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Two Nvidia Customers amounted to 39% of Nvidia’s income in July, the company revealed in financial supply Wednesday is concerned about the concentration of customers.
“Customer A” made 23% of the total income, and “client B” was 16% of the total income, reports the submission of the company in the second quarter of the company for securities and exchanges.
This is higher than in the same quarter a year ago when the two best Nvidia customers were 14% and 11% of sales, the application said.
The company quarterly regularly publishes information about its leading customers, but this week’s disclosure calls for a new discussion on whether Nvidia’s explosive growth is caused by several major cloud providers such as Microsoft. Amazon. Google and Oracle.
In a statement on Wednesday, the Nvidia Finance Head said that “large cloud services providers” accounted for about 50% of the company’s processing centers. This is important because the business center of data processing was 88% of the Nvidia total income in the second quarter.
“We have survived periods when we receive a considerable amount of our income from a limited number of customers, and this trend can continue,” Nvidia wrote.
Increasingly, analysts are looking for these obligations for cloud capital costs to model the future Nvidia growth.
“We see a limited opportunity for further profit in revision or catalyst for stock prices in the near future, if we do not increase clarity in 2026 (cloud service provider) Capex expectations,” HSBC analyst Frank Lee wrote on Thursday. He has a stock rating.
But customer A and client B Nvidia are not necessarily a cloud suppliers. This is a little secret, and the NVIDIA representative refused to share customer A and customers B.
In its submission, Nvidia states that it has both “direct customers” and “indirect customers”. Customer A and client B are designated as “direct customers”.
Immediate customers are not the end users of Nvidia chips. These are companies that buy chips to embed complete systems or boards they then sell at the data center, cloud and end users providers. Some of these immediate customers are original design manufacturers or original manufacturers such as Foxconn or Quanta. Others are distributors or system integrators such as Dell.
Meanwhile, indirect customers include cloud services, online companies and businesses that usually buy systems from Nvidia direct customers. Nvidia states that it can only evaluate profits for indirect customers based on purchase orders and internal sales data.
The sewer, if any of these cloud providers is a mysterious NVIDIA client, partly because the chips maker has a room in the definitions of its direct and indirect customers.
For example, Nvidia has written in the submission that some direct customers buy chips to create systems for their own use.
In addition, Nvidia noted that two of its indirect customers made up more than 10% of the total income, primarily buying systems through A and B customers.
By contributing to the mystery of all this, Nvidia stated that the “II research company” made a significant amount of income through direct and indirect customers.
On Wednesday, NVIDIA told investors that the demand for AI systems companies remains high not only among cloud providers, but also among other types of customers, including enterprise purchase systems for AI and “NeoCloud”, which are companies that take over the largest suppliers with services that are more tuned on AI. Nvidia also listed foreign governments, saying that this year it looked at $ 20 billion for “sovereign II”. All of these products contribute to Nvidia’s revenue growth, Kress said analysts at a profit call.
Nvidia Jensen Huang also said the company has a new forecast from $ 3 to $ 4 by the end of the decade. It states that it can take about 70% of the total cost of $ 50 billion, not only for its graphics processing units, but also for other chips it sells.
According to Juan, Juan told investors that this is a reasonable goal over the next five years, with how many hypers spent and spending – $ 600 billion. He also said that new types of customers such as businesses or foreign providers join the assembly.
“As you know, Capex has only doubled in the fourth Hyperscalers when the AI Revolution went into full,” Juan said.
