NVDA Just Posted USD 81.62 Billion in a Single Quarter. Here's What I'm Doing With My Position.

USD 81.62 billion in revenue. In one quarter.

For context: twelve months ago NVDA was doing roughly USD 26 billion per quarter. The company has more than tripled its quarterly output in a year. The USD 80 billion buyback authorization is the largest in semiconductor history. The dividend raise was meaningful.

This is what a compounder running at full speed looks like.

I've held NVDA for a while and haven't sold a share. Results like this confirm why. Data centre demand isn't tapering. The Anthropic-SpaceX compute deal disclosed this week — USD 1.25 billion per month in spending — tells you exactly where AI infrastructure capex is going. NVDA sits at the centre of that pipeline.

Three things I'm watching on the earnings call:

Gross margin guidance. NVDA has guided conservatively on margins every quarter and consistently beaten. If that pattern holds into Q2, the USD 80B buyback gets accretive faster than the market is pricing.

Blackwell production ramp. This is the real tell. Capacity-constrained = pricing power intact. Demand pulling forward = hyperscaler AI capex accelerating even beyond current estimates.

Competition signals. AMD and Intel are trying. Neither is close on the software stack. I don't see a credible threat within 18 months.

At current prices NVDA is not cheap on a historical P/E basis. But for a company growing at this pace with a defensible moat and an USD 80 billion buyback underpinning the share price, I'm comfortable holding my full position. I'm not adding here — I prefer dips — but this isn't a name I'm touching on the sell side.

Ten years from now, I believe NVDA will be worth significantly more. Quarters like this don't shake that view. They reinforce it.