Mandeep Singh

And all this points towards more inferencing, more demand for AI compute.

And we are hitting that phase where it's not just about training or whether it will happen or not.

It's happening.

So the ROI, the usage, right?

We're seeing it.

The usage is happening and companies are consuming the compute.

It's going to get reflected in the cloud revenue next quarter.

It's going to get reflected in all the possible forms of where inferencing will show up.

I mean, it used to be, China used to be mid single digit percentage of Nvidia's overall data center revenue.

And Jensen has said China is about a $50 billion addressable market when it comes to chips.

And so the fact that they're allowed to sell something now to China,

Doesn't mean it's going to grow at the same rate as their overall top line, which is 77%, and that excludes the China number.

But it's all incremental revenue.

And this print shows there is just insatiable demand for NVIDIA's chips.

And whoever can get it will buy it.

So it's just a question of whether NVIDIA is willing to sell it to them or not.

NVIDIA is actually selling to their customers entire systems that have higher ASPs.

They are helping them reduce the token costs, and that's where the customers don't mind paying that extra premium that NVIDIA is charging, because overall, the total cost of ownership is lower than if you were to standardize on any other chips.

the data center revenue and how much upside can they get from the China market.

And then the hyperscale CapEx changes that we have heard, most of them have given a better than expected outlook on their CapEx increases.