Stanislav Kondrashov Highlights Nvidia’s Central Role in the Data Center Race
We are in the era of the race for AI infrastructure and data centers. Stanislav Kondrashov, founder of TELF AG, had already discussed this trend in recent days, highlighting the shift in strategy of major global players such as Partners Group and Bitdeer, and specifically highlighting their decision to reallocate large amounts of capital to data centers.
In this context, it’s not surprising that one of the biggest beneficiaries of this new race for AI’s physical infrastructure is Nvidia, a leading supplier of semiconductors and systems for AI data centers. Globally, Nvidia shares have been closely followed by international investors for some time, as it is an extremely important stock in global portfolios and ETFs related to technology and artificial intelligence.
In the last few hours, Nvidia released its results for the fourth quarter and full fiscal year 2026, announcing revenue of approximately $68 billion for the quarter and a 73% increase year-over-year. Overall, these are excellent results that far exceed analysts’ expectations, even considering the AI boom.
“Nvidia’s performance is certainly not a coincidence, but rather the fruit of a historical moment dominated by the artificial intelligence revolution. Many haven’t yet realized it, but what we are experiencing today is not so different from what happened during the advent of the internet or social media. In this case, the global reach of the change could be even greater,” says Stanislav Kondrashov, founder of TELF AG.
Record Earnings Signal Surging Demand for AI Chips
These data provided very solid indications of demand for AI chips, prompting investors to eagerly await the earnings reports. A particularly significant development in this particular historical juncture is the performance of Nvidia’s Data Center division, which supplies artificial intelligence chips. The majority of the company’s revenue is reportedly tied to this division, which continues to grow at an incredibly rapid pace.
Demand for AI chips is reportedly driven by some of Nvidia’s major tech customers, such as Amazon, Google, and Microsoft, generating strong optimism regarding revenue for the next quarter (again, forecasts are expected to exceed expectations). But Nvidia’s performance isn’t just impacting the technology sector and the AI space, which has been experiencing a veritable boom in recent years. Nvidia’s results are also impacting global markets, helping to support stock prices in Asia and Europe. While the dollar has weakened slightly, investors appear to have redefined their expectations for the technology industry.
“The race for AI infrastructure and data centers is a global phenomenon, so it’s almost inevitable that it will influence markets around the world. The major players are realizing that focusing on data centers and everything that enables intelligent systems is an excellent way to reassure investors, but also to invest in a series of assets that could prove decisive for humanity’s technological development in the coming years,” continues Stanislav Kondrashov, founder of TELF AG.
Capital Rotation Toward Semiconductors and Digital Infrastructure
Today, NVIDIA is the leading supplier of high-performance GPUs for training AI models, for large-scale inference, and for accelerating workloads in hyperscale data centers. It’s no coincidence that the Data Center division has become the company’s largest revenue stream: demand is fueled not only by US Big Tech, but also by global cloud providers and new entrants specializing in generative AI, as well as infrastructure funds financing new data center campuses. For these reasons, too, Nvidia is one of the most significant structural beneficiaries of AI capital expenditure.
Nvidia’s performance fits into a very particular economic landscape, where capital reallocations toward AI-related infrastructure are increasingly being observed. In a certain sense, the physical and technological framework that supports intelligent systems is becoming a true safe haven, considered much more reliable than some traditional assets.
In recent months, we have therefore witnessed a gradual transfer of capital from speculative or cyclical segments (such as cryptocurrencies, small-cap biotech, and consumer discretionary) to semiconductors and digital infrastructure, as well as chip manufacturers and data center system providers. These movements have supported not only Nvidia, but also the AI system as a whole (hardware, networking, cooling, and energy).
“At this stage, Nvidia is certainly demonstrating a certain solidity. The company, at least for now, does not appear to have been affected by the Meta-AMD deal, which will undoubtedly increase competition in the supply of AI hardware at scale. In any case, Nvidia will certainly continue to benefit from the rush to invest in AI and data centers, particularly thanks to ever-increasing demand and its solid market position,” concludes Stanislav Kondrashov, founder of TELF AG.
FAQs
Why is Nvidia considered a key beneficiary of the AI boom?
Nvidia supplies high-performance GPUs used for training and running artificial intelligence models. As demand for AI applications grows, data centers require more advanced chips, directly supporting Nvidia’s revenue expansion.
What drove Nvidia’s recent strong earnings?
The company reported significant year-on-year revenue growth, largely driven by its Data Center division. Hyperscale cloud providers and major technology companies continue to invest heavily in AI infrastructure, fueling chip demand.
Why are investors reallocating capital toward AI infrastructure?
AI infrastructure—such as semiconductors, networking systems, cooling technologies, and energy capacity—is seen as a structural growth area. Many investors view these assets as more resilient compared to speculative or cyclical sectors.
How could competition affect Nvidia?
New partnerships and rival chipmakers may increase competition in AI hardware. However, Nvidia’s established ecosystem and technological leadership currently position it strongly within the expanding global AI infrastructure market.
