What did the 10-K actually say? NVIDIA's fiscal 2025 annual report (filed February 26, 2025) describes "GPU-accelerated servers interconnected to function as a single giant computer," adding that "this type of data center architecture and scale is needed for the development and deployment of modern AI applications." EdgarBeast indexed the passage.
Strip the adjectives and you get a thesis statement: NVIDIA is telling investors, in its primary disclosure document, that AI is built at data-center scale and that its accelerated-computing architecture is the substrate. This is the company codifying in a 10-K the argument it has been making to the market for two years.
A thesis in a risk-and-business section is not a number, and I'll keep the two separate. The filing makes a qualitative, strategic claim about how modern AI is built; it does not, in this passage, attach that claim to a specific dollar result.
For markets, the value of marking it is that it sets the frame management wants investors to use: judge the business by the AI-data-center buildout it is positioned to supply. Whether the financials sustain that frame is the work of the quarters that follow. The 10-K on sec.gov is primary; EdgarBeast surfaced the language.