Nvidia reported stellar results for the recent quarter, logging record revenue of $57 billion, up 62 percent year-over-year and 22 percent from Q2. “Blackwell sales are off the charts, and cloud GPUs are sold out,” Nvidia founder and CEO Jensen Huang told investors, saying “we’ve entered the virtuous cycle of AI,” with “more new foundation model makers, more AI startups across more industries, and in more countries.” The results quieted fears about an AI bubble. But there was some drama as Nvidia disclosed there is “no guarantee” of finalizing a previously announced $100 billion investment in OpenAI.

The comment in Nvidia’s quarterly 10-Q financial report “serves as an important reminder that there’s a big difference between an announcement and a contract,” reports CNBC, reminding readers that two months ago Huang and OpenAI CEO Sam Altman “stood side by side in San Jose, California, to announce [the] historic agreement.”

Nvidia, valued at $4.39 trillion as of Thursday, has gotten some blow back recently for “financially supporting companies that buy its graphics processing units, or GPUs,” as characterized by CNBC — prompting fearful investor speculation the chip giant could be propping up the market.

But The Wall Street Journal writes that the record sales and strong forward-looking guidance is “helping soothe jitters about an artificial intelligence bubble that have reverberated in markets for the last week.”

WSJ notes in a separate article that the “AI jitters are premature,” and that a recent Nvidia sell-off — including $5.8 billion unloaded by SoftBank and an estimated $100 liquidated by Palantir’s Peter Thiel — “has made the $4.5 trillion company look cheap.”

The Guardian reports that investor Michael Burry, made famous from “The Big Short,” announced he was shorting Nvidia and Palantir before closing his Scion Asset Management earlier this month.

Huang remains bullish, stating in a news post that “compute demand keeps accelerating and compounding across training and inference — each growing exponentially” in support of an AI ecosystem that is “scaling fast” globally. He has the numbers to back him up, with nearly $32 billion in quarterly profit, a 65 percent increase over the same period the year prior.

While Nvidia has the funds to complete its multi-year investment in OpenAI, the company is walking a fine line between opportunity and “artificial industrialization.”

“An OpenAI spokesperson didn’t provide a comment but pointed to Huang’s statements” on the investor call, “including his description of OpenAI as a ‘once-in-a-generation company’ and his expectation that the investment will ‘translate to extraordinary returns,’” CNBC reports.

In addition to earmarking $100 billion for OpenAI, CNBC said “Nvidia on Wednesday highlighted its $5 billion commitment to invest in Intel during the quarter and its agreement this week to invest up to $10 billion in Anthropic” as part of a strategic move with Microsoft.

Related:
How Trump and Nvidia’s CEO Became Partners on the International Stage, The New York Times, 11/19/25
Elon Musk’s xAI Will Be First Customer for Nvidia-Backed Data Center in Saudi Arabia, CNBC, 11/19/25