🚨 LIVE: Nvidia Earnings with Press Conference! !

[Music] what's up everyone it's K with money welcome on board for our live stream for NVIDIA earnings so hopefully you guys can see me and hear he me and uh I'm just going to be doing a quick uh Discord message to let everybody know that we are now live and uh Nvidia earnings are coming out in under an hour so 4:20 p.m. Eastern is when Nvidia is going to be reporting their numbers I'm going to be sending this link to our Discord members to join us live for NVIDIA earnings uh very quickly and then I'll start my screen share in just a minute I did some updates before the earnings here so it's taking a little bit longer but uh but again hope you all are doing great great and are ready for this big day um just going to send this in our Discord everybody I live to cover Nvidia earnings let's do this okay we are live we are ready to go if you guys can see me and hear me just give me a thumbs up I just want to make sure that everything is working well and there are no issues so $28.7 billion is the revenue number for NVIDIA um with an earnings per share expected at 65 cents per share both of these numbers are expected to increase triple digit we're expecting almost 113% increase year-over-year on revenue and over 138% year-over-year increase in earnings per share let's do a quick poll on uh on our chat Nvidia today rocket higher um and then let's just do uh sells off after earnings so we got a poll going on now and we are ready Nvidia on the day down about 1.6% however recovering really well so we are seeing that recovery um you know we went live over here at around 11:15 a.m. eastern we were live for about an hour uh and then we sold off a little bit further and then we have recovered uh a little bit of those losses down about 1.6% but again the earnings are coming out in about an hour so 4:20 p.m. is when the numbers are going to be released so uh you'll notice that nvidia's highly anticipated earnings are nearly here the company is in the S&P 500's top performing stock this year and the report is expected to be released approximately 1:20 p.m. Pacific time 4:20 p.m. Eastern um and Nvidia will host the conference call at 2: p.m. Pacific or 5:00 p.m. Eastern so about 40 minutes later which also I have opened over here so nvidia's second quarter fiscal year 25 Financial results to which we will listen to together for about an hour and see uh you know what Nvidia ends up reporting and of course talking a little bit more about artificial intelligence you know the delays related to Blackwell so on and so forth we got the financial results open over here we'll reload this page at 4:20 p.m. to take a look at the numbers for the company as well and of course we'll take a look at the Market's reaction uh after the close so again hope you all are doing great put your put your predictions into our poll uh share this live stream with everyone uh with other people who can join and uh again take a look at the markets action with us and uh and yeah we are we are ready so we'll take a look at these numbers here in just under under an hour um I think up markets lost last couple of days to Nvidia to cover Nvidia pop in my opinion up or down is the question still 75% positive so 75% is still the probability but again I want to be very clear that that's been historically uh based on the last eight quarters but just because it's happened in the last eight quarters does not mean that it's going to happen um once again right so just give me one more second while I update the thumbnail I just want to put Jensen Wong in there definitely he deserves to be in our thumbnail so just give me one second while I also put his picture on the thumbnail and update um the the image there so one second here and there we go just going to remove that and I'm going to flip his position and perfect there we go got our Jensen hang in the mix I'm going to update that over there and we are all set so boom boom boom just downloading that and we're just going to update this very quickly oh there we go just edit change and we're all set just one second perfect we are good to go Nvidia ear earnings all right everyone so drop a like for Jensen hang not me not yourself but drop a like for our Jensen hang here so this is the new thumbnail that I've added over here you can see got Jensen hang in there uh so drop a like for him I would uh he would really appreciate that so we're we're just about getting ready for the market close uh we did see a little bit of a pullback I mean cuq are still down a little a little bit over 1% so 470 19 195 is where we are with the S&P 500 also down about half a percent with a Tesla down over 1.8 um and Nvidia of course still down over 1.7 with AMD down over 2 and a half% so the entire Magnificent Seven stocks are down almost 1% on the day with semiconductors also down a little bit over 1% at the moment so this definitely has been a little bit of a red day for the entire Market with semiconductors selling off U you know more aggressively however smci did did get bought up it was down at 1. over 26% so there has been buyers stepping in for this company that's why I think selling puts was very very lucrative in and around those levels at 396 at 330 puts were paying you I think closer to like17 $18 last time I checked um and we did have of course puts all the way out to uh to few few weeks to a month out then they were you know even higher at $20 $25 uh per contract so those are very very high uh in terms of those put premiums uh let's go rocket higher up up up good luck to everyone um let's see I've loaded on into Nvidia and have dry powder to pick up more shares if it tanks tomorrow basically tomorrow you mean like later today uh how do you feel about those puts you have on Nvidia still will there be buying to buying buy to close with 100% profit I hope so so again yes we will see uh are you a nephew of Jensen Wong no no I'm not a wish but no um so yes 100% profit I mean that that just simply means that those puts are going to expire out of the money and worthless um but you know so for that to happen I'll have to hold them all the way till expiration till Friday um and the only reason I'll do that is if I'm let's say in the money or um if I am you know kind of the market price is a little bit more um close to the strike price so we're still kind of uncertain whether those puts are going to close in the money or out of the money up until Friday is closed uh those those are the only two instances where I would essentially hold until Friday other than that if if by Friday those puts are up anywhere from 80 to 90 to 95% I'll end up buying to close and then I'll you know sell more puts on another stock um for the following week for next week basically and uh we'll send out all those updates and alerts in our Discord and we'll do a patreon video as well so we're ready 15 more minutes 15 more minutes and for everybody joining us these are the expectations um from analysts $28.7 billion and a 65 in earnings per share for uh for NVIDIA and uh do me a favor also have other people join this live stream so share this you can simply come over here so on our uh live stream there's this option for sharing it so what I'll do is I'll post it over here so you can share this link simply copy and paste this link um you know so you can have other people join us other discords WhatsApp groups uh telegram channels um you know Facebook wherever it is you can have more people join us so that we can have a more lively and more engaged discussion uh about nvidia's earnings and also listen to what Jensen hang has to say uh about the future of the company with artificial intelligence so got everything opened up so we got the corporate uh filings Financial reports here for NVIDIA we're going to be taking a look at the second quarter as soon as the numbers come out so we'll reload this page at 4:20 p.m. Eastern got the second quarter earnings uh press release uh registered already so we will um we will listen into that and then also uh again some of the other articles that are super important so for example up 140% 65 cents versus 27 cents year-over-year uh and then Revenue 28.7 billion and current quarter Outlook of 31.7 billion that's the expectation with 71 cents per share in earnings for the company um as well uh and then again the nvidia's Blackwell GPU crushes its current generation there's some delays with regards to nvidia's Blackwell um chips as well so we will be listening in to that as well so Nvidia the primary beneficiary of the ongoing artificial intelligence boom its market value is expanded more than nine times since the end of 2022 nine times investors will be looking for indications that AI demand remains strong while analysts expect Nvidia to post a fourth straight quarter of triple digit Revenue growth and that is actually correct because if you come over to our platform let me just go over and open it up for all of you again this is accessible to everyone if you want to join of course be a part of our money vest Community you can do that uh let's see uh money.com simply come over to dashboard you can log in and you will have access to our entire uh platform so this right here is again our own money.com come over to Nvidia and let's take a look at the fundamentals for the last few Quarters here so we're going to come over to switch this from anal to quarterly let's go over to the last 12 quarters Revenue plot for gross profit um and then we'll also take a look at net income profitability or bottom line which is also exploded for the company and take a look at this I mean just incredible right so net income 6.1 billion in the July quarter um and then same time last year they were at 656 million so that is an increase of 1,000% absolutely insane uh then the October quarter 9.2 billion uh same time last year they were at 680 million so that's another 1200% quarter this right here uh was uh you know we're looking at January quarter in January of last year was about 1.4 billion which they increased to 12.2 billion so that's well over 8 900% increase um and this right here is uh going to be April quarter uh which compared to last April when they did 2 billion that increased to over 14.8 billion so that's 700% increase for the company so we've seen 1,200% 1000% 900% 700% and now it's going to be cing over this quarter right here which of course it's going to be now even more difficult um to to accomplish right so that's those are the numbers so the thing is that same time like next year when we're doing our analysis for NVIDIA it's actually going to be more difficult unless this demand is so crazy it's so wild that they're still able to grow triple digit but it's going to start coming down why because next year they're going to be comping over all of these high figures you see these high numbers here they're going to be comping over such high numbers that same time next year you know they're going to be comping over uh you know the number that we're getting today which is uh a little bit over uh what is it 60 5 cents per share right so depending on the so got the market cap and you got the net net income revenue is $28.7 billion that's what they're going to be comping over next year and but when I say comping over meaning comparables year-over-year that's what they're going to be comparing against and then 112% growth means that they're going to have to increase revenues to $61 billion in one quarter next year can they do that I mean sure anything is possible but how how probable is that so of course the growth has exploded as you can see on the charts here um but it's all going to growth rates are going to start to come down for NVIDIA as time goes on because the numbers are starting to get really really big for this company so um so that's where we are 64% 64% of you guys are expecting Nvidia to be higher uh after earnings today so so yeah there's definitely a very very bullish um sentiment overall among investors and I'm just going to go over some of the comments here it's all about the guidance not earnings which will be great yes so guidance very important so we already covered that the current quarter guidance for sales 31.7 billion so if you take a look at the current quarter which is the quarter ending in October uh last year they did $18.1 billion so if you do the math1 18.1 and the current quarter expectations are 31.7 right so what is that year-over-year if we do this minus this divided by that we're looking at a growth rate of uh once again a little bit over 75 uh is that right just want to make sure yep so this minus this 75% I was going to say like that doesn't seem right 75% uh is going to be that year-over-year growth um expected for NVIDIA that's what analysts are uh expecting right so we're going to actually put this number somewhere over here as well so what we'll do is we will create something similar and we will do that and we're going to put 18.1 billion this is current quarter Revenue um no last year's Revenue right so we're just going to put Revenue here so this is already reported and this is guidance guidance and Wall Street is expecting 31.7 so that is 75% expected from the company um and then earnings per share 71 cents per share so that's what Wall Street is pricing in for and last year we essentially got earnings per share let me see let me just plug that in diluted earnings per share it's going to be right there we had for the October let me just remove all of that we had uh 73 cents per share for the company also so that's going to be that number just got to make sure yeah that might be a little bit of an adjustment on Gap versus non Gap but 71 cents per share is what Wall Street is expecting from Nvidia let me just come over here and take a quick look quarterly bases uh let's come over to statements income statement bottom line got diluted earnings per share yeah so this is the quarter ending over here which was around three cents per share for the company 3 to six 3 to six cents because of the split adjustment as well so we'll leave it blank we we'll see what the earnings per share guidance ends up being 75 cents per share is what Wall Street is pricing in for um so so that's where we are guidance is very very important fully agree and that's really what's going to dictate where the price goes after um after the numbers come out okay uh if something happens I will buy everything uh someone has to yep so I don't know what that is so is today's market sell off led by anticipation of Nvidia earnings well it's possible like I said in my earlier live stream that you know Nvidia earnings tend to be a little bit more of a binary event because of the volatility that the earning basically carry over to the market so a lot of investors may not want to hold through uh Nvidia earnings and they might might just want to get out um mostly Traders they they may want to exit some positions um in order to prepare for what happens after so plus minus 10% volatility incoming now so we got eight more minutes eight more minutes everyone I hope you all are ready David says how do you have so much energy this late the coffee must be good in tii man I actually exhausted so this is not energy out of energy this is energy out of sleep deprivation because I didn't actually get a lot of sleep