“If we delivered a bad quarter, it is evidence there’s an AI bubble. If we delivered a great quarter, we are fueling the AI bubble.”

The proper way to read this is:

“We absolutely, 100% are in an already over inflated bubble, therefore if we deliver a bad quarter it could be a sign of the bubble popping. If we deliver a good quarter, we are fueling the bubble further”

I wonder how the quarters are going to look next year when OpenAI cannot pay Oracle 6 times their current revenue in contracts, and therefore Oracle won’t deliver the contracted Data Center capacity requiring 2 non-existen Hoover Dams worth of power to run them and therefore NVidia will be left holding the bag on millions of commissioned but not sold GPUs