It's a good time to be the arms dealer for the AI boom

Nvidia kicked the can labeled "AI bubble" down the road on Wednesday.

"There's been a lot of talk about an AI bubble," said CEO Jensen Huang during the AI arms dealer's third-quarter earnings call. "From our vantage point, we see something very different."

Huang marked the occasion by noting, in a statement, that "Blackwell sales are off the charts, and cloud GPUs are sold out."

Recent high-profile sales of Nvidia stock by Peter Thiel's hedge fund and by Softbank raised concern among investors about the GPU maker and the health of the AI boom. The company reported revenue of $57 billion, an increase of 22 percent from the previous quarter and an astonishing 62 percent from the year-ago quarter.

It maintained this growth with a GAAP gross margin of 73.4 percent. That kind of margin is rarely seen outside monopolies such as Microsoft's Windows back ...