Key Quotes from NVDA's 3Q 2023 conference call

"We've done a really solid job of ramping every quarter, which has defined our revenue. But with the absence of China for our outlook for Q4, sure, there could have been some things that we are not supply-constrained that we could have sold, but kind of we would no longer can."

"You're also seeing us now growing into enterprise. The enterprise market has two paths... The first path, of course, just off-the-shelf AI... There's also a proprietary AI, because software companies like ServiceNow and SAP... can't afford to have their company's intelligence be outsourced to somebody else."

"And these platforms just got to go across the world and you'll see and we've only announced a few; SAP, ServiceNow, Dropbox, Getty, many others are coming... They want their own proprietary AI. They can't afford to outsource their intelligence and handout their data, and handout their flywheel for other companies to build the AI for them."

"The team recently announced a more aggressive new product cadence in data center from two years to now every year with higher levels of segmentation, training, optimization in printing CPU, GPU, DPU networking."

"There is a fundamental reason why we accelerate our execution. And the reason for that is because it fundamentally drives down cost... mostly it's because of our software, mostly the software benefits because of the architecture."

"The way that we access data is changed. It used to be based on explicit queries. It is now based on natural language queries, intention queries, semantic queries."

"Our strong growth reflects the broad industry platform transition from general purpose to accelerated computing and generative AI... Enterprise software companies like Adobe and Dropbox, SAP and ServiceNow are adding AI copilots and assistants to their platforms."

"I still get a lot of questions from investors thinking about AI training as being NVIDIA's dominant domain and somehow inference, even large model inference takes more and more of the TAM that the market will become more competitive."