Nvidia generated more revenue in a single quarter than the company that manufactures its chips generated in the whole of last year, a comparison that, financial advisory giant deVere Group CEO Nigel Green says, puts the scale of the result into sharp focus. Nvidia reported quarterly revenue of $96.2 billion, up 106% year on year, with Data Center revenue alone reaching $89 billion, up 117%. To put that pace in context, a 106% increase means Nvidia's revenue has more than doubled in a single year, something almost never seen in a company already generating tens of billions of dollars every quarter.
The Data Center division alone, at $89 billion for the quarter, now generates more in three months than most global corporations generate in an entire year, and it grew even faster than the group as a whole. Taiwan Semiconductor Manufacturing Company (TSMC), the firm that physically produces Nvidia's chips, generated $88.268 billion across the whole of 2024. Nvidia matched that in three months.
Nigel Green comments: "One company produced more revenue in a single quarter than its own chip manufacturer produced in an entire year. People have run out of ordinary language to describe growth like that." He continues: "A growth rate of 106% at this size doesn’t happen by accident, and it rarely happens at all. Doing both at once, at this pace and this scale, is exceptionally rare.” The company also guided to third quarter revenue of $108 billion, ahead of the roughly $104 billion Wall Street had pencilled in, and gave a first ever year ahead forecast pointing to 70% revenue growth through fiscal 2028.
Nigel Green flags the size of that beat too. "A $4 billion beat against consensus, in one quarter’s guidance alone, reflects genuine confidence rather than a rounding difference. Companies that are unsure of their own momentum do not guide that far above what the market already expects.” The deVere CEO argues the scale of that forecast deserves more attention than it is getting.
"Companies this large do not usually hand investors a two-year growth number, because the risk of being wrong is enormous. It signals a company that has seen something extraordinary from customers and decided to say so out loud.” Perhaps the most striking admission in the entire report was about supply rather than demand. Nvidia indicated it could be growing even faster were it not constrained by how much hardware it can physically produce.
This is an extraordinary position for any company to be in, let alone one already this large.” Nigel Green welcomes the market reaction, but questions whether it has gone far enough. Sentiment clearly has not caught up with the substance yet, and that gap is worth watching closely in the weeks ahead.” The broader question for investors appears to be less about one company and more about the AI infrastructure buildout it sits at the centre of. Here we are to serve you with news right now.
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