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Bitcoin miners tied to AI rise as Nvidia posts big earnings outpaced and strong outlook
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Nvidia (NVDA) posted another blockbuster quarter on Wednesday, as demand for artificial intelligence infrastructure pushed revenue, profit and cash flow to record levels.
Key facts
- Hyperscalers generated more than half of Nvidia’s $75 billion in Data Center revenue during the quarter, reaching roughly $38 billion and rising 12% from the previous quarter, CFO Colette Kress said
- The chipmaker reported first-quarter revenue of $81.62 billion, up 85% from $44.06 billion a year earlier and above Wall Street estimates of $78.9 billion, according to FactSet data
- Adjusted earnings came in at $1.87 per share, beating analyst expectations of $1.76 per share
- The remaining $37 billion came from a segment Nvidia now calls ACIE, which includes AI cloud providers, industrial customers and enterprise markets
Summary
Nvidia reported first-quarter revenue of $81.62 billion, up 85 percent from a year earlier and above Wall Street expectations, as AI infrastructure demand continued to surge. Data Center now accounts for more than 90 percent of Nvidia’s revenue, prompting the company to reorganize its reporting into two segments: Data Center and Edge Computing. Nvidia forecast roughly $91 billion in revenue for the current quarter, announced an $80 billion stock buyback and a sharply higher dividend, and said its outlook excludes any Data Center compute revenue from China. The chipmaker reported first-quarter revenue of $81.62 billion, up 85% from $44.06 billion a year earlier and above Wall Street estimates of $78.9 billion, according to FactSet data.