AI powerhouse Nvidia (NVDA) on Wednesday reported first-quarter earnings, posting revenue of $81.6 billion and adjusted earnings per share of $1.87, once again beating Wall Street expectations as investors looked for signs that demand for AI infrastructure remains strong enough to sustain the chipmaker’s massive rally.
Shares were volatile in after-hours trading following the results. They ended the day up about one percent on Wednesday.
Beyond the headline numbers, investors focused on four key themes: demand for Nvidia’s next-generation Blackwell chips, future products like Rubin, AI spending by hyperscalers, and whether AI demand is expanding beyond model training toward inference and enterprise applications.
Nvidia CFO Colette Kress said the company’s record data center revenue was “driven by the ramp of our Blackwell 300 products and demand for our InfiniBand, Spectrum-X Ethernet and NVLink solutions,” underscoring how Nvidia’s next-generation AI chips are becoming the company’s main growth driver.
Kress added that Blackwell architecture products now account for the majority of Nvidia’s revenue as the company secures additional supply and inventory commitments “to meet demand beyond the next few quarters.”
