nvidia has become world's most valuable company On the strength of AI chips, the company is leaving behind Microsoft and Apple, and in today's Q3 2025 earnings, the company suggested that its record AI revenues and profits are only the beginning.
Whereas Information recently reported that it's new Flagship Blackwell AI Server There may be cooling issues, the company did not address this on today's call — instead, Nvidia assured investors that Blackwell is in “full production,” is “full steam ahead,” and the company will be delivering more chips each. Quarter out from here.
Nvidia has already shipped 13,000 Blackwell samples to its customers this quarter, said CFO Colette Cress, and Nvidia CEO Jensen Huang claimed that Blackwell's success as a result could already be measured in the billions. “As you can see with all systems in place, Blackwell is in good shape,” Huang told investors.
While Nvidia has long been known as a graphics and gaming company, a leader in GPUs, its data center fortunes now outstrip its other businesses by orders of magnitude. Gaming is now only a $2-3 billion business each quarter for Nvidia, but its AI-infused data centers brought in $30.7 billion last quarter, the bulk of its $35 billion quarterly revenue.
Much of this is also net profit for Nvidia: $14.8 billion in Q1, $16.6 billion in Q2, and now $19.3 billion in Q3. (Although Microsoft and Apple made profits of $24.7 billion and $21.4 billion, respectively, last quarter.)
In practical terms, this means there's substantial overlap between each new generation of chips as businesses order them and stick them into data centers. Although Blackwell is Nvidia's latest and greatest, Nvidia says so today H200 was announced last year In fact it is the fastest selling product ever, with its price increasing by several billion dollars in the last quarter.
Nvidia's H100 was its original winning AI product, though it took longer to see its current success; Huang says the company expects demand for its H-series chips to continue through most of next year.