Nvidia, record revenue of 44 billion despite the China effect
The company ended the first quarter with revenues up almost 70 per cent to USD 44.1 billion. For the near future, however, new US restrictions on the sale of Nvidia's H20 chips to China are a concern.
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Nvidia reported better-than-expected results for the first quarter, with record revenues of $44.1 billion up 69 per cent that confirmed the group's leading position in the artificial intelligence revolution. Profits rose 26 per cent to $18.8 billion, slightly below forecasts of $19.5 billion.
The business' record growth was helped by sales of its next-generation Blackwell chips, which helped offset the blow caused by the US ban on chip sales to China. Blackwell game semiconductors are closely related to artificial intelligence technologies,
On Wall Street in the after-market the stock gained 5%. The company is already second only to Microsoft in market cap, at 3.3 trillion.
The Trump administration's crackdowns, however, are weighing in. Already in the fiscal first quarter that just ended in April, the company was unable to export 2.5 billion H20 chips and projected second-quarter fiscal 2026 sales of $45 billion - plus or minus 2 per cent - which is below its forecast of $45.66 billion, due to an $8 billion impact from the US ban on chip sales to China.
Nvidia is thus bracing itself for the sales blow caused by tighter US restrictions on exports of its artificial intelligence chips to China, a key semiconductor market.
