# Episode 95: QCOM Financial Investor Day, and NVIDA Earnings (age of Nvidia is over)

- Show: [The Circuit](https://hardwarepodcasts.com/podcast/the-circuit)
- Published: 2024-11-25
- Length: 40m
- Episode: 95
- Page: https://hardwarepodcasts.com/podcast/the-circuit/2024-11-25-episode-95-qcom-financial-investor-day-and-nvida-earnings-age-of-nvidia-is-over
- Listen: https://share.transistor.fm/s/5d920239

## Summary

Ben Bajarin and Jay Goldberg analyze Qualcomm's Financial Investor Day, discussing their strategic pivot from mobile to compute-centric growth in automotive, IoT, and PCs, while noting the difficulty of forecasting these new markets. They then examine NVIDIA's recent earnings, arguing that the era of triple-digit growth is ending as the company faces supply constraints with the Blackwell architecture and margin pressures from TSMC's advanced packaging. The hosts debate the competitive landscape for inference workloads, highlighting the threat of hyperscaler custom ASICs and Broadcom's networking solutions challenging NVIDIA's dominance.

## Chapters

- [0:06](https://hardwarepodcasts.com/podcast/the-circuit/2024-11-25-episode-95-qcom-financial-investor-day-and-nvida-earnings-age-of-nvidia-is-over#t=6) Introduction: Qualcomm Analyst Day Overview
- [1:55](https://hardwarepodcasts.com/podcast/the-circuit/2024-11-25-episode-95-qcom-financial-investor-day-and-nvida-earnings-age-of-nvidia-is-over#t=115) Qualcomm's Diversification Strategy and Forecasting Challenges
- [10:12](https://hardwarepodcasts.com/podcast/the-circuit/2024-11-25-episode-95-qcom-financial-investor-day-and-nvida-earnings-age-of-nvidia-is-over#t=612) Qualcomm's Organic Growth and Execution Risks
- [14:47](https://hardwarepodcasts.com/podcast/the-circuit/2024-11-25-episode-95-qcom-financial-investor-day-and-nvida-earnings-age-of-nvidia-is-over#t=887) NVIDIA Earnings: The End of Hyper-Growth
- [19:44](https://hardwarepodcasts.com/podcast/the-circuit/2024-11-25-episode-95-qcom-financial-investor-day-and-nvida-earnings-age-of-nvidia-is-over#t=1184) NVIDIA Blackwell Supply Constraints and Margins
- [27:53](https://hardwarepodcasts.com/podcast/the-circuit/2024-11-25-episode-95-qcom-financial-investor-day-and-nvida-earnings-age-of-nvidia-is-over#t=1673) The Inference Market and NVIDIA's Competitive Position
- [35:21](https://hardwarepodcasts.com/podcast/the-circuit/2024-11-25-episode-95-qcom-financial-investor-day-and-nvida-earnings-age-of-nvidia-is-over#t=2121) Hyperscaler Custom Silicon and Future Challenges

## Topics

- [Chips, FPGAs & semiconductors](https://hardwarepodcasts.com/topic/chips-and-fpgas)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Scaling production](https://hardwarepodcasts.com/topic/scaling-production)
- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)
- [Validation & product-market fit](https://hardwarepodcasts.com/topic/validation-and-product-market-fit)

## Most relevant to

large enterprises

## Mentioned

- Qualcomm (company)
- NVIDIA (company)
- Blackwell (product)
- TSMC (company)
- Broadcom (company)
- Snapdragon (product)
- CUDA (other)
- HBM (product)

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- [Whither Semiconductors? The Wheels on the Bus Go ‘Round and ‘Round](https://hardwarepodcasts.com/podcast/ee-times-current/2021-07-16-whither-semiconductors-the-wheels-on-the-bus-go-round-and-round) (EE Times Current)
- [Can the Nvidia Monopoly on AI Chips Be Broken?](https://hardwarepodcasts.com/podcast/ee-times-current/2026-03-16-can-the-nvidia-monopoly-on-ai-chips-be-broken) (EE Times Current)
- [Interview: AMD CTO Papermaster | Interview: Imagination CEO Black | Where to Invest in 2020](https://hardwarepodcasts.com/podcast/ee-times-current/2020-01-24-interview-amd-cto-papermaster-interview-imagination-ceo-black-where-to-invest-in) (EE Times Current)
- [Google TPU vs Nvidia GPUs: Token Per Watt Dominance, or the Era of Scaling Is Over?](https://hardwarepodcasts.com/podcast/built-2-scale/2025-11-26-google-tpu-vs-nvidia-gpus-token-per-watt-dominance-or-the-era-of-scaling-is-over) (Built 2 Scale)
- [Predictions 2025](https://hardwarepodcasts.com/podcast/oxide-and-friends/2025-01-10-predictions-2025) (Oxide and Friends)

## Citing this page

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