爆单，黄仁勋：卖光了

Core Viewpoint - Nvidia is seen as a bellwether for the AI industry, with its performance reflecting the true demand and prosperity of the sector. The company reported better-than-expected Q3 FY26 earnings, indicating strong growth in AI-related revenues [1]. Financial Performance - Nvidia's Q3 FY26 revenue reached $57.006 billion, exceeding market expectations of $54.92 billion, and representing a 62% year-over-year increase [2][4]. - Net income for the quarter was $31.910 billion, a 65% increase compared to the previous year, with adjusted earnings per share at $1.30, surpassing the forecast of $1.25 [1][2]. - The gross margin was reported at 73.4% under GAAP and 73.6% under non-GAAP, showing slight declines from the previous year [3]. Business Segments - The data center business, Nvidia's core growth engine, generated $51.2 billion in revenue, significantly above the analyst forecast of $49.09 billion, marking a 66% year-over-year increase [4]. - Within the data center revenue, the "compute business" (GPUs) contributed $43 billion, while the networking business added $8.2 billion [5]. - Other business segments also showed growth, with gaming revenue at $4.3 billion (up 30% year-over-year), professional visualization revenue at $760 million (up 56%), and automotive and robotics revenue at $592 million (up 32%) [6][7]. Future Outlook - Nvidia expects Q4 revenue to be approximately $65 billion, exceeding analyst expectations of $61.66 billion, indicating continued strong demand [8]. - The company repurchased $12.5 billion in stock and paid $243 million in dividends during the quarter, reflecting confidence in its financial position [9]. Market Position and Strategy - Nvidia's CEO Jensen Huang emphasized the ongoing demand for AI infrastructure, stating that cloud GPUs are sold out and highlighting the company's partnerships with major tech firms like OpenAI, Google Cloud, and Microsoft [6][10]. - Huang also noted that the AI ecosystem is rapidly expanding, with more foundational model builders and startups emerging across various industries [10]. - Nvidia is actively investing in AI companies to support ecosystem growth, with a focus on maintaining a flexible supply chain and robust balance sheet [11]. Stock Performance - Following the earnings report, Nvidia's stock rose by 2.85% to $186.52 per share, with a market capitalization of $4.53 trillion, maintaining its position as the highest-valued company globally [11].