NVIDIA Corporation (NASDAQ:NVDA) Morgan Stanley Technology, Media & Telecom Conference March 5, 2025 3:20 PM ET
Company Participants
Colette Kress – EVP & CFO
Conference Call Participants
Joseph Moore – Morgan Stanley
Joseph Moore
Great. Welcome back, everybody. I’m Joe Moore, Morgan Stanley Semiconductor Research. Very happy to have with us today. Really, the highlight of the conference NVIDIA’s CFO, Colette Kress. Thank you so much for being here. I think you want to read a Safe Harbor before we start.
Colette Kress
I do. As a reminder, this presentation contains forward-looking statements, and investors are advised to read our reports filed with the SEC for information related to risks and uncertainties facing our business.
Question-and-Answer Session
Q – Joseph Moore
I guess, I’ll read ours too. For important disclosures, please see the Morgan Stanley research disclosure website at morganstanley.com/researchdisclosures. If you have questions, please reach out to your sales rep.
Anyway, that out of the way, so thank you so much for being here. There’s — we could take three hours, if we had it. But I want to talk about AI, demand drivers, products, supply chain, export controls, and margins kind of in that sequence. So maybe just starting with demand, you had a really good quarter, you grew 18% sequentially in data center for a quarter where the majority of your revenue was Hopper.
And Blackwell had been delayed a couple of times in different forms and it’s clearly kind of a higher ROI — and you’re still selling a lot of Hoppers. So it seems to me that that’s a pretty strong indication of demand, there’s no reason to pull forward products like that. It seems like you have a very strong demand profile. Can you just talk to that? How did you have a quarter like that when Blackwell wasn’t yet doing
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