last night I slept at 3:00 in the morning I was uh working late and then I woke up at like 8:00 so that's like 5 hours um then of course immediately went to get some coffee uh spend the entire day mostly working and then tomorrow I'm leaving a little bit early so I'm leaving at like 8:00 a.m. to to kcki the the mountain peak that I mentioned earlier it's literally like bard in Russia so it's a 3-hour ride so I plan to sleep in the car um as as I'm as I'm traveling over up north um so yes my plan is to uh cover the the you know report cover the press conference do the update um then of course go to bed and then wake up in four or five hours and then make my trip over to over to that place but no it is okay it is fine because I enjoy what I do I absolutely love uh what I do and you know obviously um you guys are important Nvidia is important and my trade is important so yes I am pumped for my trade as well we'll see what ends up happening um so yeah that's where we are make sure that you drop a like everyone 531 people joined in that is incredible let's see if we can get up to at least over 700 um because 700 is going to be pretty cool seven being one of my lucky numbers um let's see if we can get up to that level but yes we've got about 6 minutes 6 minutes for the markets to close um all eyes and years are going to be on Nvidia so what I'm going to do is I'm going to put Nvidia on this chart so you can see the F minute chart here for envidia stock remember the all-time high sits well over $140 this has been the recovery so you see that shaded part in blue is pre-market in slightly Brown it's um actually this is after hours this is pre-market this is actual trading hours the markets open and as soon as the Market's closed it's going to turn into this bluish shade again which is going to be the after hours once again and then we'll put qq's over here um to better understand how the NASDAQ is reacting to Nvidia earnings again they don't come out until 420 PM so there may be some volatility after the Market's close but it's not really going to uh represent anything because um because again there might be some Al alos trading um Nvidia can I do a 24-hour stream 24-hour stream would be crazy man you guys will see me eat drink a lot of other stuff so I don't know if I should I should do that um okay let's see let's go do you get jet lag so well TI Georgia is in the same time zone as Dubai so we are really it's not me traveling in time right now not at least if I TR I mean I'm traveling up North I'm not going east or west um so there's a slight weather difference but there's no time difference if I'm traveling up north if I do ever go to India of course there's a there's a small time difference India is about an hour and a half ahead uh and of course if I travel West then it's completely different of course but right now I'm up North so it's the same time zone um I've been to TC you should go find um geoc coaching treasure in the mother of Georgia I couldn't find it it's good to know I'll try that check that out um so my positions are basically sold puts that what that's what I've done I've sold puts on Nvidia strikes are 108 and 105 if Nvidia drops down to $108 then those puts will be in the money and I'll get assigned shares on Friday at expiration um at $18 then I can immediately go out and sell calls against those shares uh but if Nvidia rips then those calls are going to be further out of the money uh thereby essentially um generating that profit and of course I'll be able to keep that entire premium 3 minutes three minutes left everyone hope you all are ready it's going to be quite interesting again for those of you who are joining us we got over 613 people watching Revenue last year 13.5 billion this year expected revenue from these earnings 28.7 billion that's 112% growth year-over-year earnings per share same time last year 27 cents per share for the company just double- checking here for the quarter ending in yep so over here 2927 cents right about that number uh 65 cents per share expected right from this quarterly earnings 13% year-over-year growth so these are the numbers that are expected from Nvidia after the Bell these are the yellow ones come over to guidance $ 31.7 billion in Revenue let me just put that over here I'll increase that like that and this is revenue so 31.7 billion that's going to be a year-over-year growth of 75% and earnings per share expectations of 71 cents per share for the company so those are the expected numbers we got two more minutes for the markets to close Nvidia trading at just over $126 right now down about 1.6% as soon as the numbers come out at 4:20 p.m. Eastern we'll reload this page we'll take a look at the numbers read through the report data center Revenue gaming Automotive everything um and of course the Gap and non-gap numbers the balance sheet all that good stuff and then we'll listen in to the call at 5:00 p.m. Eastern 2 p.m. Pacific when this thing um comes in so we'll listen to what Jensen W has to say so everything is ready and hopefully we have no other problems and we are ready to go excited I am very excited about Nvidia earnings here so in how many minutes is the report so 4:20 p.m. Eastern so in about 21 minutes roughly because right now it's 359 so Market's closing about a minute here we're trading at 126 so 4:20 p.m. is when the reports will be released uh Nvidia already starting to roll over just a little bit on the last 5 minute candle starting to pull back if you come over to the one minute candle seeing a little bit of a pullback I think 1 minute candles are fine right now after the Market's closed because there may be some Algos that are firing off but again the report doesn't come out until 420 so we'll continue to reload that page for for NVIDIA all eyes on Nvidia here oh starting to sell off in the final minute down almost 2% back to the 5 minute candles here so there's a little bit of a pullback Down about 2% and Market's going to close in three two 1 and that's 400m Bell going off we are now closed so you can see the Shaded blue comes in that's the after hours and right now after hours down about half a percent of the moment again we we'll take a look at the reports at 420 uh just for just for the sake of doing this we'll just reload this page yep so as soon as this comes out we will take a look Nvidia is mostly flat right now so there's not going to be a lot of movement at the moment at least for the not not for the next 20 minutes or so how many people do we have watching in right now so we got over 700 almost 800 people watching that's incredible good luck to everyone I I really want to know how many people actually have Nvidia um at the moment so we got 66% we're going to end this poll 400 votes but I really want to know how many people that are watching 837 have Nvidia stock or options or in some shape or form they have a vested interest in what's about to happen in 20 minutes so um let us do a quick poll and we'll just do a yes no poll Nvidia are you holding holding any Nvidia stock options or any uh trades let's do that there we go we got Triple Eight Triple 8 888 number of people that are watching right now and again Nvidia is very flat so it's again the numbers are going to come out in about 19 minutes now we are literally flat two basis points uh slightly up but this poll is actually going to be quite interesting because because it's going to give give us a little bit of a sense of uh wow it's 78% of you guys I'm also in the yes Camp by the way as you already know but wow fragrance says my biggest position so vested in Bea largest position 266 shares Michelle says wow that's incredible that is insane you guys are you guys are about to get one of the biggest reports if not the biggest report not just for the market but for a lot of people's portfolios as well so yeah very flat right now no movement at the moment still waiting s soxl by the way let's see if there's any other companies that are also reporting at the same time so if you come over to earnings calendar uh CRM so Salesforce crowd strike these are also companies reporting so we can also kind of go into you know their stocks and how they're doing crowd strike is also flat again a lot of these companies um will end up reporting towards in the next few minutes here so I'm still going to put Nvidia at the very top on the top right we've got Nvidia over here and then I'll put CRM at the bottom right looks like there's a big pop 3.4% higher right now 268 um and then we'll put crowd strike over here uh on the bottom left and let's see if there's any other companies that we can also plug in HP Viva systems uh OCTA so let's just put Viva systems or let's just put the market I think QQ is going to be fine um over there so basically flat After Hours the only big after hours move that we're seeing so far is Salesforce up a little bit over 2% um other than that crowd strike and Nvidia very calm at the moment very flat as of right now so everyone we got over a thousand people watching now so again thank you so much for joining I really appreciate that make sure to you drop a like subscribe to the channel if you haven't already I would really appreciate that helps out the channel in a tremendous way um and let us know what your expectations are for earnings that are coming out for NVIDIA in 17 minutes now this is what the Market's pricing in $28.7 billion of Revenue uh with 65 cents in earnings per share guidance at 31.7 billion with 71 cents in earnings per share growth triple digit 112% 130% respectively and then we're also looking at Revenue guidance of 75% increase your year for the company as well so very very flat numbers at the moment Twitter is literally trending with only Nvidia how many tweets do we have on Nvidia 39,000 tweets on Nvidia at the moment with the ticker nvda that's all anybody's talking about right now this is actually crazy how one stock can get so popular so popular it's insane because it's actually gone up so fast 75% of folks here actually have some type of position stock or options or other trades on Nvidia 75% 750 people right now that are watching this stream have uh have some type of vested interest o Crow strike just made a big move down about 4.7% so definitely with a big red candle coming in you can see over here selling off quite aggressively here crowd strike holding sees fiscally adjusted EPS 361 that's been downgraded from adjusted EPS 36 no 361 to 365 is what they're expecting now uh sees third quarter revenue of $979 to $984 million CRM uh expecting its Q3 EPS range between 242 to 244 an expecting fiscal year 2025 UPS range of $103 to 1011 so you know at 264 and $10 we're trading at just over 26 times earnings which is actually not bad multiple four um for Salesforce a little bit of reversal on crowd strike here up 3.4% now almost 4% higher quite a nice staggering reversal uh 250 to back up to over wow that's a 9% swing in just a matter of a couple minutes here for crowd strike 4% higher now Nvidia is still very very calm very calm qq's are slightly lower um at the moment and again we'll come over here reload this page another 14 minutes left for these numbers to come out yep crowd strikes higher sales force is higher 13 minutes until Nvidia profit margins have just gotten insane right for NVIDIA as we discussed in our previous live stream staggering margins I mean we've gone from like 40 to 55 50 to 55 to now 58% margins so 73% now uh of people that are now in some shape or form trading or investing in Nvidia through options or shares that's still a pretty big number three qus of investors here so crowd strike Cuts annual revenue forecast and the stock price is still higher guiding for about 80 to 81 cents per share in earnings per share um and then we also have the full entire year earnings expectations for 2025 at 361 365 so if you do the math here crowd strike after hours is trading at around 272 divided by 365 we're looking at an earnings multiple of 74 that is still a really high multiple for crowd strike but at the same time they're also increasing that number of earnings per share so for example last year they did diluted earnings per share EPS of 17 cents so growing from 17 to well over $2.65 is a pretty massive increase just want to make sure that that was actually quarterly so coming over to annual number still 37 cents right 37 cents and increasing that 37 cents to a dollar $262 is just an insane amount of growth and that's the whole idea of companies turning the corner towards profitability paler did that um you know Sofi is on the process of doing that crowd strike zscaler a lot of companies that turn the corner on profitability have significant potential for growth coming over to the one minute chart you can see incredible volatility here crowd strike and sales for is giving up on all those gains after reporting those numbers guidance now expected 242 244 and $103 to 1011 um Street expectations were 236 that's actually a strong beat of 256 versus 236 for uh for Salesforce yet it is slightly coming down so it's basically flat at the moment right now Blackwell delay is now going to affect these earnings and it's it is said that Nvidia will just sell more h100 h200 in the place of Blackwell this year beginning next year if Nvidia misses or gives po Guidance the whole Market will suffer um I agree I think the markets already is underperforming technology is definitely underperforming right now relative to Value uh as we discussed in one of our other videos like if you take a look at xlk relative to xlu this has been uh the biggest underperformance since going back as far as 2008 um so it definitely has a very big role to play because Nvidia the entire technology sector kind of dependent on Nvidia you know I was I was watch I was looking at one of those memes where there's a lot of people sitting in the back of a truck and you know how there's this door back door that opens up um and you've got Nvidia pretty much you know holding on to that door because everybody's Reliant um on that door being closed and there was another meme where the plates are falling off the the kitchen closet um and that's pretty much Nvidia kind of holding up the entire Market uh as soon as that door opens we got chaos chaos and mess so Nvidia starting to roll over just a little bit 37 cents lower if you come over to this again we'll take a look for 2025 second quarter nothing yet and again the earnings press conference starts at 5:00 p.m. Eastern so we still have a little bit of time left Nvidia is starting to roll over just a little bit 68 basis points lower right now yeah some people are tweeting like if everybody's focused on Nvidia people are missing out on what crowd strike and Salesforce are doing but we have them covered as well be on both of those companies Jesus these motorcycles here in tii man I tell you there's actually no limit to how late they can they can actually go like I've heard them at 2: in the morning at 4 in the morning it doesn't matter okay I feel like Twitter just went down for NVIDIA ticker symbol because now those posts are not even loading up it's not loading up you guys we had we had over um 130,000 posts on Nvidia yep Twitter is not working Twitter's not working is it is it working for anybody else let me see here if I can