Overview

• Nvidia reported fiscal Q2 revenue of $46.7 billion, up 56% year over year, with its Data Center segment contributing about 88% of sales.
• Sales to “Customer A” and “Customer B” represented 23% and 16% of quarterly revenue, and four additional direct customers accounted for 14%, 11%, 11% and 10%, according to the filing.
• The company classifies these major purchasers as direct customers such as OEMs, system integrators or distributors, which indicates large cloud platforms typically appear as indirect end users.
• CFO Colette Kress said large cloud service providers made up roughly half of Data Center revenue, reinforcing the central role of cloud-driven AI demand.
• Analysts flagged the concentrated customer mix as a material risk, even as outside estimates from Sherwood suggested three buyers drove nearly 53% of Data Center revenue, a breakdown not confirmed by Nvidia.