Nvidia's (NVDA) first quarter results left much to be desired, but it looks like Wall Street is shaking off the obvious bad news for now, Yahoo Finance's Brian Sozzi reports.

Read more here on what Wall Street is saying about Nvidia's quarter.

New Street Research analyst Antoine Chkaiban said that Nvidia's modest guidance raise for data center revenue was "very significant" when accounting for the headwinds from tariffs and export controls.

"The key takeaway here is that there's a surge in inference demand," Chkaiban told Yahoo Finance.

"All these reasoning models have been introduced over the course of the year or three or four," Chkaiban continued. "DeepSeek, you know, are capable of generating a lot of tokens to improve upon their answers. That's driving a lot of demand for compute, and ... of course, that translates into a lot of demand for the latest generation Blackwell."

On the earnings call, Nvidia CEO Jensen Huang said that AI inference token generation surged by 10x over the past year and that demand will only accelerate as AI agents become mainstream.

"Countries around the world are recognizing AI as essential infrastructure — just like electricity and the internet — and Nvidia stands at the center of this profound transformation,” Huang said.

Shares were up over 6% in early trading. The rise puts the AI giant on track for its highest closing level since late January.

Nvidia's post-earnings call with investors was highly focused on the chipmaker's billions in lost revenue from Trump's ban on its chip exports to China.

Nvidia has made specialized chips called H20 — based on the company's prior-generation Hopper AI graphics processing units (GPUs) — for export to China to comply with ever-tightening US export controls.

Huang said the company will "see if we can come up with interesting products that could continue to serve the Chinese market" but said "we don't have anything at the moment."

The China market accounted for a smaller share of Nvidia's revenue in the first quarter than the prior two periods — 12.5% for the three months that ended on April 27, compared with roughly 14% and 15% in the prior two quarters, respectively.

Read more about Nvidia's hit from the Trump administration's new export ban here.

Nvidia's earnings call just wrapped up, and the stock remains solidly higher. Shares are up over 4% just after 6 p.m. ET.

We have some early reaction to Nvidia's report from one of Wall Street's biggest tech bulls, Wedbush analyst Dan Ives.

In a note titled, in part, "The Godfather of AI Delivers Again," Ives called the quarter "very robust" despite clear headwinds from US curbs on its China sales.

The report should be "music to the ears of tech bulls listening to this conference call," Ives wrote.

Ives also highlighted recent Middle East deals as a growth catalyst despite the China headwinds.

"There is one chip in the world fueling the AI Revolution and it's Nvidia. ... That narrative is clear from these results and the positive commentary from Jensen," he said.

While Nvidia executives lamented lost revenue from China in the quarter, Nvidia CEO Jensen Huang offered support for President Trump's aim of building manufacturing capacity in the US.

"In Houston, we're partnering with Foxconn to construct a million-square-foot factory to build AI supercomputers," he said. "Wistron is building a similar plant in Fort Worth, Texas. To encourage and support these investments, we've made substantial, long-term purchase commitments, a deep investment in America's AI manufacturing future."

"Our goal, from chip to supercomputer, built in America within a year."

Nvidia CEO Jensen Huang remarked on the Trump administration's ban on a less powerful version of its Hopper chips for China during a call with analysts following its first quarter earnings results:

Listen live to the Nvidia earnings call here.

The earnings call has begun, and Nvidia CFO Colette Kress noted that Big Tech companies continue to ramp up data center spending.

"Major hyperscalers are each deploying nearly ... 72,000 Blackwell GPUs per week, and are on track to clear ramp output this quarter," Kress said. "Microsoft, for example, has already deployed tens of thousands of Blackwell GPUs and is expected to ramp to hundreds of thousands of GB200s with OpenAI as one of its key customers."

Listen live to the Nvidia earnings call here

Nvidia's (NVDA) latest quarterly earnings — which as a whole topped Wall Street's estimates — showed the company expects to see $8 billion in lost revenue from the Trump administration's ban on sales of its H20 AI chips to China in the second quarter (which ends in late July).

That's on top of the $2.5 billion of revenue from the H20 ban the chipmaker said it lost in the first quarter (which ended April 27).

That means Nvidia is set to lose $10.5 billion in revenue due to the ban in the first and second quarters of its 2026 fiscal year alone.

The Trump administration effectively banned sales of Nvidia's chips to China in early April, weeks before the end of its first quarter.

Nvidia's sales to China (including Hong Kong) during the period totaled $5.5 billion, less than the $6.2 billion expected, according to Bloomberg data. That means China accounted for more than 12% of the company's total revenue.