open it up and we'll just type in Nvidia under trending it should already be trending we'll just do that okay it's working all on the computer wasn't working on my phone anyway so we got about eight more minutes eight more minutes until the report comes out 30 basis points lower is where Nvidia is Salesforce trying to recover just a little bit up over 2.3% right now on the day after hours crowd strike is also up 2% so both of these companies nice 2% gain after hours QQQ is slightly down about 14 basis points Within Nvidia very very flat still 30 basis points lower uh selling off just slightly after the markets have closed uh 2% lower on the day and right now just down about 34 basis points at the moment so here we are here we go we are ready so we'll keep a close eye we'll keep a close eye on what Twitter's also telling us as well yeah so many people in Wall Street pets have placed their livelihoods on Nvidia calls I have no doubt I I have no doubt at all there's a lot of people that are betting on Nvidia simply just buying calls on the expectations that it's actually going to go higher six minutes we are six minutes away six minutes away almost time now yep so almost time so exciting working here working here okay perfect it is working so yeah it was working on the computer it's not working on my phone for some reason um 1,600 people watching everyone I think that might just be the record for the channel so definitely do drop a like And subscribe to the channel here if you haven't already I would really greatly appreciate that helps us grow our community engagement everything helps us recommend this channel to more people um sales for is definitely on the move here 3.7% higher almost 4% higher now um and crowd strike is up almost 3% both those ended up beating expectations um but we did get a little bit of a guidance cut on crowd strike um from from just coming down $979 to $984 million for the third quarter but it's almost time for Nvidia to shine it's almost time five more minutes left wow 1,800 people folks this is a brand new alltime high on a live stream for our channel so we've got over over 1,800 people watching Nvidia earnings so this is going to actually be quite interesting quite crazy let us know what your predictions are and also do participate in the poll we've got 69% how appropriate that is 69% of people have vested interest in Nvidia earnings right now Craig says I'm holding $80,000 in Nvidia but honestly think we're going to take a hit today wouldn't be surprised my friend would not be surprised given the overall sentiment around technology the higher expectations the Blackwell delays there's just a lot on the ride here there's a lot on Deck um for for NVIDIA to really come out and beat expectations there's a lot that they have to do oh a little bit of a move again it's 4:16 right now we're going to come over here here we go here we go just a few more minutes both of them both crowd strike and Salesforce ripped after the earnings pulled back after the earnings and then slowly and steadily made their way back up they literally have an identical chart both of them and they're both almost up the same amount Crouch strike is up 3.2% CRM sales for is up just a little bit over 4% 3 minutes 3 minutes I'm actually going to just push this over here here and uh just going to do that I'll bring this in do that also perfect here we go we're going to reload the page here we're going to open the press release very quickly take a look once the numbers come out and then Nvidia is going to be right over there go over to the one minute chart here we go here we go you've got both earnings coming up right here you got the share price and the reaction on the right couple minutes it's actually crazy how one stock can have such an influence on the entire Market just going to read some interesting tweets here along the way as well Nvidia literally has making the entire world nervous because in a sense that you know Nvidia earnings do affect the market which affects monetary policy to some extent even though the Federal Reserve chairman General Powell says they don't care about where the markets are trading or what the markets are doing in some sense they certainly do um okay here we go starting to move up just a little bit 39 basis points higher again we do still have couple more minutes until the numbers come out into the final minute we go the final minute we go okay slow and steady just watch it just crash down after the numbers come out up 1% right now pre market uh after hours I mean after hours 1% higher into the final minute pushing up just over 1% 1.4 we'll plug those numbers in as soon as they come out 30 seconds folks share like subscribe share with your friends family everybody so that we can have more people join us and the earnings call starts in 40 minutes by the way so while the report is very important the earnings call is also going to be very very important okay I'll start refreshing starting to roll over just a little bit Nvidia 125 149 that's where we are so EPS came in at 67 cents per share for the company uh Revenue came in at just over so 68 cents versus for the company here Revenue came in at just over $30 billion so they actually beat expectations 30.07 and EPS came in at just over 67 cents per share so that is oh sorry 67 cents that's 148% growth on the revenue side and then earning and revenue 122% earnings 148% for the company is what I have right now 68 cents versus expectations of 64 cents for the business and again Revenue coming in over $30 billion for the company as well so that's what we have Nvidia right now just about 16 basis points lower we'll take a look at that report here in just a minute so 30 billion at 75% gross margin absolutely insane I will share this so here we go um so as of August 28th so this is the number for for the quarter ending in again um for the most recent quarter $30 billion is the number this the quarter ending in July uh a 15% quarter over quarter 122% on a year-over-year basis Gap earnings per share coming in at 67 cents um and that's up 12% from the previous quarter up 168% as we already calculated um on a year-over-year basis and non-gaap basis again 152% on a year-over-year basis and we got um 11% on a quarter over quarter basis for the company as well so very very flat reaction right now so far I think it's really going to be dependent on what the company ends up announcing during the here we go so let's just go over to the numbers some of them are loading up some of them are not and then this right here are the numbers so 30 billion 75% margin here for the company operating expenses under 3.4 billion diluted earnings per share on a gap basis 67 cents um that's up 168% year over year and 122% increase on the revenue side of things with margins also expanding five percentage points on a gross basis and operating income is also up 174% for the business as well um and then we' have got data center up to as much as 2 26.3 billion so let me just go over that very quickly we'll take a look at the Market's reaction here so here we are for the other report so that's Outlook expected at 32.5 billion plusus 2% so analysts were expecting 31 billion I think was that number so yes 31.7 billion was that number uh and we came in at 32. uh5 so that is again a very strong guidance we're going to plug that in 32.5 that's almost 80% growth on a year-over-year basis for the business NV right now starting to roll over down 3.6% after hours down to $120 a share starting to see a little bit of a pullback Down almost 4% now which is normal which is normal I think 4 to 5% is still still well within the contained measure uh if the moment it gets up to over 10% that's over a $300 billion selloff which again could be record setting for the company Gap and non-gap gross margins expected to be 74.4 to 75% respectively um and we got Gap and non Gap operating expenses expected approximately 4.3 billion 3 billion respectively and GAP and on Gap other income expenses approximately 350 million and data center was up 16% quarter over quarter and 154% year-over-year to $26.3 billion and nowc a combination of Nvidia h200 tort core Nvidia Blackwell architecture and here hold on one second let me just bring this up as well for all of you now down 7% at the moment 7% higher 7% lower actually 7% lower so $116 a share remember my put strikes are8 just going to check in on all of you as well 2,200 people watching that's crazy and we're starting to see a little bit of a sell-off in QQ as well down almost 1% and we'll see if this recovery happens after Jensen Wong starts talking but we're already 115 down over 8% at the moment 8% 115 so if you take into account the context of things $3 trillion market cap and 8% selloff is already a 240 $240 billion sell off that's already happened in nvidia's stock buying opportunity some may make a case that it is because the numbers so far have been fantastic I mean $30 billion in Revenue $22.5 billion in gross profit both of them increasing by more than 100% 150% in some cases and then if you take a look at net income bottom line 16.5 billion once again more than 100% increase on a year-over-year basis for the business 68 cents per share gud shares outstanding sitting at 24.8 billion so looks like they did buy uh some shares during the uh during the quarter um and then let me just come over to this this was actually one of their best quarters by the way record revenues record profits record everything so again we can come over here to press release now this is going to be coming out of the official channels uh so come down again there it is $30 billion record revenues 75% gross margins um which is slightly lower than the previous uh quarter that we witnessed right and then we got just under $4 billion in operating expenses operating income 18.6 billion up 174% year over year that's is insane growth net income just under 16.6 billion 67 cents per share both are up 168% and these are non-gap numbers up 152% each quarter over quarter everything is up however moderating down and gross margins were actually down quarter over quarter so that's actually probably the only only small thing that I can take note of is quarter over quarter we had gross margins slightly lower 3 percentage points lower um and then it comes to outlooks 32.5 billion which we already discussed 74.4 to 75% gross margins um and then we had for the full year gross margins expected in the mid 70s mid 70% range for the business 26.3 billion again another record in data center Revenue 16% quarter over quarter 154% year-over-year for the business gaming and PC 2.9 billion up 9% quarter over quarter 16% year-over-year and professional visualization just under half um a billion dollars up 6% quarter over quarter 20% year-over-year and 346 million of 5% quarter over quarter and 37% growth year-over-year for automotive revenues as well so we'll listen in to the earnings call very soon but the stock is now starting to recover a little bit um as as investors do see that as a very strong number uh record Revenue record data center Revenue record gross uh gross profit on a dollar term basis not on a margin term basis margins we did see a bit of a decline quarter over quarter and year-over-year but record net income shares outstanding came down let's take a look at their balance sheet and how flushed is this company with cash so coming back over here scroll down a little bit so this is going to be their income statement which we've already covered uh come down to the balance sheet now total current assets at almost 60 $60 billion with cash sitting at $ 34.8 billion their total liabilities are 27 billion so in other words they've got more cash than all of their liabilities right now on the balance sheet $ 34.8 billion is their total cash and cash equivalence marketable Securities um and they also uh have you know long-term debt 8.4 billion so very very lean and very efficient business with only $27 billion of total liabilities um when it comes to free cash flow so we can simply take the operating cash flow minus capx so operating cash flow is $1 14.8 billion which compared to the quarter ending in July last year uh we had 9.2 billion that was actually 6 months ending so July 30th 2023 was 6.3 billion so that is once again over 150% growth on a year-over-year basis for the business that's insane and then of course if you take a look at the property planed equipment purchase related to property plan equipment 977 million you you basically subtract that number so let's just do that 14.4 minus 9.97 7 $ 13.4 billion of free cash flow generated by the business in the most recent quarter which again is more than their long-term debt and U half of their total liabilities for the company so overall uh I would say these were some incredible numbers um from Nvidia so far as what we can see um and again the stock price is a little bit more uncertain still down about three and a half% sold off recovered a little bit but again the earnings call begins in about 30 minutes everyone uh make sure that you drop a like we've got over 2,300 people watching right now 2,300 people uh please do me a favor and drop a like and also let us know where you're joining us from comment down below comment in the chat where exactly are you tuning us from what part of the world we got 1,200 votes with 69% of investors currently trading Nvidia in some shape or form whether it's stocks options or any other trades that they are taking and let us know where 2,300 of you guys are joining us today that's incredible so not only Nvidia hit a record high even we hit a record high with the live viewership right now 2,300 people so you got Slovakia Sweden Switzerland United States Texas uh Denmark London wow we got such a global audience today that's incredible just waiting to listen to what Nvidia has to say um Jensen Wong has to say in the earnings call here but overall numbers very strong I would say uh forecast third quarter Revenue above expectations uh Q2 professional visualization Revenue $ 454 million versus consensus of 446 Auto Revenue 346 versus consensus 350 so that maybe a slight decline slight Miss for the company there um Revenue expected at 32.5 billion that's also very strong beat um I think that that is going a little bit under the radar $32.5 billion for the current quarter 75% growth is still very strong uh and again the data center Revenue coming in at a record 26.3 billion versus analyst consensus of 25.2 billion you know now we get into an get into a little bit of a debate of how much of a beat was it right was it was it a strong beat or was it a low beat and that is a this is an absurd discussion to have because um if a company's been growing at such high growth rates um and it's still beating expectations uh then to make a case for or was it a was it a strong beat was it was it a good enough beat is is in my opinion in very poor argument for the stock price to maybe sell off um you know on just on that because in absolute terms this was just a blowout quarter for the company with very strong guidance also coming in so crowd strike is also up 3.5% CRM sales for is up 3.5% as well and we've got about 18 minutes 18 minutes for um uh for Jensen hang to to come in Jim Warwick love your stuff my guy keep up the great analysis