NVIDIA

An in-depth analysis of NVIDIA. (Updated May 2025)

Key Takeaways

  • Explosive AI-Driven Growth: NVIDIA's FY2025 revenue more than doubled to $130.5 billion (+114% YoY), with net income hitting $72.9 billion (56% net margin), driven by unprecedented demand for its data center AI GPUs (H100, Blackwell).
  • AI & Data Center Dominance: The Data Center segment is now ~88% of revenue ($115.2B in FY2025), with over half of Q4 sales to cloud hyperscalers. NVIDIA's CUDA platform maintains a strong moat in AI.
  • Robust Financial Health: Market cap around $2.76 - $2.80 trillion (May 2025). FY2025 saw a $43B cash position against ~$10B debt, $64B operating cash flow, ~62% operating margin, and ~75% gross margin.

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  • Diversified Platform, Gaming Steady: While AI is the primary driver, Gaming remains significant ($11.35B FY2025, +9% YoY) with new GeForce RTX 50-series GPUs launched. Professional Visualization and Automotive segments are smaller but show strong growth.
  • Visionary Leadership & R&D: Founder CEO Jensen Huang leads with a vision to "solve problems that ordinary computers cannot." Heavy R&D investment (>$13.5B in FY2025, approx 10% of revenue) fuels innovation.

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