- Nvidia Data Center calculate income for the first time in ten years
- The increase in network sales as the calculation slows down, while China’s restrictions create additional pressure
- The dependence of three clients suggests the vulnerability of NVIDIA despite record general income
It would be forgiven for thinking that the meteoric increase in NVIDIA has made it practically bulletproof, but the data of the second quarter of fiscal year 2026 show that the chips giant data center calculates the decrease in income for the first time in a decade.
The fall, although small, marks a potential inflection point for the company that has led the rise of artificial intelligence hardware.
Nvidia once again reported record income in general, but a graph shared by The next platformIt hints at a worrying plateau that begins to form in the computing business of the main data center of Behemoth.
There is no need to panic … still
The slide (which can be seen above) showed that GPU and CPU sales that support the NVIDIA AI infrastructure fell 0.9 percent compared to the previous quarter.
That is not a great fall, but it is remarkable since it is the first sequential decrease since the calculation of the data center became the main source of growth in Nvidia.
The income of the networks tells a different story, with Infiniband Networking almost duplicating, and Ethernet and other interconnections that also show great profits.
The combined network segment delivered revenues of $ 7.25 billion during the quarter of July, suggesting that customers are channeling more expenses on interconnections that link the AI groups on scale.
This change occurs when the export restrictions to China have already reduced expected computer sales, creating more pressure on Nvidia leadership.
Executive President Jensen Huang insisted during the earning call that fiscal year 2026 and 2027 will remain record years, but the curve in the data center table remains a concern.
Another concern is the company’s dependence on a small number of customers, which we report previously.
More than half of the data center revenues now come from only three customers without a name, and one represents more than 20% of sales.
The report highlighted $ 9.5 billion from the client A, $ 6.6 billion of customer B and $ 5.7 billion of customer C in the most recent quarter.
GPU sales growth has promoted Nvidia transformation into one of the world’s most valuable companies, but history shows that expansion curves eventually have to level.
Huang has argued that 50 percent growth in the calculation of the data center can continue for years, but market realities can force slower trajectories.
For now, the demand of Nvidia Blackwell GPU is still solid, and according to the reports, the supply was exhausted in the next year.
The company continues to prepare new platforms, but the income plateau suggests that Nvidia domain may be entering a more uncertain phase.
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