thank you so much really appreciate that um and again the numbers are out we we covered that just a bit ago but overall very very strong numbers you can also take a look at this yourself if you want to um I'll share the link so this right here is the link for nvidia's actual numbers that just came out feel free to check it out if you want to um but the numbers were absolutely in my opinion incredible with record quarterly Revenue 30 billion 122% increase record quarterly data center Revenue up 54% increase earnings per share 67 cents up 168% year-over-year Outlook also beating expectations and uh let's see this is operating expenses other income and taxes but they didn't really have any outlooks on the bottom line profit or net income right and uh yeah I mean overall I would say balance sheet improved debt levels were going slightly up by about very very minimal amount here not even worth the no um and total liabilities increas just a little bit from other long-term liabilities increasing the most from 2.5 billion to 3.3 billion and AC crude and other liabilities increasing from 6.6 to 10.2 billion let's take a look at how other stocks are doing so for example smci after hours it's down another 3.6% back down to 427 let's take a look at Advanced Micro Devices AMD also down 1.27 uh let's take a look at Intel and Intel is down about 30 basis points right now Qualcomm is down about 1% broadcom is down about almost 2% lamb research is down 1.3 asml is down a little bit over 1.4 Texas Instruments is slightly higher lamb research is down about 1.3 so semiconductors all across the board are selling off right now with SMH down 1.6 and S soxl is down 3.6% however we are seeing a little bit little bit of that uh momentum back higher Nvidia is really only down 3.7% which again in The Grandin scheme of things is really not a whole lot for for the stock um let's take a look here also just a few more things that I want to check out on this okay uh from CE Nvidia Jensen hang uh for the quarter Gap earnings 67 cents 168% year of year Hopper demand remains strong the anticipation for Blackwell is incredible um Nvidia achieved record revenues as global data centers are in Full Throttle to modernize the entire Computing stack with accelerated Computing and generative Ai and during the first half of fiscal year 2025 Nvidia returned $15.4 billion to shareholders in the form of share repurchases and cash dividends so again we we noted the share shares outstanding going down on a quarter year-over-year basis and also on a quarter- over quarter basis so that is a good thing $15.4 billion even though nvidia's dividend yield is actually quite a joke because they only pay a cash dividend of a penny per share uh so it's actually nothing but the big benefit comes from the share BuyBacks that they they did of $15 billion and also they approved an additional $50 billion of share BuyBacks uh without expiration so that's actually quite crazy $50 billion can buy them back a lot of stock which is exactly what we want to see companies buying back shares returning it in the form of um you know in the form of these repurchases back to the shareholders and that's also um a very very bold statement because you know $50 billion of share BuyBacks into this own company that just goes to show it like a stamp of confidence that look we can't come up with any better ideas with the $50 billion than to buy our own company stock right then to buy it buy back our own stock here and repurchase because that's the best Roi that we can come up with um for for the $50 billion that we're spending so that again is actually a pretty good deal um in my opinion because not a lot of companies are buying back back that much every single I mean not not a lot not a lot of companies board of directors are authorizing $50 billion worth of BuyBacks it's only the bigger companies magnificent 7 that are doing that and Apple's been able to do that very well over the years and that's also what's resulted in um in in that earnings um growth for the company even though revenue and and and net income growth has been pretty modest but the earnings growth has been very very strong uh for the for the company like apple because of the share BuyBacks so Nvidia is also in a very similar cam $50 billion is actually quite a lot in um in terms of its share byb back authorization uh dividend penny per share yeah I mean it's it's a really um to tempt Buffet Brian says yes to tempt Warren Buffett for one pen one penny per share you'll have to buy a lot of shares in order just make it make sense for him okay um there's so many comments coming in so it's kind of hard to uh to read through all of them but but again thank you so much for joining everyone uh a huge shout out to every single person here wherever you guys are tuning in from uh I read a lot of really amazing locations a lot of really beautiful places so uh thanks again for joining we're going to be listening into Jensen hang in about 20 minutes here and uh overall I would say my first impression from the numbers here is um hitting across the bo board a lot of check marks um record Revenue record profits record data center Revenue strong guidance beating expectations across the board um and then also authorizing a big share buyback strong balance sheet um good cash flow even free cash flow growing at over 100% year-over year um so everything kind of lines up really well for the stock so um down about 3% kind of a modest reaction from the market but I'm sure Jensen hang can restore some of that confidence even if that there is uh some doubts among investors which has resulted in the stock price to come down because expectations were really high right so you can um you can sometimes live up to those high expectations um and for those reasons I think that's the only reason I can think of why the stock price is down 3% because everybody was expecting it to be higher and uh for for it to be slightly lower it's completely normal so so 12194 is where we're at down almost 3% and uh 3% of 3 trillion that's about $90 billion and that's still not a whole lot of of market movement here we were of course down almost 8% at one point at that point I remember talking about buying opportunity you just never know um you were down over 10.6% from our after hours peak of 128 um and of course from those levels we have now recovered 6.4% so incredible amounts of volatility for uh for NVIDIA okay so let me break down some of the comments here by the way everyone uh make sure that you drop a like subscribe if you haven't already please do subscribe if you're joining us for the first time because we do cover a lot of fundamental analysis macro analysis uh technical breakdowns option options trading trading strategies long-term investing strategies everything's going to be covered so if you are interested in more objective analysis more analysis without any emotions involved more data driven breakdowns um definitely do subscribe I really really appreciate that um yeah so if you can uh if you're planning to hold for the very long term we're talking 3 5 7 10 years out depending on time Horizon I think it's okay to uh dollar cost average um you know depending on of course where you find Value um in that particular stock right so there's also calculators on our platform which you can use so you know you can come over here you can pretty much analyze using our analyzer tools and uh you know take a look at what's the intrinsic value according to your analysis for individual stocks and uh and then decide whether it's worth buying or not uh Nvidia only down 1.3% can we turn green can we turn green so I'm going to end this poll this actually quite an insane poll we so we did a poll I'm going to put it on stream so we did a poll asking people how many investors Traders here have vested interest in Nvidia stock because of the earnings that were coming out today eving 70% of the 1,627 votes that we received that were Traders investors that had or have a position in Nvidia stock options or other trades incredible absolutely incredible just insane amount of support or you know how many investors are bullish on Nvidia that's incredible so we're going to end the poll here so let's just start a new one we'll start a new one we'll ask everyone Nvidia stock turns green turns more red let's do that so let us know we're only 1.3% away folks from turning green 1.3% away from turning green I sold the cover call $28 that expires August 30th uh does anyone know what happens if a person were to sell the underlying 100 shares so you sold oh you sold a cover put you sold a cover put um for $28 Pink Panther why would you pick a strike of $28 that's deep in the money put were you expecting inia to be higher than $28 by August 30th what wait a second like uh sold the cover put okay cash C put $28 you mean $18 he must mean $18 okay yeah I was going to say $108 yeah yeah yeah yeah so $18 so it's still out of the money uh it's at 121 right now so you've got the same put as me so $18 still out of the money um and expires Friday August 30th same as mine so if um so the buyer doesn't have any right uh because it's not in the money yet um the buyer can exercise his or her right when the put option is in the money in that case if it's below $180 um anytime before or at expiration then they can exercise their right to buy the shares uh excuse me to sell their shares uh to you and then you'll be obligated to buy the shares at that strike price so since you are still out of the money um you're fine at least for now we'll see what happens tomorrow and of course Friday um yeah $28 would have been crazy PDD smci December calls out of the money on the dip should print nicely that's great Frank you know what you're doing you're always printing money there so I love to hear what you're up to with your trades so congratulations it's incredible hang coming on in about 17 minutes or so so we'll be ready uh to listen in to the earnings call as well reminder on the day of the event G to the webcast 15 minutes before the start time still down 2.7% so okay what are the polls like 75% of you guys 75% expecting Nvidia to turn green uh Sher with thoughts on 115 puts so sold them or bought them have you bought 115 puts or have you sold them 115 still close I mean we were just at under 115 for a brief moment um I'm still not 100% sure if Nvidia is going to be able to turn green here because we did see a you know bit of a drop quite aggressive drop here at 115 and then of course recover just a little bit it's really going to come down to what Jensen Wong says and his team says uh during the earnings call but I'm still not 100% sure if Nvidia can hold up um these levels right now now that everyone's been able to digest that report a little bit of technical analysis there for everyone okay um all says favorite YouTuber keep being great thank you so much I appreciate that um and again I don't I don't consider myself as a YouTuber I just use the medium of YouTube to share my analysis and content so thank you so much for uh for sharing that message and I am glad that you're enjoying the content that's the that's what we aim to do okay bot puts 119 115 uh and a couple shots in the wind at 105 gotcha so I mean 119s already uh well they were both 115 and 119 briefly in the money um when when Nvidia dropped here so I guess really the question is and then again what's the expiration there are they expiring later this week or you've got more time uh thoughts on Inuit stock no that's actually a good question because Inuit is one of those companies that we haven't analyzed yet in a very long time and I was actually looking at that stock from a different angle today because um I think in it has a lot of um if if there's one stock in technology sector that has a lot of influence of um the tax code um and then it's going to be influenced by who ends up winning the presidential election campaign in November it's in TT St because it's pretty much detail on uh you know companies like Turbo Tax applications like Turbo Tax uh Credit Karma like a lot of these companies that very much rely on federal income tax filings and state filings and all that uh all those tax reports and if that were to let's say uh get changed or updated after the expiration in 2025 then then into it is one of those companies that does get affected a lot it's been mostly flat um for the for a very long time but we'll take a look at that in more detail in another video um into it is a stock that I feel has a lot of potential because of its uh Suite of applications I mean I've been using it for quite some time but uh but it's really hasn't done anything in a long time and there is that political risk that also hangs um over over into it so awesome stream man thank you so much still though the max 7 is all red I'm really curious about the market tomorrow so let's just quickly take a look at all of our spreadsheets shall we so let's start with Market concentration we'll take a look and how the day ended uh for for today so I'll let these all update and then uh we'll see how much magnificent 7 collectively lost and then we'll do another poll quick poll oh didn't have to show you guys that okay so it wasn't updated so that's good um okay now it is updated here uh 2% selloff in Nvidia just want to make sure that that is indeed correct uh yep so 2.1% sell off uh that was that $66 billion loss so overall the entire S&P 500 folks and this is a quiz this is time for a quiz for all the 18800 people that are in there we had S&P 500 drop by almost $300 billion so $29 4 billion um was the loss for S&P 500 how much of that you think can be attributed to Max 7 that's the question how much of that $294 billion loss came from magnificent 7 stocks the seven that we know of Apple Microsoft Amazon Google meta Tesla Nvidia how much of that $294 billion loss came from those magnificent 7 50% 60% 80% 70% what do you think what do you think what percentage whoever gets it right wins a question that they can ask and be precise I want precise answers 85% 80% 90% Okay so we've got we're going to have a lot of questions I mean a lot of answers here that I'm going to have to come back to Du says 2% 70 86 35 69 90 almost all of it 89 6% so let's take take a look 294 billion s&p500 loss 178 billion came from um max 7 this actually number went down this went down didn't it so if you do the math now if you take this number and then divide it by this number here uh we're looking at a percentage 61% this number went down earlier we were looking at this and we saw 80 something per I think it was 84% or 80% um and that number went down so let's see who had 60 1% who was the closest 85 85 50 87 60 so yongan 60% very close Jim Warwick 65% so very close as well nobody precisely predicted 61 right weight Yar said 60% as well oh now everybody's saying 61 um yeah so 61% of that loss came from magnificent 7 and a lot of that came of course from Nvidia which was down over $66 billion on the day 37% of that came from Nvidia okay so we are down about 4.3% right now 10% uh 10 minutes left for the earnings calls to begin it's already started so we're going to mute that and what I'm going to do now is I'm going to get this out like that and we are ready to go that's going to be the earnings call perfect how's that