Nvidia’s two undisclosed major customers reportedly accounted for 39% of the company’s Q2 revenue

Nvidia revealed in a financial filing (August 2025) that two of its customers accounted for 39% of its revenue in the July 2025 quarter, sparking concerns about the concentration of its client base.

According to the company’s second-quarter filing with the Securities and Exchange Commission, ‘Customer A’ accounted for 23% of total revenue, while ‘Customer B’ made up 16%.

Nvidia announced on Wednesday 27th August 2025 that demand for its AI systems remains strong, not only from cloud providers but also from enterprises investing in AI, neoclouds and foreign governments.