{"id":107790,"date":"2025-08-31T01:27:06","date_gmt":"2025-08-31T01:27:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/107790\/"},"modified":"2025-08-31T01:27:06","modified_gmt":"2025-08-31T01:27:06","slug":"nvidia-says-two-mystery-customers-accounted-for-39-of-q2-revenue","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/107790\/","title":{"rendered":"Nvidia says two mystery customers accounted for 39% of Q2 revenue"},"content":{"rendered":"

Nearly 40% of Nvidia\u2019s second quarter revenue came from just two customers, according to a filing<\/a> with the Securities and Exchange Commission.<\/p>\n

On Wednesday, the chipmaker reported record revenue<\/a> of $46.7 billion during the quarter that ended on July 27 \u2014 a 56% year-over-year increase largely driven by the AI data center boom. However, subsequent reporting highlighted how much of that growth seems to be coming from just a handful of customers.<\/p>\n

Specifically, Nvidia said that a single customer represented 23% of total Q2 revenue, while sales to another customer represented 16% of Q2 revenue. The filing does not identify either of these customers, only referring to them as \u201cCustomer A\u201d and \u201cCustomer B.\u201d<\/p>\n

During the first half of the fiscal year, Nvidia says Customer A and Customer B accounted for 20% and 15% of total revenue, respectively. Four other customers accounted for 14%, 11%, another 11%, and 10% of Q2 revenue, the company says.<\/p>\n

In its filing, the company says these are all \u201cdirect\u201d customers \u2014 such as original equipment manufacturers (OEMs), system integrators, or distributors \u2014 who purchase their chips directly from Nvidia. Indirect customers, such as cloud service providers and consumer internet companies, purchase Nvidia chips from these direct customers.<\/p>\n

In other words, it sounds unlikely that a big cloud provider like Microsoft, Oracle, Amazon, or Google might secretly be Customer A or Customer B \u2014 though those companies may be indirectly responsible for that massive spending. <\/p>\n

In fact, Nvidia\u2019s Chief Financial Officer Nicole Kress said that \u201clarge cloud service providers\u201d accounted for 50% of Nvidia\u2019s data center revenue<\/a>, which in turn represented 88% of the company\u2019s total revenue, according to CNBC.<\/p>\n

Techcrunch event<\/p>\n

\n\t\t\t\t\t\t\t\t\tSan Francisco
\n\t\t\t\t\t\t\t\t\t\t\t\t\t|
\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 27-29, 2025\n\t\t\t\t\t\t\t<\/p>\n

What does this mean for Nvidia\u2019s future prospects? Gimme Credit analyst Dave Novosel told Fortune<\/a> that while \u201cconcentration of revenue among such a small group of customers does present a significant risk,\u201d the good news is that \u201cthese customers have bountiful cash on hand, generate massive amounts of free cash flow, and are expected to spend lavishly on data centers over the next couple of years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Nearly 40% of Nvidia\u2019s second quarter revenue came from just two customers, according to a filing with the…\n","protected":false},"author":2,"featured_media":107791,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[256,254,255,64,63,2291,105],"class_list":{"0":"post-107790","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-au","12":"tag-australia","13":"tag-nvidia","14":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/107790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=107790"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/107790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/107791"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=107790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=107790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=107790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}