SANTA CLARA, California, May 20, 2026, 13:25 PT
- Nvidia’s revenue for the quarter jumped 85% to $81.6 billion.
- Data-center sales came in at $75.2 billion, as AI spending stayed solid.
- The company guided to $91 billion in second-quarter revenue, not counting China data-center compute sales.
Nvidia posted record revenue for the quarter and projected stronger-than-expected sales for the second quarter. The results signal AI infrastructure spending is still strong.
Nvidia said first-quarter revenue jumped 85% from last year to $81.6 billion for the quarter ended April 26. Its Data Center division, which covers AI server chips, brought in $75.2 billion, up 92%.
Nvidia’s results are a key barometer right now for how much Microsoft, Amazon, Alphabet, Meta and other big buyers are still spending on AI data centers. Visible Alpha consensus was looking for around $78.5 billion in total quarterly revenue, with $72.8 billion from Data Center, per S&P Global Market Intelligence.
Nvidia is guiding for second-quarter revenue of $91.0 billion, give or take 2%. The outlook doesn’t count on any Data Center compute sales from China, where U.S. export controls are still a big headwind.
GAAP earnings hit $2.39 per diluted share. Excluding some expenses, non-GAAP earnings came in at $1.87. Gross margin stayed near 75%, almost flat from last quarter.
NVIDIA CEO Jensen Huang said in the company’s statement that “the buildout of AI factories — the largest infrastructure expansion in human history — is accelerating.” He also said agentic AI, which is software that does more without human direction, is “scaling rapidly” with companies and industries. NVIDIA Newsroom
Nvidia boosted shareholder payouts as well. The chipmaker authorized another $80 billion in share buybacks and upped its quarterly dividend to 25 cents from 1 cent. Nvidia said it handed back about $20 billion to its shareholders last quarter.
The stock was up 1.8% before the results, helped by a rally in chip names. Earlier Wednesday, Reuters said investors were waiting for Nvidia to give signs that AI demand might keep tech sector valuations high.
Options traders were looking for a move of about $355 billion in Nvidia’s market cap after its earnings, Reuters said Tuesday. The numbers show how much Nvidia matters to U.S. stocks now.
Nvidia has to keep ahead as rivals push in. Advanced Micro Devices and homegrown chips from top cloud players are mounting a challenge, and China curbs, supply snags and doubts about AI investments could pressure demand. Reuters said this week investors are eyeing possible supply issues and any signal that competitors are chipping away at Nvidia’s advantage.