set up for all of you we're going to do an audio check very soon but we've got Nvidia stock right there earnings call right there and my beautiful face in the bottom left yes Vault I'll do the technical analysis on on payp pal uh during our Market updates so I'll do the market update right after this live stream it looks like it's going to be a pretty long knife for me it's almost one here so folks drop a like for the Sleepy me and Jensen hang I would really appreciate that let's get up to at least over 800 likes on this live stream helps out the channel um and right now we've got Nvidia down over 4 and a half% earnings call starting in about 9 minutes here 9 minutes we are live we're live from not New York we're live from tii today Georgia yes we have to get 200,000 subscribers everyone so 1,800 people watching right now I'm I'm sure we can easily increase at least a thousand subscribers today um help us get us to that goal by the end of this year it's a big dream so subscribe to the channel really help us out a great cause only takes a second I know you can do it yeah I did feel my pain with pain pal yes definitely bargie says I have some screen problems you said your beautiful face but it's not pretty here oh man that's a big that's a nice shot I like that I like that have you tried some kapuri yes yes quite a few times actually a couple times kapuri can Kali had all of that absolutely amazing um but yeah so tell me there's other tell me if there's any other foods that I can try here while I'm here in Georgia um and then tomorrow I've got I've got pretty packed next few days um sending you some Starbucks yes man we are such stock Geeks that even when we're sending each other gifts we're talking in stock tickers let me let me buy you a Starbucks SB not the coffee okay 741 votes Nvidia turns green 75% man we've had 75% for every poll that we have done Nidia stock turning green 75% Nvidia stock going higher 75% how many people are trading Nvidia 75% it's all been 75% so it makes sense right it makes sense because people who are trading Nvidia want it to be higher so at 7575 people who are not trading it they want it at lower prices so it's 25% so for both polls we at 25% uh the beat wasn't enough uh this supposed to be at least green so I I I think the beat was good I think it was a pretty strong beat from the company with record revenues I mean at this point how much can you really do right you're growing revenues by triple digits you're already in the billions of dollars the size and scale of the company is so large that I think the law of large numbers will catch up um very soon right so Vincent By the way it's 5:00 a.m. in the morning of 29 so where are you watching us from Vincent I'm assuming you're further on the East but what part of the world are you watching us from definitely not India India it's about 2:30 in the morning so I'm assuming you're somewhere even further east where is at 5:00 a.m. right now Japan what's time is it in Japan qual por so Malaysia is about 5 a.m so maybe you're watching us from Malaysia from Taiwan okay nice very cool let's see who's who's the farthest on the time zone right now can anyone beat Vincent from Taiwan where it's 5: a.m. can anyone beat him what what time is it in Australia right right now who who's literally the far most ahead in time right now among all of us while we wait guys this is just the 1 a.m. version of me talking I'm very sleepy so I do apologize Australia 7 a.m. okay Marcus early in the morning for you early in the morning for Marcus here 7 in the morning man I could never live in Australia for a long period of time because if I'm trading or investing the US markets the the entire night it's just my sleep schedule would be so messed up that's one of the reasons why I dread going to Australia in the first place is that I won't be able to stay up like the entire night I won't be able to trade I won't be a look at the markets and it's going to be a bit of a hassle it's it is a headache it's great for going there just for a few weeks but I wouldn't be ever ever be able to live there fragrance say 4:55 p.m. in Florida uh for me it's 11:00 in the evening Netherlands so let's let's let's see who is now the farthest on the other side who is the most West right now in I think probably LA Los Angeles if anybody's joining us from there what time is it in LA like almost 1 p.m. 2: p.m. we got 2 p.m. and then we've got all the way uh to 700 in the morning 100% I'm in a less state energy right now so I'm literally just talking I'm just ready to shut up and let Jensen Wong talk now at this point for an hour 20 two in the morning not an easy thing to do man okay 400 p.m. in Texas San Francisco 1:56 p.m. in Long Beach Cali so 2 p.m. we got 2 p.m. to beat 2 p.m. to beat on the west anyone see this is what I'm talking about even at 2: in the morning here these motorcycles they just keep going 2 p.m anyone 2 p.m going once can anyone beat that anyone even more West 300 p.m. Colorado still doesn't beat La New Zealand 9:00 a.m. okay so we have a winner Brent farthest on on the east side 900 in the morning for New Zealand Midwest 400 p.m. Melle still not good enough we have people in San Francisco at 2 p.m. 12:57 So currently visiting Alaska is Alaska more West than La is it a different time zone I'm sorry guys my time zone geography isn't the best but let me just take a look by the way Jensen Wong starts talking in two minutes here yeah 156 Beverly Hills okay giving it 9:00 a.m. New Zealand winter and then 2 pm in California that's what we have bomb Springs yep it's all all the Cali people congratulations you are on this chat the most far behind I would say okay coming back over to this just waiting for this to start Nvidia is still down about 3.8 almost 4% I'm going to grab water once he starts talking yes Alaska is farther west than La I mean Sarah pen um said she could see Russia from her back porch okay that's incredible so so I guess no Alaska is 12:57 p.m. and California is 1:57 p.m. right celic thank you so much I appreciate that Che for Californians wow earth earthquake alert um in Taiwan so hope everyone is doing well there yeah knew it was going to be hard to surprise on such a big expectation such high expectations so um that's normal you know for for companies to beat expectations but still not come in strong enough for Wall Street 2o be happy because I feel like they can never be happy ah so I live in Dubai um but I'm streaming from tii Georgia right now that's where I'm at traveling at the moment 11:00 p.m. in Malta I've always wanted to go to Malta by the way a lot of the places that you guys are from I definitely want to visit so it's kind of good to good to know that you know we've got friends all over the place all over the world and this is the the community is what kind of connects us together and that's what I mentioned in our Discord as well that look if you're traveling uh someplace be sure be actually know that you've got friends there you've got people that are part of the money vest Community there that you can meet up with that you can hang out with if you want um that can guide you in that particular country so that at least you've got a friendly face um even though you've never met you still have people that are part of the same community and that's what I think is so cool um that you're always going to a place where you have a friend already as part of the community so that's why I do these you know sometimes I ask you guys where you guys are joining us from because that way you can connect with each other as well um and even in our Discord people can connect with each other I'll do an audio check so let me know if the audio is good this is a different mic so I hope the audio is going to be fine Alex uh says I'm new to the community thank you so much Alex for joining I really appreciate it so a little bit of rundown on the community so what we like to do is full fundamental analysis on individual stocks as well as macroeconomics we cover technical analysis on stocks options trading swing trading long-term investing um as well as uh looking at you know educational stuff so you've got courses on psychology of investing options fundamentals technicals uh everything's available and our focus is very much on data driven analysis to try to remove emotions as much as possible and let the numbers and the data make the decisions for us um and then again we have a Discord Community thousand of Traders investors globally as you already know so many uh countries represent from all over the world so you can join there's a lot of people in your shoes getting started people that are also experienced with multiple decades worth of experience so you can learn from everyone a fiscal 2025 is scheduled for Wednesday November 2024 with that let me turn the call to thanks thanks Stuart Q2 with another record quarter revenue of 30 billion was up 15% sequentially and up 122% year on year and well above our Outlook of 28 billion starting with data center data center revenue of 26.3 billion was a record up 16% sequentially and up 154% year on-year driven by strong demand for NVIDIA Hoover GPU Computing and our networking platforms compute Revenue grew more than 2.5x networking Revenue grew more than 2x from the last year cloud service providers represented roughly 45% of our data center revenue and more than 50% stem from the consumer internet and Enterprise companies customers Contin you to accelerate their Hopper architecture purchases while gearing up to adopt Blackwell Key workloads Driving our data center growth include generative AI model training and inferencing video image and Text data pre and postprocessing with Cuda and AI workloads synthetic data generation AI powered recommender systems SQL and Vector database processing as well next Generation models will require 10 to 20 times more compute to train with significantly more data the trend is expected to continue over the trailing four quarters we estimate that inference drove more than 40% of our data center Revenue csps consumer internet companies and Enterprises benefit from the incredible throughput and efficiency of nvidia's inference platform to make demand for NVIDIA is coming from Frontier Model makers consumer internet services and tens of thousands of companies and startups building generative AI applications for consumers advertising education Enterprise and health care and Robotics developers desire nvidia's Rich ecosystem and availability in every cloud csps appreciate the broad adoption of Nvidia and are growing their Nvidia capacity given the high demand Nvidia h200 platform began ramping in Q2 shipping to large csp's consumer internet and Enterprise companies the Nvidia h200 bills upon the strength of our hoer architecture and offering over 40% more memory bandwidth compared to the age 100 our data center Revenue in China grew sequentially in q to and is significant contributor to our data center Revenue as a percentage of total data center Revenue it remains below levels seen prior to the imposition of export controls we continue to expect the China Market to be very competitive going forward the latest round of ml perf inference benchmarks highlighted nvidia's inference leadership with both Nvidia Hopper and Blackwell platforms combining to win gold medals on all tasks at computex Nvidia with the top computer manufacturers unveiled an array of Blackwell architecture powered systems and Nvidia networking for building AI factories and data centers with the Nvidia mgx modular reference architecture our oems and odm partners are building more than 100 Blackwell based systems designed quickly and cost effectively the Nvidia Blackwell platform brings together multiple gpus CPU dpu EnV link NV link switch and the networking chips systems and Nvidia Cuda software to power the next generation of AI across the cases Industries and countries the Nvidia gb200 NBL 72 system with the fifth generation NV link enables all 72 gpus to act as a single GPU and deliver up to 30 times faster inference for llms workloads and unlocking the ability to run trillion parameter models in real time coer demand is strong and Blackwell is widely sampling we executed a change to the Blackwell GPU Mass to improve production yields Blackwell production ramp is scheduled to begin in the fourth quarter and continue into fiscal year 26 in Q4 we expect to zip several billion dollars in Blackwell Revenue hoer shipments are expected to increase in the second half of fisal 2025 Hopper Supply and availability have improved demand for Blackwell platforms is well above Supply and we expect this to continue into next year networking Revenue increased 16% sequentially our ethernet for AI Revenue which includes our Spectrum X endend ethernet platform doubled sequentially with hundreds of customers adopting our ethernet offerings Spectrum X has broad Market support from OEM and odm partners and is being adopted by csps GPU Cloud providers and Enterprise including xai to connect the largest GPU compute cluster in the world World Spectrum X supercharges ethernet for AI processing and delivers 1.6x the performance of traditional ethernet we plan to launch new Spectrum X products every year to support demand for scaling compute clusters from tens of thousands of gpus today to millions of gpus in the near future Spectrum X is well on track to begin a multi-billion dollar product line within a year our Sovereign AI opportunities continue to expand as countries recognize AI expertise and infrastructure at National imperatives for their society and industries Japan's National Institute of advanced industrial science and technology is building its AI bridging Cloud infrastructure 3.0 supercomputer with Nvidia We Believe Sovereign AI Revenue will reach low double digit billions this year the Enterprise AI wave is started Enterprises also drove sequential Revenue growth in the quarter we are working with most of the Fortune 100 companies on AI initiatives across Industries and geographies a range of applications are fueling our growth including AI powered chat booot generative Ai co-pilots and agents to build new monetizable business applications and en enance employee productivity amdoc is using Nvidia generative AI for their smart agent transforming the customer experience and reducing customer service cost by 30% service now is using Nvidia for its now assist offering the fastest growing new product in the company's history sap is using Nvidia to build jewel co-pilots cohesity is using Nvidia to build their generative AI agent and lower generative AI development costs snowflake serves over 3 billion queries a day for over 10,000 Enterprise customers is working with Nvidia to build coal pilots and lastly withdrawn is using Nvidia AI Omniverse to reduce endtoend cycle times for their factories by 50% Automotive was a key growth driver for the quarter as every automaker developing autonomous vehicle technology is using aidia in their data centers Automotive will drive multi-billion dollars in Revenue across on-prem and Cloud consumption and will grow as Next gener Generation AB models require significantly more compute Healthcare is also on its way to being a multi-billion Dollar business as AI revolutionizes Medical Imaging surgical robots