NEW YORK, Feb 25, 2026, 17:13 ET — After-hours
Nvidia shares moved higher in extended trading on Wednesday after the AI chip bellwether projected first-quarter revenue of about $78 billion, topping market estimates as Big Tech keeps spending on data centers. The company also beat expectations for January-quarter sales and profit, while flagging that its outlook does not assume any data center compute revenue from China and that it recently received U.S. licenses to ship only “small amounts” of its H200 chips to customers there, according to the company. Reuters
The stock was up nearly 4% in after-hours trading after rising 1.4% in the regular session, as investors tried to gauge whether the AI buildout is still accelerating or just getting noisier. “If Huang confirms Blackwell demand is on track… then that’s another tailwind for Micron,” Futurum Equities chief market strategist Shay Boloor said, pointing to tight memory supply as a key swing factor for the broader chip complex. Investopedia
The reaction mattered beyond one ticker because the broader market has been leaning on chips and AI-linked software to steady a choppy February. The Nasdaq closed up 1.26% earlier on Wednesday, while the S&P 500 gained 0.81%, and Horizon Investments’ Zach Hill described a market caught in a “push-pull” between sharp price action and unease about what AI disrupts next. Reuters
Nvidia said fourth-quarter revenue rose to $68.1 billion and data center revenue hit $62.3 billion, as customers ramped infrastructure for AI training and inference. It posted GAAP earnings per share of $1.76 and non-GAAP EPS of $1.62, and said it returned $41.1 billion to shareholders in fiscal 2026 through buybacks and dividends; the company also declared a $0.01 quarterly dividend payable April 1 to holders of record March 11.
Extended trading is the thinner-volume session after the closing bell, when earnings headlines can push stocks fast and sometimes reverse by the next day. Traders also watch “non-GAAP” figures — adjusted results companies use to strip out certain costs — because that’s often where the beat-or-miss math lives.
Nvidia’s own tweak to that math is now part of the story. The company said it will start including stock-based compensation in its non-GAAP measures, a change that could reshape how investors compare margins and earnings power across the AI hardware group.
There is still a big “but” hanging over the trade. The upside case assumes hyperscalers keep buying at pace and supply stays lined up; the downside is that customers shift more workloads to in-house chips, China revenue stays constrained, or any margin squeeze shows up before new platforms ramp cleanly.
What comes next is less about the headline revenue line and more about details: China licensing, product availability, and how quickly the newest systems translate into shipments. Investors will be listening for tone and specifics from executives, not just totals.
Nvidia’s next big stage is its GTC event in San Jose on March 16–19, with CEO Jensen Huang’s keynote set for March 16 — a date that often brings fresh product detail and demand signals.
For now, Thursday’s regular session is the first real test of whether the after-hours pop can hold in daylight, and whether Nvidia’s outlook lifts peers in chips and AI infrastructure — or just resets the bar again.
