Nvidia , the red-hot chipmaker that sells advanced processors to enable artificial intelligence technology, may have a customer bigger than anyone else. That could be Microsoft , UBS speculated in a note. The Wall Street bank pored over Nvidia's filings and estimated that Microsoft was its largest indirect customer, contributing to 19% of Nvidia's revenue in fiscal year 2024.
Nvidia sales have skyrocketed as companies such as Google-parent Alphabet, Microsoft, Meta , Amazon and OpenAI buy billions of dollars of Nvidia's graphics processing units, which are advanced and pricey chips required for developing and deploying AI applications. The Jensen Huang-led chipmaker's incredible run is showing no signs of stopping with the stock up another 130% year to date and edging closer to a $3 trillion market cap.
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