patient care electronic health record processing and Drug Discovery during the quarter we announced a new Nvidia AI flat Foundry service to Ser supercharge generative AI for the world's Enterprises with meta's lva 3.1 collection of models this marks a watershed moment for Enterprise AI companies for the first time can leverage the capabilities of an open-source Frontier level model to develop customized AI applications to encode their institutional knowledge into an AI flywheel to automate and accelerate their business exent is the first to adopt the new service to build custom llama 3.1 models for both its own use and to assist clients seeking to deploy generative AI applications Nvidia Nims accelerate and simplify model deployment companies across Healthcare energy Financial Service Retail transportation and Telecommunications are adopting Mims including aramco Lowe's and Uber at& realized 70% cost savings and eight times latency reduction after moving into Nims for generative Ai call transcription and classification over 150 partners are embedding NS across every layer of the AI ecosystem we announced Nim agent blueprints a catalog of customizable reference applications that include a full Suite of software for building and deploying Enterprise generative AI applications with Nim agent blueprints Enterprises can refine their AI applications over time creating a datadriven AI flywell the first Nim agent blueprints include workloads for customer service computer AED drug Discovery and Enterprise retrieval augmented generation our system integrators technology solution providers and system Builders are bringing Nvidia Nim agent blueprints to Enterprises Nvidia Nim and Nim agent blueprints are available through the Nvidia AI enterprise software platform which has great momentum we expect our software SAS and support Revenue to approach a $2 billion annual run rate exiting this year with Nvidia AI Enterprise notably contributing to growth moving to gaming and AIP PCS Gaming revenue of 2.88 billion increased 9% sequentially and 16% year onye we saw sequential growth in console notebook and D help revenue and demand is strong and growing and channel inventory remains healthy every PC with RTX is an AI PC RTX PCS can deliver up to 1,300 AI tops and there are now over 200 RTX AI laptops designs from leading PC manufacturers with 600 AI powered applications and games and an installed base of 100 million devices RTX is set to revolutionize consumer experiences with generative AI Invidia Ace a suite of generative AI Technologies is available for RTX AI PCS Mega break is the first game to use Nvidia Ace including our small small large small language model minitron 4B optimized on device inference the Nvidia gaming ecosystem continues to grow recently added RTX and dlss titles including Indiana Jones and the great circle Dune Awakening and Dragon Age The Veil guard the GeForce now Library continues to expand with total catalog size of over 2,000 titles the most content of any cloud gaming service moving to Pro visualization revenue of 454 million was up 6% sequentially and 20% year on-ear demand is being driven by Ai and graphic use cases including model fine tuning and Omniverse related workloads automotive and Manufacturing were among the key industry verticals driving growth this corner companies are racing to digital at tize workflows to drive efficiency across their operations the world's largest electronics manufacturer foxcon is using Nvidia Omniverse to power digital twins of the physical plants that produce Nvidia black hole systems and several large Global Enterprises including Mercedes ben Mercedes-Benz signed multi-year contracts for NVIDIA Omniverse Cloud to build industrial digital twins of factories we announced new Nvidia USD Nims and connectors to open Omniverse to new Industries and enable developers to incorporate generative AI co-pilots and agents into USD workloads accelerating their ability to build highly accurate Virtual Worlds wpp is implementing usdm microservices in its generative AI enabled content creation pipeline for customers such as the Coca-Cola company moving to automotive and Robotics Revenue was 346 million up 5% sequentially and up 37% year on year on-year growth was driven by the new customer rants in self- thriving platforms and increased demand for AI cockpit Solutions at the consumer at the computer vision and pattern recognition conference Nvidia won the autonomous Grand Challenge in the end to end driving at scale category outperforming more than 400 entries worldwide Austin Dynamics byd Electronics figure intrinsic seens skilled 8i and paradig Robotics are using the Nvidia Isaac robotics platform for autonomous robot arms humanoids and mobile robots now moving to the rest of the p&l Gap gross margins were 75.1% and non-gap gross margins were 75.7% down sequentially due to a higher mix of new products within Data Center and inventory Provisions for low yielding black well material sequentially Gap and non-gaap operating expenses were up 12% primarily reflecting higher compensation related costs cash flow from operations was 14.5 billion in Q2 we utilized cash of 7.4 billion toward shareholder returns in the form of share repurchases and cash dividends reflecting the increase in dividend per sh our board of directors recently approved a $50 billion share repurchase authorization to add to our remaining 7.5 billion of authorization at the end of Q2 let me turn the outlook for the third quarter total revenue is expected to be 32.5 billion plus or minus 2% our third quarter Revenue Outlook incorporates continued growth of our Hopper architecture and sampling of our Blackwell products we expect Blackwell production ramp in Q4 Gap and non-gap growth margins are expected to be 74.4% and 75% respectively plus or minus 50 basis points as our data center mix continues to shift to new products we expect this trend to continue into the fourth quarter of fiscal 2025 for the full year we expect gross margins to be in the mid 70% range Gap and non-gaap operating expenses are expected to be approximately 4.3 billion and 3.0 billion respectively full year operating expenses are expected to grow in the mid to Upper 40% range as we work on developing our next generation of products Gap and non-gaap other income and expenses are expected to be about 350 million including gains and losses from non Affiliated Investments and publicly held Equity Securities Gap and nonap tax rates are expected to be 177% plus or minus 1% excluding any discreet items further Financial detail are included in the CLE commentary and other information available on our IR website we are now going to open the call for questions operator would you please help us and Poll for questions questions thank you and at this time I would like to remind everyone in order to ask a question press star and then the number one on your telephone keypad we will pause for just a moment to compile the Q&A roster and as a reminder we ask that you please limit yourself to one question and your first question comes from the line of vivec Arya with Bank of America sec ities your line is open uh thanks for taking my question um Jensen you mentioned um in the prepared uh comments that there's a change in the Blackwell GPU mask I'm curious are there any other incremental changes in backend packaging or anything else and I think related um you suggested that you could ship several billion dollars of Blackwell in Q4 despite a change in in the design is it because all these issues will be solved by then just help us size what is the overall impact of any changes in in Blackwell timing what that means to your kind of Revenue profile and how are customers reacting to it yeah thanks for V uh the change to the mask is complete uh there were no functional changes necessary and so we're sampling uh functional samples of uh Blackwell Grace Blackwell in a variety of system configurations as we speak uh there are something like a hundred different types of Blackwell based systems that are built that were shown at compy text and we're enabling uh our ecosystem to start sampling those uh the functionality of Blackwell is as it is and we expect to start production in Q4 and your next question comes from the line of toshia Hari with Goldman Sachs your line is open hi thank you so much for taking the question uh Jensen I had a relatively longer term question uh as you may know there's a pretty heated debate in in the market on you know your customers and customers customers return on investment um and what that means for the sustainability of of capex going forward uh internally at Nvidia like what what are you guys watching you know what's on your dashboard as you try to gauge customer return and and that impacts capex uh and then a quick followup maybe for Colette um I think your Sovereign AI number for the full year went up uh maybe a couple billion uh what's driving the improved Outlook and and how should we think about fiscal 26 thank you thanks toia uh first of all when I said ship production in Q4 I mean shipping out I don't mean starting to ship but I mean I don't mean starting production but shipping out uh on the longer term longer term question let's take a step back and and you've heard me say that we're going through two simultaneous platform transitions at the same time the first one is transitioning from accelerated Computing to from uh general purpose Computing to accelerated Computing and the reason for that is because CPU scaling has been known to be slowing for some time and it is it is slow to a crawl and yet the amount of computing demand continues to grow quite significantly you could maybe even estimate it to be doubling every single year and so if we don't have a new approach Computing inflation would be driving up the cost for every company and it would be driving up the energy consumption of data centers around the world uh in fact you're seen that and so the answer is accelerated Computing we know that accelerated Computing of course speeds up applications it also enables you to uh do Computing at a much larger scale for example scientific simulations or database processing but what that translates directly to is lower cost and lower energy consumed and uh in fact this week uh we there's a Blog that came out that that talked about a whole bunch of new libraries that we offer and that's really the core of the first platform transition going from general purpose Computing uh to excel cated Computing and it's not it's not unusual to see uh someone Sav 90% of their Computing cost and and um and the reason for that is of course you just sped up an application 50x uh you would expect the Computing cost to to uh decline quite significantly the second was enabled by accelerated Computing because because we drove down the cost of training large language models or training deep learning so incredibly that it is now possible to have gigantic Scale Models multi-trillion parameter models and train it on pre-train it on just about the world's uh knowledge Corpus and let the model go figure out how to understand uh human represent human language representation and how to codify knowledge into its neuron Networks and how to learn reasoning and so so uh which which caused the generative AI Revolution now gener generative AI uh taking a step back about why it is that we went so deeply into it is because it's not just a feature it's not just a capability it's a fundamental new way of doing software instead of human engineered algorithms we now have uh data we tell the AI we tell the model we tell the computer what's the what are the expected answers what are our what are our previous observations and then for it to figure out what the algorithm is what's the function it learns a universal you know AI is a bit of a universal function approximator and it learns the function and so you could learn the function of almost anything you know and anything that you have that's predictable anything that has structure anything that um uh uh that you have um previous examples of and so so now here we are with generative AI it's a fundamental new form of computer science it's affecting uh how every layer of computing is done from CPU to GPU from Human engineered algorithms to machine learned algorithms and the type of applications you could now develop and and um uh produce is uh fundamentally uh remarkable and there are several things that are happening in generative AI so the first thing that's happening is the frontier models are uh growing in quite substantial scale and they're still seeing we're still all seeing uh the benefits of scaling and whenever you double the size of a model you also have to more than double the size of the data set to go train it and so the amount of flops necessary in order to create that model uh goes up quadratically and and so um it's not unus it's not unexpected to see that the next year generation models could take 20 you know 10 20 40 times more compute uh than last generation so we have to continue to drive the generational um performance up quite significantly so we can drive down the energy consumed and drive down the cost necessary to do it so the first one is um uh there are larger Frontier models trained on more modalities and surprisingly they're more Frontier Model makers than last year and so you have more on more on more that's that's one of the Dynamics going on in generative AI the second is although it's below the tip of the iceberg you know what we see are chat GPT um uh image generators uh we see um uh coding uh we use we use uh generative AI for coding quite extensively here at Invidia now uh we of course have a lot of digital designers and things like that um but those are kind of the tip of the iceberg what's below the iceberg are the largest systems largest Computing systems in the world today which are and you've heard me talk about this in the past which are recommender systems moving from CPUs it's now moving from CPUs to generative AI so recommender systems uh ad generation custom ad generation targeting ads at very very large scale and quite hyper targeting uh search and user generated content these are all very large scale applications have now uh evolved to generative AI of course the number of generative AI startups uh is generating tens of billions of dollars of uh Cloud renting uh opportunities for our Cloud Partners uh and uh Sovereign AI you know countries that are now realizing that uh their data is their natural and National resource and they have to use they have to use AI build their own AI infrastructure so that they could uh have their own digital intelligence uh Enterprise AI as Colette mentioned earlier is uh starting and uh you might have seen our announcement uh that uh the world's leading it uh companies are joining us to take the mvidia AI Enterprise platform uh to the world's Enterprises that the the comp companies that we're talking to uh so many of them are just so incredibly excited to drive uh more productivity out of their company and then and then General robotics the the big the big um uh transformation last year as we uh are able to now learn uh physical AI from watching video and human demonstration and synthetic data generation from uh reinforcement learning uh from systems