NVIDIA dominates the AI sector with record margins
, by Quentin
According to Morgan Stanley Research, NVIDIA's Blackwell GB200 GPUs deliver the best AI performance, with a profit margin of 77.6% in 100 MW farms, representing an estimated profit of around $3.5 billion.
Google follows with its TPU v6e (74.9%), then AWS (62.5%). Conversely, AMD lags far behind: its MI355X chips have a negative margin of -28.2%, and the MI300X chips even fall to -64%. In terms of hourly revenue, NVIDIA peaks at $7.5 per chip, compared to a meager $1.7 for AMD.
The gap is mainly due to the CUDA ecosystem and FP4 support, which allow NVIDIA to continuously optimize its GPUs. However, AMD is preparing its MI400 for 2026 to compete with Rubin, NVIDIA's next generation.
Source: wallstreetcn.com