Nvidia’s Hidden Networking Empire Reshapes AI Infrastructure

Nvidia disclosed a $15 billion quarterly networking revenue, an annualized run rate around $60 billion, rivaling Cisco’s total revenue and outpacing Broadcom and Arista in AI networking. The Mellanox acquisition gave Nvidia InfiniBand tech, enabling a full-stack AI data-center offering that combines GPUs, software, and networking, shifting Nvidia from a pure GPU maker to the backbone of AI infrastructure. While the ramp looks powerful, high valuations and potential slowdowns in AI spending pose risks.