like Omniverse uh we are now able to uh work with just about every uh robotics companies now to start thinking about start building um um General uh General Robotics and so you can see that there's just so many different directions that General AI is going and so we're we're actually seeing the the momentum of gener generative AI accelerating and to she to answer your question um regarding us Sovereign Ai and our our goals in terms of growth in terms of Revenue uh certainly is a unique um and growing opportunity uh something that uh surfaced uh with generative Ai and the desires of countries around the world to have their own uh generative AI that would be able to incorporate uh their own language incorporate their own culture incorporate their own data in that in that country uh so more and more um excitement around these U models and what they can be specific for those countries so yes we're see we are seeing some growth opportunity in front of us and your next question comes from the line of Joe Moore with Morgan Stanley your line is open great thank you um Jensen in the fresh relee you talked about Blackwell anticipation being incredible um but it seems like harer demand is also really strong I mean you're guiding for a very strong quarter without Blackwell in October so you know how long do you see sort of coexisting strong demand for both and can you talk about the transition to Blackwell do you see people intermixing clusters do you think most of the Blackwell activities new clusters just some sense of what that transition looks like yeah thanks Joe the demand for Hopper is really strong and it's true the demand for uh Blackwell is incredible uh there there's a couple reasons for that the first reason is is um if you just look at look at the world's cloud service providers the amount of GPU capacity they have available it's basically none and the reason for that is because they're either being deployed internally for accelerating their own workloads data processing for example uh data processing you know we hardly ever talk about it because it's mundane you know it's not it's not very cool because it doesn't generate a picture or you know generate words but almost every single company in the world processes data in the background and and um uh nidus gpus are the only accelerators on the planet that process and accelerate data SQL data um pandas data data science uh toolkits like pandas and the new one polers uh these are the one the most popular data processing Platforms in the world and aside from CPUs which as I've mentioned before really running out of steam uh nvidia's accelerated Computing is is really the only way to to get uh boosting performance out of that and so so that's number one is the primary the number one use case long before gener came along is the the migration of applications one after another uh to accelerated Computing the the second the second is of course rent the rentals they're they're renting uh capacity uh to model makers are renting it to uh startup companies and a generative AI company uh spends the vast majority of their uh invested Capital uh into into infrastructure so that they could use an AI to help them create products and and so these companies need it now they they just simply can't afford you know you just raised money you uh they want you to put it to use now uh you have processing that you have to do you can't do it next year you got to do it today and so so there's a there's a fair that's one reason the second reason for Hopper Demand right now is because of the race to the next Plateau the first person to the next Plateau um uh gets to be you know a gets to introduce a revolutionary level of AI the second person who gets there is incrementally you know better or about the same and so so the ability to systematically and consistently race to the next plateau and be the first one there is how you establish leadership um you know Nvidia is constantly doing that and we show that uh to the world and the gpus we make and the a factories that we make uh the networking systems that we make um the S so's we create I mean we we want we want to set the pace we want to be consistently the world's best and that's the reason why we drive ourselves so hard um of course we also want to see our dreams come true and and all of the the the capabilities that that we uh imagine in the future and the benefits that we can bring to society we want to see all that come true and and so these model makers are are um are the same they're they're of course they want to be the world's best they want to be the world's first um and and although Blackwell will start shipping out in billions of dollars at the end of this year um the the standing up of the capacity is still probably you know weeks and a month or so away and so between now and then is a lot of generative AI Market Dynamic and so everybody is just really in a hurry it's a it's either operational reasons that they need it they need accelerated Computing um they don't want to build any more uh general purpose Computing infrastructure and even Hopper uh you know of course H2 200 state-ofthe-art uh Hopper if you have a choice between building CPU infrastructure right now for business or Hopper uh infrastructure for business right now that decision is relatively clear and so I think people are just clamoring uh to uh transition the trillion dollars of uh established installed infrastructure to a modern infrastructure in Hopper state of the art and your next question comes from the line of Matt Ramsey with TD Cowan your line is open um thank you very much good afternoon everybody um in I wanted to kind of circle back to an earlier question about um the debate that investors are having about I don't know the ROI on all of this capex and hopefully this question and the distinction will make some some sense but what I'm what I'm having discussions about is is with like the percentage of folks that you see that are spending all this money um and looking to sort of push the frontier towards um AGI convergence and as you just said a new plateau and capability um and they're going to spend regardless to get to that level of capability because it opens up so many doors for for um the industry and for their company versus customers that are really really focused today on capex versus Roi I don't know if that distinction makes sense I'm just trying to get a sense of how you're seeing the priorities of people that are putting the dollars in the ground on on this new technology and and what their priorities are and and their time frames are for that investment thanks thanks man the people who are in investing in uh Nvidia infrastructure are getting Returns on it right away it's the best Roi uh infrastructure Computing infrastructure investment you can make today and so so one way to think through it you know probably the most the easiest way to think through it is just go back to First principles you have a trillion dollars wor of general purpose Computing infrastructure and the question is do you want to build more of that or not and for every billion dollars worth of General CPU based infrastructure uh that you stand up you probably rent it for less than a billion and so um because it's it's commoditized there's already a trillion dollars on the ground what's the point of getting more and so so the the people who are who are clambering to get this infrastructure one um when they build out Hopper based infrastructure and soon uh blackw based infrastructure they start saving money that's tremendous return on investment and the reason why they start saving money is because data processing saves money um you know data processing this price is just a giant part of it already and so recommender system save money um so on so forth okay and so you start saving money the second thing is everything you stand up uh are going to get rented because so many companies are are being founded to create generative Ai and so you're uh your uh uh capacity gets rented right away and the return on investment of that is really good and then the third reason is your own business you know you want to either create the next Frontier yourself or uh your your own internet services uh benefit from uh you know a a a Next Generation ad system or next Generation recommender system or next Generation search system uh so for your own Services uh for your own stores uh for your own user generated content social media platforms um you know for for for your own Services generative AI uh is also uh a um a uh fast Roi and so there's a lot of ways you could think through it um but at the core it's because it is the best Computing infrastructure you could put in the ground today the world of general purpose Computing is Shifting to accelerated Computing the world of human engineered software is moving to to generative AI software um if you were to build infrastructure to modernize your uh your your cloud and your data centers uh build it with accelerated Computing and video that's the best way to do it and your next question comes from the line of Timothy arur with UBS your line is open thanks a lot um I had a question on the shape of the revenue growth both near and longer term I know coet you did um you know increase Opex for the year and if I look at the increase in your purchase commitments and your supply obligations that's also quite bullish on the um uh other hand there's some you know school of thought that not that many customers really seem ready for liquid cooling and I do recognize that some of these racks can be air cooled but Jensen is that something to consider sort of on the shape of how blackw is going to ramp and then I guess when you look Beyond uh you know next year which is obviously going to be a great year and you look into 26 do you worry about any other you know gating factors like say the power supply chain or uh at some point models start to get smaller I'm just wondering if you can speak to that thanks um I'm going to work backwards I really appreciate the question Tim uh so remember the world is moving from general purpose Computing to accelerated Computing and and the world builds about a trillion dollars wor of data centers um you know a trillion dollars wor data centers in a few years will be all accelerated Computing in the past no gpus are in data centers just CPUs in the future every single data center while gpus and the reason for that is very clear because we need to accelerate workloads so that we can continue to be sustainable continue to drive down the cost of computing so that when we do more Computing our we don't experience uh Computing inflation uh second uh we need we need gpus for a new computer model called generative AI that we can all acknowledge uh is going to be quite transformative to the future of computing and so so I think I think um working backwards the way to think about that is is the next trillion dollars of the world's infrastructure will clearly be um different than the last trillion and it'll be vastly accelerated um with respect to to uh the shape of our ramp we offer multiple configurations of uh Blackwell uh black comes in either a you know blackwall classic if you will that uses the hgx form factor that we pioneered uh with uh with VTA and I think it was Volta and so um uh we've been shipping the hgx hgx corn factor for some time it is air cooled I the grace black well um is liquid cooled however the number of data centers that want to go liquid cooled is is quite significant and the reason for that is because we can uh in a liquid cool data center in any data center power limited data center whatever size data center you choose you could install and deploy anywhere from three to five times the AI throughput compared to the past and so liquid cooling is cheaper liquid cooling uh TCO is better and liquid cooling allows you to have the benefit of this capability we call MV link which allows us to expand it to 72 Grace black wall packages which has essentially 144 gpus and so imagine 144 gpus is connected in MV link and that when we're increasingly showing you the benefits of that and the next you know the next click is obviously uh very low latency very high throughput large language model inference and the large mvlink domain is going to be a game Cher for that and so so I think I think people are uh are very comfortable deploying both and so almost every CSP we're working with are deploying uh some of both and so I uh I'm pretty confident that that we'll wrap it up just just fine uh your your second question out of the third is that looking forward yet next year is going to be a great year uh we expect to grow our data center business uh quite significantly next year Blackwell is going to be going to be a a complete game changer for the industry and um uh black wall is going to carry into into the following year and as I mentioned earlier working backwards from first principles uh remember that Computing is going through two platform transitions at the same time and that's just really really important to keep your head on your your mind focused on which is uh general purpose Computing is Shifting to accelerated Computing and human engineered software is going to transition to ctive AI or artificial intelligence learn software okay and your next question comes from the line of Stacy Rasen with Bernstein research your line is open hi guys thanks for taking my questions I have two short questions for collect um the first uh several billion dollars of blackw Revenue in Q4 I is that additive you you said you expected Hopper demand to strengthen in the second half does that mean Hopper strengthens Q3 to Q4 as well on top of Blackwell adding several billion dollars and the second question on gross margin if I have mid mid 70s for the year where I want to draw that if I have 75 for the year I'd be something like 71 to 72 for Q4 somewhere in that range is that the kind of exit rate for gross margins that you're expecting and how should we think about the drivers of gross margin Evolution into next year um as black well ramps and I mean hope hopefully I guess the yields and and and the inventory reserves and everything come up yes Stacey let's first take your uh question um uh that you had about Hopper and Blackwell uh so we believe our Hopper um will continue to grow into the second half we have many new products uh for Hopper our existing products for Hopper that we believe will start continuing to ramp um in the next uh uh quarters including our Q3 and um those new products moving to Q4 so let's say Hopper there for versus H1 is a growth opportunity for that additionally we have the black well on top of that and the Blackwell starting of um ramping in Q4 so hope that helps you on those two pieces uh your second piece is in terms of on our gross margin we provide a growth margin uh for our Q3 we provided our gross margin on a non Gap at about uh 75 um we'll work um with all the different uh transitions that we're uh going through but we do believe we can do that 75 and Q3 we provided that we're still on track for the full year also in the mid 70s or approximately the 75 so we're going to see some slight um uh difference possibly in Q4 um again with our Transitions and the different structures that we have on our new