NVIDIA CORP

NVIDIA is a fabless semiconductor and systems company that designs graphics processing units (GPUs) and AI accelerators and packages them with networking and software platforms. Its core model sells high-performance chips, complete systems and developer software to cloud providers, OEMs, enterprises and gamers, generating revenue primarily from product and platform sales and related services.^[1]

Business Segments

• Compute & Networking — data‑center GPUs, AI accelerators, networking (InfiniBand/Ethernet), DGX systems and related software; represents the large majority of consolidated revenue (roughly mid‑to‑high‑80s % of reported revenue in company filings).^[2]
• Graphics — GeForce gaming GPUs, professional visualization/RTX workstation products, GeForce NOW streaming and related software; typically a low‑double‑digit share of revenue.^[2]
• Other / corporate — software platforms, licensing, automotive/embedded (Jetson) and unallocated corporate items; smaller contribution relative to the two reportable segments.^[2]

Competitive Position

• Platform and ecosystem moat — a large installed base for CUDA and mature software tools creates strong developer lock‑in and accelerates adoption for AI workloads.^[3]
• Scale and customer concentration — leading share in high‑end GPUs and deep relationships with hyperscalers, cloud providers and OEMs give pricing power and high volume leverage.^[4]

Investment Considerations

• Structural growth opportunity — secular demand for AI training/inference and high‑performance computing supports long‑term addressable market expansion across data center, enterprise and edge.^[3]
• Supply‑chain and geopolitical risk — reliance on external foundries and concentrated Asia‑Pacific manufacturing can create exposure to capacity constraints, export controls and trade measures.^[2]
• Customer and product concentration — a meaningful portion of revenue can come from a limited number of large customers and a few product families, which can amplify revenue volatility.^[2]
• Competitive and execution risks — competition from integrated cloud providers and other silicon designers, plus the need to sustain R&D and manufacturing partnerships, are core execution challenges investors should monitor.^[2]