Kiwis have piled into Nvidia - how have they fared after today’s result?
Thursday, 20 November 2025
Jessica Amir is a market strategist at share-trading platform, Moomoo Australia and New Zealand.
ANALYSIS: The mothership of AI, Nvidia, delivered another better-than-expected report card and outlook – throwing cold water on increasing worries of an AI-spending bubble.
And it was exciting to see that – unlike many of its past post-earnings reactions – this one has been positive. That’s very telling for several reasons.
Shares in the world’s biggest company rallied 5% to US$195.75 in after-hours trade. Recently, Nvidia’s share price has tended to fall even after delivering show-stopping results. This suggests this time is different because dip-buyers are taking advantage of its recent pullback, which left the stock 12% below last month’s record all-time high. Today Nvidia's market cap is approximately $4.5 trillion, which is over 17 times the size of New Zealand's entire economy (as at October 2025).
Kiwi investors have significant exposure to Nvidia, primarily through the NZ Super Fund, KiwiSaver schemes, and direct investment platforms such as Moomoo.
What’s compelling for shareholders, and what will also encourage new investors to buy Nvidia here, is that it not only delivered a blowout set of numbers, but its outlook is brighter than ever. Founder and chief executive officer Jensen Huang said “Blackwell sales are off the charts, and cloud GPUs are sold out'.
Nvidia reported record revenue of $57 billion, up 62% from a year ago, and record data-centre revenue of $51.2b, up 66% year-on-year. It revealed gross margins of about 73.4% for the quarter. (To put that into perspective, the margin of the Commonwealth Bank of Australia, which owns ASB in New Zealand, is near 2%.)
It seems more AI love is ahead. Nvidia expects fourth-quarter revenue of about $65b, beating analysts’ expectations of $62b. And on a yearly basis, Nvidia is also on track to deliver more annual net income than Intel and AMD combined.
Zooming out further, Huang says the company has $500b in orders across 2025 and 2026 for its AI chips. That's compelling.
The tech giants are all leaning in too: Microsoft, Meta, Amazon, and Alphabet have lifted their capital-expenditure forecasts due to AI buildouts, and are collectively expected to spend more than $380b this year, with a large chunk of that spent on Nvidia technology so they can future-proof their businesses.
Takeaways
Nvidia’s bullish outlook shows demand for its AI accelerators remains extremely strong, even at premium prices. Clients like Microsoft, Amazon, Tesla, and Palantir are increasing orders because the chips are powerful and essential to their ecosystems.
Nvidia is the only mega-cap delivering revenue growth of around 60%, with roughly 60% of its clients listed in the Nasdaq-100 index.
This is not just a win for Nvidia — it’s a win for the entire sharemarket. Nvidia makes up 8% of the S&P 500 and 10% of the Nasdaq-100 index. Its chips are powering the growth behind Magnificent 7 companies Microsoft, Meta, Amazon, Alphabet, and Tesla, as well as China’s Alibaba and Baidu-backed Temu.
The big question: do you buy, hold, or sell? Nvidia has a history of recovering from pullbacks and hitting new record highs. The average investment bank rates it a 'buy', with around 27% upside in its share price to $237. After this morning’s result, several brokers upgraded the stock.