Nvidia also said it took a $4.5 billion charge due to a write-down in inventory (chips it produced but now can't sell) in the first quarter due to the new export rules — less than the $5.5 billion hit expected.

"We are still evaluating our limited options to supply data center GPU products compliant with the US government's revised export control rules," said CFO Colette Kress.

"Losing access to the China AI accelerator market, which we believe will grow to nearly $50 billion, would have a material adverse impact on our business going forward, and benefit our foreign competitors in China and worldwide."

Singapore was once again the second-largest market for Nvidia, which gets over half of its revenue (53%) from abroad. Revenue from the region was roughly $9 billion. Notably, Singapore has been a source of chip smuggling to China.

Listen live to the Nvidia earnings call here.

Hyperscalers, including Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META), continued to power Nvidia's results.

"We saw our Blackwell architecture ramp expand to all customer categories, while large cloud service providers remained our largest at just under 50% of Data Center revenue," the company reported in its quarterly filing.

Shares of Nvidia's "Magnificent Seven" Big Tech peers — Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), and Tesla (TSLA) — didn't swing significantly after Nvidia's earnings.

Other than Nvidia, Tesla led after-hours gains in the tech stock complex, rising 1.3%, while Apple was roughly flat. The others were up less than 1%.

Nvidia (NVDA) stock jumped more than 3%, as Wall Street saw strength in the chipmaker's quarter.

“I thought it was a really strong quarter, all things considered,” Benchmark Company managing director Cody Acree told Yahoo Finance (see video below).

"Given all the issues with China and all of the concerns about slowing capital budgets, to see the company come in with an $8 billion loss for the Chinese revenue and still come within the marginal range of estimates, I think is a victory," Acree added.

Nvidia reported record revenue of $44.1 billion in the first quarter.

While that marks a 69% increase over the prior year, it pales in comparison to the 262% revenue growth the AI chip giant reported a year ago.

Nvidia's first quarter results on Wednesday came in a bit shy of Wall Street estimates, with adjusted earnings per share and revenue in its data center business falling short of expectations.

In the first quarter, Nvidia earned $0.96 per share on an adjusted basis, which excludes charges related to export controls and associated tax implications, with headline revenue coming in at $44.1 billion. Diluted earnings per share came in at $0.81.

Wall Street expected the company to report adjusted earnings per share of $0.88 on revenue of $43.3 billion, according to estimates from Bloomberg. A year ago, Nvidia reported adjusted EPS of $0.61 on revenue of $26 billion.

Nvidia's data center business — which captures spending on its AI chips — tallied revenue of $39.1 billion, just below the $39.22 billion forecasted by the Street.

Shares of the company were up about 3% in extended trading in immediate reaction to the numbers.

Nvidia (NVDA) stock has rallied hard in May, gaining 24% in the past month.

That leaves many investors wondering if it's a good time to pile into the stock ahead of the chip giant's earnings report. We've pointed out here that Nvidia stock tends to swing 7% in either direction the day after it reports. My colleague Laura Bratton has also noted that Nvidia's earnings often surprise Wall Street.

According to tastylive founder and CEO Tom Sosnoff, volatility in the stock is low, even heading into earnings, suggesting that "the expectations are for something rangebound to happen."

Sosnoff outlined several key points investors should keep in mind when determining whether to invest in a popular name like Nvidia:

Pros:

"It’s super liquid," Sosnoff said on Wealth. "It's got a very liquid derivatives marketplace. So you can do lots of different strategies and things like that."

Sosnoff also pointed out that Nvidia remains a market leader. "It’s the bluest of all blue chips right now," he said.

Cons:

A major con, according to Sosnoff, is that "it’s a crowded trade. Nvidia is pretty fully priced."

He added that "for the first time, we're not seeing any call skew in there, which means that the derivatives markets, which are pretty good at pricing upside expectations, are kind of mixed right now. They're saying, 'you know what, upside and downside, we have similar expectations.'"

"So I think the con is that if Nvidia misses, there’s pretty decent pot odds that the downside move could be greater than the upside move if they hit it," he explained.

Yahoo Finance's Josh Schafer highlighted one chart that shows how Nvidia became the dominant chipmaker and one of the most valuable companies in the world, with a market capitalization of over $3 trillion:

Check out more charts like this that show Nvidia's rise.

Yahoo Finance's Laura Bratton reports:

Read more here.

The countdown to Nvidia's earnings has begun.

Beyond the top and bottom line figures, which Wall Street expects to be solid, Yahoo Finance's Brian Sozzi and Brooke Sweeney have compiled three things that investors should watch out for:

Read more here.

