NVIDIA's earnings report stands as a pivotal indicator for the global AI industry, with the market keenly awaiting insights into Blackwell's commercial viability, the burgeoning demand for AI inference, and the company's ability to weather challenges. The report met these expectations, showcasing that sales revenue from Blackwell's initial delivery quarter reached $11 billion, solidifying its position as the fastest-growing product. Concurrently, NVIDIA embraced DeepSeek, refining the R1 version specifically for Blackwell. The company's full-year revenue surged by 114% year-on-year, with the data center business continuing to serve as the primary revenue driver. Despite navigating a complex competitive and policy landscape, NVIDIA demonstrated resilience. However, gross margins fell slightly below projections due to the heightened complexity and costs associated with updated products.