factual
Hyperscaler GPU demand is mostly external customers
Although the top five hyperscalers are 60% of Nvidia's revenue, most of that business serves external customers (e.g., most Nvidia capacity in AWS, Azure, and all of OCI is for external customers, not internal use), because Nvidia's reach brings the cloud providers a large base of AI companies built on Nvidia.
factualpending
Speaker
Jensen HuangEvidence Quote
“Most of our customers at Azure, obviously all of our customers are external. All of our customers at OCI are external, not internal use.”
Source
Dwarkesh Patel Podcast - Jensen Huang – TPU competition, why we should sell chips to China, & Nvidia’s supply chain moat— Dwarkesh Patel PodcastCreated: 6/13/2026, 3:37:32 AM
My Notes
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