Nvidia's AI Workflow Is Bursting — CFO Describes Demand as 'Extraordinary'

Nvidia’s Relentless AI Growth: No Signs of Slowing Down

Three years after the surge in artificial intelligence, Nvidia (NASDAQ: NVDA) continues to focus on scale rather than restraint. During a recent fireside chat hosted by JPMorgan, Nvidia’s Chief Financial Officer, Colette Kress, described the current demand for computing power with one word: “tremendous.” The company’s leadership made it clear—this is not a period of cautious optimism or stability, but one of overwhelming momentum.

AI Order Backlog Continues to Expand

Nvidia had previously revealed that its backlog surpassed $500 billion through the end of 2026, and that figure is still growing. While the company hasn’t provided a new headline number, it confirmed that further agreements—including deals with OpenAI and Anthropic—have been secured since the last update. According to JPMorgan, the existing backlog alone could generate about $330 billion in data center revenue, indicating that Nvidia’s future pipeline is becoming even more robust and visible.

One notable trend is that customers are planning their purchases far in advance. The lengthy timelines required to build AI data centers mean Nvidia is working with clients well before their systems go live. Even for projects slated for 2026, buyers are eager to increase their orders, signaling that demand is still outpacing supply.

Networking Solutions Strengthen Nvidia’s Ecosystem

Alongside its computing products, Nvidia is seeing a significant rise in adoption of its networking solutions. The company now reports that 90% of AI deployments using Nvidia technology also include its networking products, up from around 80% the previous year.

This trend suggests that nearly all new data centers powered by Nvidia are opting for the complete suite of solutions, further cementing Nvidia’s influence beyond just graphics processing units (GPUs).

Physical AI Gains Momentum

Nvidia is also expanding its reach into physical AI—technologies that interact directly with the physical world. While the automotive sector remains a prominent entry point, the company is increasingly collaborating with partners across various industrial sectors.

JPMorgan sees this as a largely untapped market where Nvidia’s comprehensive platform could play a pivotal role.

Challenges Persist, But Growth Trajectory Remains Strong

There are still uncertainties, such as pending regulatory approval for H200 shipments to China. Any progress on this front would be an added bonus rather than part of Nvidia’s baseline expectations. Meanwhile, the company is preparing to manage multiple product platforms as it transitions to the Rubin architecture in late 2026.

Despite these challenges, Nvidia continues to see demand intensify. With orders piling up and adoption rates climbing, the company’s position in the AI landscape appears increasingly secure and deeply rooted.

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