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Nvidia defies China export curbs with record AI-driven earnings
Nvidia’s shares surged after beating earnings expectations, fueled by booming AI demand despite $8B in lost China sales due to U.S. export restrictions. The chip giant remains the world’s most valuable company.
Nvidia’s Q1 earnings crushed expectations, sending shares up nearly 5% after hours, putting it within 8% of its all-time high. The AI chip giant, now the world’s most valuable company, posted record data center revenue ($39.1B, up 73% YoY) and raised guidance, even as U.S. export restrictions cost it an estimated $8B in lost China sales.
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CEO Jensen Huang called AI demand “incredibly strong,” with its Blackwell chips now in full production. But China’s market remains a hurdle—Nvidia wrote down $4.5B in unsold H20 GPUs due to new rules, slashing gross margins to 61% (vs. 71% without the hit).
Looking ahead, Nvidia is pivoting to growth in the Middle East, partnering with Saudi Arabia’s HUMAIN, while navigating U.S. approval for alternative China chips. Analysts say the results prove AI demand outweighs short-term regulatory risks.
Key figures:
- Revenue: $44.1B (+69% YoY)
- EPS: $0.96 (beat)
- Q2 guidance: $45B (±2%)
- China impact: $8B annual revenue loss expected
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Last update: May 29, 2025