Nvidia's latest results show AI demand still running far ahead of what the company can supply — very good news for Nvidia shareholders and its suppliers.

• Nvidia made more money in three months than TSMC, the company that makes its chips, made in all of 2024.
• Revenue doubled from a year earlier, a rare feat for a company already this big.
• The data center business drove almost all of it, growing even faster than the company overall.
• Nvidia guided next quarter above Wall Street's expectations and, unusually, promised 70% growth stretching out to fiscal 2028.
• Growth is capped by hardware supply, not demand — Nvidia says it could sell more if it could build more.

Outlook: Nvidia stock jumped and TSMC's US-listed shares rose with it, but the wild swings around the report suggest investors are still working out what a multi-year AI buildout means for everyone in the supply chain.