NVIDIA Reports Record Quarter Over Quarter Growth Driven by Massive Demand for Blackwell AI Systems
NVIDIA has delivered another extraordinary financial milestone, reporting a fifty seven billion dollar quarterly revenue for Q3, representing a twenty two percent quarter over quarter increase and reaffirming its position at the center of the global AI compute boom. Despite broader industry discussions about an impending “AI bubble,” NVIDIA’s earnings indicate the opposite, with CEO Jensen Huang confirming unprecedented demand for the company’s Blackwell platforms. NVIDIA expects the momentum to carry into Q4 FY2026, projecting sixty five billion dollars in revenue.
NVIDIA CEO Jensen Huang on record Q3 FY26 results. pic.twitter.com/aq5ACwLTXQ
— NVIDIA Newsroom (@nvidianewsroom) November 19, 2025
During the earnings call, Huang emphasized that AI compute demand is accelerating at a pace aligned with what he described as three fundamental scaling laws that govern modern AI development, pushing global compute requirements to new heights. Data center and AI products continue to drive the company’s performance, supported by rapid adoption of Blackwell based systems across hyperscalers, sovereign AI programs, and enterprise customers.
The only soft spot in the report was the gaming division, which saw a modest one percent quarter over quarter decline in consumer GPU sales. NVIDIA attributed this to seasonal normalization of channel inventory, although the Q3 to Q4 period typically sees stronger gaming hardware activity due to holiday sales and upgrade cycles. Even so, gaming revenue rose thirty percent year over year, indicating sustained market strength despite the small sequential dip.
During the earnings discussion, one major question resurfaced: how exactly does NVIDIA plan to reach the five hundred billion dollar revenue target Jensen Huang publicly projected for 2026 at GTC Washington. CFO Colette Kress addressed the topic directly in the Q3 earnings call.
“We are working into our five hundred billion dollar forecast. And we are on track for that as we have finished some of the quarters, and now we have several quarters in front of us to take us through the end of calendar year twenty six. The number will grow. And we will achieve additional needs for compute that will be shippable by fiscal year twenty six.”
Much of this trajectory is expected to be driven by Rubin, NVIDIA’s next generation platform, which is projected to see significantly higher customer adoption than both Hopper and Blackwell. Major sovereign AI investments, including large scale orders such as the reported four hundred thousand to six hundred thousand GPU commitments from Saudi Arabia, further bolster NVIDIA’s confidence in achieving this ambitious multi year target.
NVIDIA also noted that the Q3 revenue figures do not include contributions from its sizeable customer base in China due to regulatory constraints, meaning its current performance is almost entirely driven by expansion among hyperscalers, cloud service providers, and AI companies such as OpenAI. This underscores the strength of global demand in the broader AI infrastructure ecosystem, independent of the Chinese market.
While skeptics question the sustainability of the AI surge, NVIDIA remains firmly convinced that its quarterly revenue will continue to scale upward at a rapid pace. With Blackwell in mass deployment, Rubin on the horizon, and AI compute demand continuing to escalate across both enterprise and sovereign infrastructure, Team Green sees a clear trajectory of growth extending well into 2026 and beyond.
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