NVIDIA CFO Hints at Potential $5 Billion H20 China Revenue Amid "Gigawatts" of Vera Rubin Chip Demand

NEW YORK – NVIDIA's Chief Financial Officer, Colette Kress, has projected a potential revenue boost of up to $5 billion from H20 AI GPU sales to China in the third quarter of 2025, contingent on the resolution of geopolitical tensions. Speaking at the Goldman Sachs Communacopia + Technology Conference, Kress also dismissed concerns about custom AI chip competition, asserting NVIDIA's focus on high-performance, power-efficient data center solutions.

Kress confirmed that NVIDIA has secured licenses for H20 shipments to several key customers in China. However, she noted that a "geopolitical situation" between the U.S. and Chinese governments is currently impeding the recognition of this revenue. "We believe there's a strong possibility that this [the China H20 shipments] will occur," Kress stated, indicating the company's optimism despite the ongoing complexities.

The CFO emphasized the company's robust data center performance, reporting a 12% sequential growth in the second quarter, with a target of 17% growth for the third quarter. This growth is largely driven by the successful scaling of NVIDIA's GB200 and GB300 Ultra network racks. Kress highlighted the "seamless transition" and "amount of scale and volume we were actually able to put into market."

Addressing recent market discussions following Broadcom's announcement of a $10 billion custom AI chip contract, Kress firmly rejected the notion that custom AI chips pose a significant threat. She underscored the critical role of power in AI computing, stating, "That wattage is such an important thing." NVIDIA's strategy focuses on creating data center-scale solutions that are "most performant but the most performant per watt and the most performant per dollars."

Looking ahead, Kress revealed significant future demand for NVIDIA's next-generation Vera Rubin AI chips. She stated that the company has "already had discussions to where we probably will see several gigawatts needs for our Vera Rubin" even before the chips are ready for market. Kress affirmed that "Rubin is on a path and that one-year cadence is going to be a journey we're ready to take on with Rubin. So Vera Rubin, six chips, all of them taped out." This indicates an unprecedented scale of demand for the upcoming architecture.