Nvidia's growth in 2025 has been driven largely by capital expenditures from major technology companies within the so-called Magnificent Seven group. Microsoft is the largest customer, allocating approximately 47% of its capital expenditures to Nvidia's AI chips, according to Bloomberg estimates for Nvidia's fiscal fourth quarter of 2025. Meta follows, dedicating about 25% of its capital expenditures to Nvidia, representing just over 9% of Nvidia’s annual revenue. Other notable companies in this group also contribute to Nvidia's revenue, with Google allocating 15%, Tesla 14%, and Amazon 10% of their capital expenditures to Nvidia. Apple’s spending on Nvidia chips is considered negligible. This concentrated demand from leading tech firms underscores Nvidia's pivotal role in the AI chip market as it approaches its upcoming earnings report.