product introductions however I'm not in the same number that you are um there we don't have exactly guidance um but uh I do believe you're lower than where we are and your next question comes from the line of Ben rites with melus your line is open yeah hey um thanks a lot for the question Jensen and clette um I wanted to ask about the geography fe uh there was the 10 q that came out and the United States was down sequentially while uh several Asian geographies were up a lot sequentially just wondering what the Dynamics are there um you know and um obviously China did very well you mention it in your remarks what are the puts and takes and then I just wanted to clarify from Stacy's question um if that means the sequential overall Revenue growth rates for the company accelerate in the fourth quarter given all those favorable Revenue Dynamics thanks let me talk about um a bit in terms of our disclosure in terms of the T Q a required disclosure in uh a choice of geographies very challenging sometimes to uh create that uh right disclosure as we have to come up with uh one key piece pieces in terms of we have in terms of who we sell to Andor specific who we invoice to and so what you're seeing in terms of there is who we invoice that's not necessarily where the product will eventually be um uh and where it may even travel to the End customer these are just moving to our oems or odums and our system integrators for the most part across our product portfolio so what you're seeing there is sometimes just a Swift uh uh shift in terms of who they are using uh to complete their full configuration before those things are going into the data center going into notebooks and those pieces of it uh and that shift happens uh from time to time but yes uh our China number there are inversing to China keep in mind that is incorporating both gaming also data center also Automotive in those uh numbers that we have going back to your statement in regarding gross margin um and um also what we're seeing in terms of uh what we're looking at for Hopper and black well in terms of Revenue copper will continue to grow in the second half um we'll continue to grow from what we are currently seeing during determining that exact mix um in each Q3 and Q4 we don't have here we are not here to guide uh yet in terms of Q4 but we do see right now the demand expectations we do see um the visibility that that will be a growth opportunity in Q4 on top of that we will have our Blackwell architecture and your next question comes from the line of CJ Muse with CER Fitzgerald your line is open yeah good afternoon thank you for taking the question um you've embarked on a remarkable annual product Cadence with with challenges only likely becoming more and more given you know Rising complex complexity and a retical limit Advanced package world so curious you know if you take a step back how does this backdrop alter your thinking around potentially greater vertical integration supply chain Partnerships and and then thinking through consequential impact to your margin Pro profile thank you yeah thanks uh let's see I think the uh the fir well the first the the first answer to your the answer to your first question is that the reason why our velocity is so high is simultaneously because uh the complexity of the model is growing and we want to continue to drive its cost down um it's growing so we want to continue to increase its scale and we believe that uh by continuing to scale the AI models that will reach a a level of of extraordinary usefulness and that would it would um open up I uh realize the next Industrial Revolution we believe it and and so we're we're going to drive ourselves uh really hard to do to to continue to uh uh uh go up that scale um we have the ability uh fairly uniquely to integrate uh to design a um an AI Factory uh because we have all the parts it's not possible to come up with a new AI Factory every year unless you have all the parts and so we have uh next year we're going to ship a lot more CPUs than we've ever had in the history of our company more gpus of course uh but also MV link switches um uh CX uh dpus connectx dpu for East and West uh Bluefield DPS for north and south and uh data and storage processing uh to um inin a band for supercomputing centers to ethernet which is a brand new product for us which is well on its way to becoming a multi-billion business uh to to bring AI to ethernet and so the fact that we could build we have we have access to all of this we have one architectural stack as you know um it allows us to introduce new capabilities to the market you know as we complete it otherwise what happens you ship these parts you go find customers to sell it to and then you've got to build somebody's got to build up an AI Factory and the AI Factory has got a mountain of software and so it's not about it's not about who integrates it we love the fact that our supply chain is disinte at in the sense that we could service um uh you know quanta foxcon HP Dell Lenovo uh super micro I uh we used to be able to serve as ZT um they were recently uh purchased and um uh and so on so forth and so the the number of ecosystem partners that we have uh gigabyte assus the number of ecosystem partners that we have that allows it allows us to allows them to take our architecture which all works but integrated in a bespoke way into all of the world's cloud service providers Enterprise data centers the scale and reach necessary from our odms and our integrators integr integrator supply chain is vast and gigantic because the world is huge and so that part we don't we don't want to do and we're not good at doing and um uh but we know to design the AI infrastructure provide it the way that customers would like it and let the ecosystem integrated um well yeah so anyways that's the reason why and your final question comes from the line of Aaron rakers with Wells Fargo your line is open yes thanks for taking the question I wanted to go back into the the Blackwell product cycle one of the questions that that we tend to get asked is is how you see the the rack scale system mix dynamic as as you think about leveraging MD link you think about GB you know nvl 72 and and how that goto Market you know dynamic looks you know as far as the the blackw product cycle I guess I put distinctly how do you see that mix of rack scale systems as we start to think about the black W Blackwell cycle playing out yeah eron thanks the um the black wall rack system it's designed and architected as a rack but it's sold in a disag in disaggregated system components we don't sell the whole rack and the reason for that is because everybody's rack's a little different surprisingly you know some some of them are ocp standards some of them are not some of them are Enterprise uh and uh the the power limits for everybody could be a little different choice of cdus uh the choice of um uh bus bars the the the configuration and integration into people's data centers all different and so so the way we designed it we architected the whole rack the software is going to work perfectly across the whole rack and then we uh provide the system components like for example the uh CPU and GPU compute uh U board is then integrated into an mgx it's a modular system architecture mgx is is completely ingenious and uh we have mgx odms and integrators and oems all over the planet and so so just about you know any configuration you would like uh where you would like that 3,000lb rack to be uh delivered you know it's got to be close to it's it has to be integrated and assembled close to the data center because is fairly heavy and so everything from the supply chain from the moment that we ship the GPU CPUs uh the switches the Nicks from that point forward the integration is done quite close to the location of the csps and the locations of the the data centers and so you could imagine how many data centers in the world there are and how many Logistics hubs uh We've uh uh scaled out to with our odm partners and so I I think that because we we show it as one rack and because it's always you know rendered that way and and shown that way we we might have left the impression that we're doing the integration our customers hate that we do integration the supply chain hates us doing integration they want to do the integration that's their value added um there's a final design design in if you will you know it's not quite as simple as shimmy into a data center but that design fit in is really complicated and so the install the design fit in the installation to bring up the um uh uh repair uh repair and replace that entire cycle is done all over the world and we have a sprawling network of odm and OEM partners that does this incredibly well so integration is not the reason why we're doing uh racks it it's it's the anti-reason of doing it um the way we don't want to be an integrator we want to be a a technology provider and I will now turn the call back over to Jensen Hong for closing remarks thank you let me make a couple more make a couple of comments that I made earlier again the data center worldwide are in Full Steam to modernize the entire Computing stack with accelerated Computing and generative AI Hopper demand remains strong and the anticipation for blackw is incredible let me highlight the top five things the top five things of our company accelerated Computing has reached the Tipping Point CPU scaling slows developers must must accelerate everything possible accelerated Computing starts with Cuda X libraries new libraries open new markets for NVIDIA we've released many new libraries including could accelerated polers pandas and Spark the leading data science and data processing libraries CVS for Vector Pro Vector databases this is incredibly hot right now Ariel and chiona for 5G wireless base station a whole Suite of a whole world of data centers that we can go into now parir bricks for Gene sequencing and Alpha 2 for protein structure prediction is now C accelerated we are at the beginning of our journey to modernize a trillion dollar worth of data centers from general purpose Computing to accelerated Computing that's number one number two Blackwell is a step function leap over Hopper Blackwell is an AI infrastructure platform not just a GPU also happens to be in the name of our GPU but it's an AI infrastructure platform as we reveal more of Blackwell and sample systems to our partners and customers the extent of Blackwell's lead becomes clear the Blackwell Vision took nearly 5 years and seven one-of-a-kind chips to realize the gray CPU the Blackwell dual GPU and a Coos package connectx dpu for East West traffic blue field dpu for north north north south and storage traffic mvlink switch for all to all GPU Communications and Quantum and Spectrum X for both infin ban ethernet can support the massive Bur traffic of AI Blackwell AI factories are building siiz computers Nvidia designed and optimized the Blackwell platform full stack end to end from chips systems networking even structured cables power and Cooling and mountains of software to make it fast for customers to build AI factories these are very Capital intensive infrastructures customers want to deploy it as soon as they get their hands on the equipment and deliver the best performance and TCO Blackwell provides three to five times more AI throughput in a power limited data center than Hopper the third is MV link this is a very big deal with its all to all GPU switch is game-changing the Blackwell system lets us connect 144 gpus in 72 gb200 packages into one MV l with an aggregate aggregate MV link bandwidth of 259 terabytes per second in one rack just put that in perspective that's about 10 times higher than Hopper 259 terabytes per second kind of makes sense because you need to boost the training of multi-trillion parameter models on trillions of tokens and so that natural amount of data needs to be moved around from GPU to GPU for inference MV link is vital for low latency High throughput large language model token generation we now have three networking platforms MV link for GPU scale up Quantum infiniband for supercomputing and dedicated AI factories and Spectrum X for AI on ethernet MBS networking footprint is much bigger than before generative AI momentum is accelerating generative AI Frontier Model makers are racing to scale to the next AI Plateau to increase model safety and IQ we're also scaling to understand more modalities from text images and video to 3D physics chemistry and biology chatbots coding AIS and image generators are growing fast but it's just a tip of the iceberg internet services are deploying generative AI for large scale recommenders add targeting and search systems AI startups are consuming tons of billions of dollars yearly of csp's cloud capacity and countries are recognizing the importance of AI and investing in Sovereign AI infrastructure and Nvidia Ai and Nvidia Omniverse is opening up the next era of AI General Robotics and now the Enterprise AI wave has started and were poised to help companies transform their businesses the Nvidia AI Enterprise platform consists of Nemo Nims Nim agent Blueprints and AI Foundry that our ecosystem Partners the world leading it companies Ed to help customer C companies customize AI models and build bespoke AI applications Enterprises can then Deploy on Nvidia AI Enterprise runtime and at $4,500 per GPU per per year Nvidia AI Enterprise is an exceptional value for deploying AI anywhere and for nvidia's software Tam can be significant as the Cuda compatible GPU install base grows from Millions to tens of millions and as Colette mentioned Nvidia software will exit the year at a $2 billion run rate thank you all for joining us today and ladies and gentlemen this concludes today's call and we thank thank you for your participation you may now disconnect ladies and gentlemen that concludes the call and that also concludes the live stream because I am absolutely exhausted thank you so much for joining Nvidia down a little bit over 6% recovering off for that 115 base that we marked out during the call um overall very strong numbers record revenues record profits uh strong growth year-over-year uh some comments I mean several comments on Blackwell on accelerated gpus on the overall addressable Market well over ailon dollars so all of that I will I promise I will digest I will synthesize all of that and we'll break that down in our video on Nvidia stock that's going to be coming out later uh but down a little bit over 6% we'll see what happens tomorrow and on Friday uh my put strikes are 108 and 105 I'll update everybody on Discord tomorrow if you want to get access Link's going to be down below please make sure that you subscribe to the channel I would really appreciate that if you haven't already let's get up to over 83,000 fairly soon here and also do check out the links below if you want to access our Discord and all of our community channels as well so thank you so much for joining everyone hope you all have a fantastic day um and again hope it was fun we had a we had a lot of fun together over the last two hours so once again thank you so much for joining and again Link's going to be down below if you want to check out all the other um Discord channels and everything else so thanks