Aug. 29 at 2:55 AM
$NVDA $QQQ $SPY $NVD $NVDS
Amazing media does cover it….
Nvidia’s Q2 Data Center revenue was
$41B, and two customers made up 44% of that. These are almost certainly Microsoft, Amazon, or Google.
People don’t talk about it much because headlines focus on “booming AI demand,” and investors assume hyperscalers will keep buying. But the reality is:
• Concentration risk: If one of these giants slows spending or shifts to in-house chips, Nvidia’s revenue takes a big hit.
• Customer power: With so much leverage, these few buyers can negotiate better prices.
• Optics vs reality: Demand sounds broad, but most of it is clustered in just a handful of tech giants.
👉 Nvidia looks unstoppable, but half its growth depends on just two companies.
