Nvidia Relies on Three Clients for Over Half of Data Center Revenue

Nvidia’s record-breaking second-quarter earnings for 2025 revealed a growing dependence on a small number of customers. According to Sherwood, nearly 53% of the company’s data center revenue, around $21.9 bn, came from just three unnamed clients.

The breakdown shows $9.5 bn in sales from «Customer A,» $6.6 bn from «Customer B,» and $5.7 bn from «Customer C.» Nvidia’s total quarterly revenue was $46 bn, meaning one customer alone accounted for more than 20% of its sales.

While investors remain bullish on Nvidia’s AI leadership, analysts warn that such heavy reliance poses risks if any of these clients reduce orders, shift to competitors, or develop in-house solutions.

Industry speculation points to xAI, OpenAI, Oracle and Meta as likely among Nvidia’s top buyers, given their large-scale AI data center projects.

Despite trade restrictions with China, Nvidia’s reliance on these key clients has helped sustain its rapid growth, though experts caution that concentration risks could unsettle future performance.

Kursiv Uzbekistan also reports the «Yuksalish» movement has announced the Top 30 specialists in Uzbekistan advancing the field of artificial intelligence (AI) and achieving significant success in research, business, and technology.