Nvidia has another record quarter amid record capex spends

Core Insights - Nvidia reported record profits with $68 billion in revenue for the most recent quarter, a 73% increase from the previous year, driven primarily by its data center business [1][2] - The data center revenue was broken down into $51 billion from compute revenue (mainly GPUs) and $11 billion from networking products [2] - The company has not reported any revenue from chip exports to China, despite the U.S. lifting export restrictions, indicating uncertainty in the market [3] Company Developments - Nvidia is pursuing a partnership with OpenAI, with a reported investment of $30 billion, and is also collaborating with other companies like Anthropic and Meta [4][6] - Concerns regarding the sustainability of tech companies' capital expenditure commitments were addressed, with the belief that compute investments will soon yield revenue [7] - The CEO emphasized the critical role of compute in generating revenue, stating that without compute, revenue growth is not feasible [8]