3 hyperscalers control 50% of Nvidia's revenue

Amazon, Google, and Microsoft are simultaneously developing competing chips. The risk is escalating.

A structural vulnerability is emerging that few investors are discussing. Nvidia derives approximately 50% of its expected $49.3 billion quarterly data center revenue from just three customers—and all three are now building proprietary processors to compete directly.

This customer concentration risk converges with Wednesday’s earnings at the worst possible moment. The technology sector has retreated 7% from peak levels, and sophisticated institutional players are exiting aggressively. Access the full analysis now.

-Christopher

P.S.: Chris Murphy at Susquehanna warns this is “the single most important earnings report for overall market direction.” Don’t miss this critical insight.