Nvidia stock (NVDA) opened modestly higher ahead of its earnings report but fluctuated in early trading. At last check, shares were down 0.3%.

While some volatility is expected, investors will be watching to see how Nvidia trades around earnings — and whether its "Magnificent Seven" tech peers and the broader market move in tandem, as AI is seen as an engine to the growth of the recent bull market.

Nvidia's earnings will also create an important benchmark for other AI plays and stocks tied to the technology, such as utilities and companies involved in data center infrastructure.

It's pretty commonplace to see any chart that has to do with Nvidia's (NVDA) business over the past several years looking like a hockey stick.

From a more than 700% growth in the company's market and share price since the launch of ChatGPT in late November 2022, the charts are eye-catching. But in our Chart of the Day today, we wanted to highlight how the growth of Nvidia's actual products is just as astonishing.

The AI chip leader uses a metric called "AI FLOPS," which stands for floating-point calculations per second. The company provided Yahoo Finance's Laura Bratton with a breakdown of how many FLOPS each of its GPUs over the past several years has been able to hit.

Hopper, first launched in 2022, maxed out at 2,958 FLOPs. Nvidia's new Blackwell chip hits about 20,000 FLOPS.

You don't have to understand the granular parts of AI computing, or even what FLOPS means, to see this chart and comprehend why Nvidia is winning the AI race by a landslide right now. The productivity of the product they're selling to end users has skyrocketed just like their stock price.

The competition against Nvidia (NVDA) from other chipmakers, Big Tech giants, and startups is heating up. But Nvidia still dominates, and it can maintain its manufacturing lead in the AI space for at least a year, two tech analysts told Yahoo Finance on Tuesday.

"You know, the competition does have a roadmap that is expected to follow suit, but they're at least a year behind at this point," KeyBanc Capital Markets equity research analyst John Vinh said on Morning Brief.

Harvest Portfolio Management chief investment officer Paul Meeks estimated that Nvidia's manufacturing lead is around a year and a half.

Both analysts asserted that investing in artificial intelligence isn't an either/or proposition, especially with the kind of "voracious" demand Nvidia is expected to showcase. They highlighted AMD (AMD), Broadcom (AVGO), and Taiwan Semiconductor (TSM) as three other strong contenders in the chip race.

However, Nvidia simply maintaining its lead may not be enough for Wall Street, which is coming into Nvidia earnings with high expectations.

"I'm a little bit worried that although they will most likely not just meet but beat slightly, will that be enough to appease Wall Street?" Meeks said. "Remember, part of the thesis here was their revenues were going to rapidly reaccelerate in the second half of this year," he added. "With all the geopolitical turbulence, I don't know if that's the case."

China continues to be a major source of revenue for Nvidia, as Yahoo Finance's Laura Bratton reports the chipmaker is estimated to have made more than $6 billion from sales to the country in Q1:

Read more here.

Note: This blog was updated to correct the date that Nvidia's first quarter ended.

Wall Street is overwhelmingly bullish on Nvidia (NVDA) stock, with 87% of analysts holding a Buy rating on the stock.

But as Yahoo Finance's Brian Sozzi and Brooke Sweeney point out, there are still a few expecting disappointment when the AI chipmaker reports earnings on Wednesday.

The bear case:

Read more here.

The artificial intelligence gold rush could come at a steep cost for the environment, Yahoo Finance's Brian Sozzi and Brooke Sweeney report:

Read more here.

Here's another stat on Nvidia's stock performance around earnings, courtesy of Yahoo Finance's Laura Bratton:

Read more here.

Nvidia's earnings on Wednesday will be the market's biggest event this week.

And new data highlighted by Bloomberg on Tuesday suggests there could be trillions of dollars ready for deployment once these results clear.

Strategists at BBVA cited by Bloomberg see institutional investors as having exposure to US stocks that is "far from exuberance levels," meaning the $7 trillion currently parked in money market funds could come flowing back into stocks depending on these earnings break.

Throughout 2025, numerous headwinds have faced US stocks from an allocation standpoint, with the "Sell America" trade, tariff uncertainty, and rising interest rates offering all sorts of competition to US equities after two years in which Big Tech made US stocks the most important game in town for investors.

The idea, we'd note, is not that this cash will pile into Nvidia stock itself — or even Big Tech, necessarily — but that enthusiasm for US stocks which has waned considerably in recent months could be restored if twin tailwinds of a more positive trade backdrop and a return to the buoyant AI story powered by Nvidia return in force this week.

Yahoo Finance Tech Editor Dan Howley breaks down the key metrics to watch when Nvidia reports Q1 results on Wednesday after the bell:

Read the full earnings preview here.