Nvidia filed its first quarter 10-Q and set off the customer guessing game.
Nvidia counts two types of customers. A direct customer is an original equipment manufacturer, system integrator, original device manufacturer and distributors. The other type of customer is indirect and buy through direct customers. Indirect customers are public cloud providers, consumer internet companies, enterprises, public sector and startups.
In the filing, Nvidia said one direct customer was 13% of revenue in the first quarter and another direct customer was 11% of sales. If I'm going to guess, I'm thinking Dell Technologies and Supermicro are in the running with perhaps HPE in the mix somewhere. It's obvious that Nvidia and Dell are tight partners.
Two indirect customers were 10% or more of total first quarter revenue each. This cohort could be a bevy of players, but my two favorite guesses would be Microsoft and Facebook. Other big indirect customers could include AWS, CoreWeave, which has raised billions of dollars in funding, and maybe Google or Oracle.
Nvidia also noted that one of the two indirect customers bought through the second direct customer that was 11% of sales.
The company's first quarter revenue was $26 billion.
