NVDA · 10-Q · 2026Q3 · Full report
Customer Concentration and Channels
NVIDIA CORP · 2026-08-26 · Importance 44 · Surprise 24 · In source text
NVIDIA sells directly to AIBs, distributors, ODMs, OEMs, cloud service providers, AI model makers, and system integrators, while indirect customers include AI clouds, enterprises, and public-sector entities. One direct customer represented 16% of total revenue in the second quarter of fiscal 2027, primarily within Compute & Networking; three direct customers represented 16%, 15%, and 13% in the first half. Indirect customers primarily purchase through system integrators and distributors, and one AI research and deployment company contributed a meaningful amount of revenue through cloud services purchased from NVIDIA’s customers. The concentration of direct and indirect customers remains significant and may continue.
Key facts
- One direct customer represented 16% of total revenue in the second quarter of fiscal year 2027, primarily attributable to the Compute & Networking segment; in the first half three direct customers represented 16%, 15%, and 13% of total revenue respectively. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | contingent | — | One direct customer represented 16% of total revenue in the second quarter of fiscal year 2027, primarily attributable to the Compute &… |