NVIDIA Corporation
NVDAQ2 2024(NVDA Q1 FY2025)Derived74.5% AI
AI Revenue %
74.5%
AI Fair Value
$2.91T
AI Revenue (Q)
$29.3B
Total Revenue (Q)
$39.3B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Starting this quarter, NVIDIA breaks out Data Center into Compute ($19,392M) and Networking ($3,171M) sub-lines. Total Data Center = $22,563M out of $26,044M total (86.6%). The Compute sub-line ($19,392M) is the purest proxy for Ring 1 Core AI revenue -- it represents GPU accelerators (H100, H200), DGX systems, HGX platforms, and AI software used for AI training and inference. This is essentially all Ring 1 Core AI. $19,392M / $26,044M = 74.5%. Networking ($3,171M) is Ring 3 (InfiniBand/Spectrum-X supports AI but is not itself AI).
Analyzed by claude-opus-4-6
Quoted Figures
Data Center $22,563M (Compute $19,392M, Networking $3,171M); Gaming $2,647M; Professional Visualization $427M; Automotive $329M; OEM and Other $78M; Total $26,044M
10-Q filed for Q ended Apr 28, 2024, Note 14 Segment Information, Revenue by Specialized Markets
Compute & Networking segment revenue $22,675M; Graphics segment revenue $3,369M
10-Q filed for Q ended Apr 28, 2024, Note 14 Segment Information
Sales to one direct customer, Customer A, represented 13% of total revenue and sales to a second direct customer, Customer B, represented 11% of total revenue for the first quarter of fiscal year 2025, both of which were attributable to the Compute & Networking segment.
10-Q filed for Q ended Apr 28, 2024, Note 14 Segment Information
AI Products Identified (Ring 1)
H100H200DGX H100HGX H100NVIDIA AI EnterpriseDGX CloudGrace Hopper
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Automotive AI Cockpitautonomous driving development agreementsDRIVE platform
Confidence Tier
DerivedCalculated from reported segments primarily serving AI