NVIDIA Corporation (NVDA) Discusses Rubin and Blackwell Performance Advancements and TPU Comparisons January 5, 2026 6:00 PM EST

Company Participants

Jen-Hsun Huang - Co-Founder, CEO, President & Director Colette Kress - Executive VP & CFO

Conference Call Participants

Atif Malik - Citigroup Inc., Research Division Vivek Arya - BofA Securities, Research Division Benjamin Reitzes - Melius Research LLC Aaron Rakers - Wells Fargo Securities, LLC, Research Division Stacy Rasgon - Bernstein Institutional Services LLC, Research Division James Schneider - Goldman Sachs Group, Inc., Research Division William Stein - Truist Securities, Inc., Research Division Srinivas Pajjuri - RBC Capital Markets, Research Division Louis Miscioscia - Daiwa Securities Co. Ltd., Research Division Joseph Moore - Morgan Stanley, Research Division Ananda Baruah - Loop Capital Markets LLC, Research Division Christopher Caso - Wolfe Research, LLC Ruben Roy - Stifel, Nicolaus & Company, Incorporated, Research Division Natalia Winkler - UBS Investment Bank, Research Division Ken Chui

Presentation

Jen-Hsun Huang Co-Founder, CEO, President & Director

Okay. Happy New Year. It’s all right. You could talk. How do we get this going? It’s almost like we’re doing this for the very first time.

Colette Kress Executive VP & CFO

I think we have our council...

Jen-Hsun Huang Co-Founder, CEO, President & Director

Yes. First question over here.

Colette Kress Executive VP & CFO

All right.

Question-and-Answer Session

Atif Malik Citigroup Inc., Research Division

Atif Malik from Citigroup. Jensen, you had a slide on the number of tokens, 10x more tokens on Rubin versus Blackwell. The question I have, historically, you have shown a slide of Blackwell performance versus TPUs on training. Any kind of simulation that can kind of put the performance of Rubin on the inference versus TPUs?

Jen-Hsun Huang Co-Founder, CEO, President & Director

It’s hard to because the only thing that’s available is MLPerf. And we subject ourselves to a fair amount of – I’m sorry. I had to spit out my candy. I’m just – I