarding the China Gate

Nvidia investors checking their brokerage accounts today like: “Wait… I thought we were supposed to be in the AI bubble hangover phase?”

Instead, the leather snakeskin jacketed GPU king rolled up to earnings and dropped a $215.9 BILLION annual revenue mic.

Despite months of “AI is overbuilt,” “capex is peaking,” and “circular financing boogeyman” chatter… Nvidia posted record revenue and beat across the board. Q4 revenue jumped 73% year over year to $68.1B. Adjusted EPS came in at $1.62 vs. $1.53 expected. And most importantly, net income nearly doubled to $43B.

Data center revenue (the AI money printer) also climbed 75% to $62.3B. I did the math and it now makes up 91% of total sales. Meaning: gaming is just a cute side hustle at this point.

Jensen didn’t waste his moment in the spotlight. He grabbed the air pump and jammed it straight into the global AI market’s tires. “Computing demand is growing exponentially,” he said. Translation: hyperscalers are still taking loans out on everything (responsibly, of course) to build AI factories.

Alphabet, Amazon, Meta, Microsoft… combined capex could approach $700B this year. And Nvidia is standing in the middle of that spending spree with a velvet rope and a cover charge.

Even networking revenue exploded 263% thanks to NVLink and Spectrum-X deals. When you’re selling both the brain and the nervous system of AI infrastructure… you’re made in the shade drinking GPU-flavored pink lemonade.

Obviously, Wall Street couldn’t just clap and go home. That would be too healthy.

Shares opened down nearly 3% despite the beat. This is the second straight quarter investors stared at record numbers and muttered, “Yeah but what about next decade’s TAM?”

And yes, the White House variable refuses to go away. Donnie Tariffhands says Nvidia can sell H200 chips to China… under certain conditions. But none have shipped yet. And guidance assumes a clean, beautiful $0 from China data centers. Not exactly bullish when one of the world’s biggest AI markets is stuck on airplane mode.

(Source: New York Times)

Meanwhile, Nvidia invested $17.5B into AI startups and infrastructure funds this year… basically planting flags everywhere in the AI ecosystem. Critics whisper about “circle jerk financing” “circular financing.” As usual, Nvidia responds by doubling revenue.

Oh, and they’re not stopping at chips.

At CES, Huang unveiled a self-driving platform, an open-source model called “Alpamayo,” and teased a robotaxi service for next year. Sure, automotive revenue is still small ($604M), but you can see the blueprint. Jensen wants to own the silicon, own the models, and own the damn cars.

And if you thought 75% data center growth was the finish line… not quite. Later this year Nvidia is planning to drop the Vera Rubin system promising 10x performance per watt… which (puts on Einstein wig) means squeezing a whole lot more AI muscle out of the same electrons. When that happens, expect some BIGLY fireworks. Nvidia’s already worth around $4.8 TRILLION, and they’re still pounding the table on the growth curve.

So yeah, Michael Burry can keep typing away on Substack about how this is one of the biggest Ponzi schemes in history…

Meanwhile, Jensen keeps shipping GPUs.

At the time of publishing this article, Stocks.News holds positions in Alphabet, Amazon, Meta, and Microsoft as mentioned in the article.