Nvidia announced that 2 % of the company’s revenue was for two anonymous customers

According to a case filed by the US Stock Exchange Commission, nearly 2 % of Nvidia’s revenue in the second quarter is only from two customers.

On Wednesday, the company reported that in the quarter of July, which ended on July 6, it achieved a $ 1.5 billion revenue record, which grew by 5 % compared to the same period last year and was largely influenced by the boom in artificial intelligence -related data centers. However, additional reports have shown that a large part of this growth depends on a small number of customers.

More precisely, Nvidia announced that only one customer accounted for 2 % of the total second trimester, while selling to another customer was about 2 % of the same income. In the documents provided, the identity of these two customers is not specified and only referred to as Customer A and Customer B.

In the first half of the current fiscal year, Nvidia announced that customer A and Customer B have made up to 2 % and 2 % of the company’s total revenue, respectively. Also, the other four customers account for 2 %, 2 %, 2 % and 2 % of the second quarter’s revenue.

The company explained in its case that all of these customers are “direct”, such as companies such as manufacturers and distributors who buy chips directly from Nvidia. In contrast, indirect customers, such as cloud service providers and consumer internet companies, provide Nvidia chips from these customers.

In other words, the possibility of one of the major cloud service providers such as Microsoft, Oracle, Amazon or Google is the same customer A or B, although these companies may indirectly play a key role in this huge volume of purchase. Nicole Crus, chief financial officer of Nvidia, said large cloud service providers account for 5 % of Nvidia’s data centers revenue, accounting for 2 % of the company’s total revenue.

What does this mean for the future of Nvidia? Gimme Credit analyst Dave Noosel told Fortune that although “concentration of revenue among a very limited group can take significant risk, the positive thing is that these customers have huge cash reserves, produce extraordinary free cash flow and are expected to invest in the next few years.”