Five thoughts on Nvidia’s quarter — and what it means for enterprise IT buyers

Nvidia Corp. delivered another mind-boggling quarter Wednesday. Total revenue reached $96 billion, up more than 100% year over year, with data center revenue at $89 billion and a third-quarter guide of $108 billion. More striking than the quarterly numbers was the guidance Chief Financial Officer Colette Kress dropped midway through the call: Fiscal 2028 revenue should grow roughly 70% — and that is a supply-constrained figure. Customer forecasts, she said, “point to our growth doubling next year.” Kress framed the quarter by explaining: “The surge in AI demand is driving a global infrastructure buildout, supported by an expanding and diverse set of growth opportunities spanning hyperscalers, AI labs, AI natives, enterprises and sovereign customers.” That gap between roughly 100% demand and roughly 70% supply is the single most important fact for enterprise information technology leaders to internalize this quarter. Everything else, including pricing, lead times, architecture choices, even the reported Hugging Face acquisition, flows from it. Here are five thoughts on the quarter and what they mean if you buy, budget for, or operate infrastructure. 1. Supply is the ceiling, and that changes how you procure For two years, the industry has treated the artificial intelligence trade as a demand…