- Huang said computing workloads that do not depend on AI labs are about a third of Nvidia's business and growing 30% to 40% a year, in a BG2 podcast episode posted Oct. 15.
- Nvidia's filing shows Hyperscale data center revenue of $48.7B in the quarter ended July 26, while revenue from AI cloud providers, industrial companies and enterprises rose 138% to $40.3B.
- Nvidia closed at $214.13 on Oct. 16, 10.5% below its 2026 closing high of $239.24 set Oct. 6.
- Nvidia carries $108.5B in guarantee obligations and has invested nearly $50B in frontier AI labs, which management expects to drive roughly a quarter of next year's business.
- The consensus target of $328.72 implies 53.5% upside across 62 analysts, with 10 Strong Buy and 49 Buy ratings.
Quotes
“Call it a third of our business”
“In the absence of any AI labs, Nvidia is not zero”
“some will call this circular financing.”
“Investors are paying post-crash multiples for a cycle that hasn't crashed”