Nvidia reports strong results despite export restrictions on China

Nvidia reported blowout earnings with revenue surging 69% to $44.06 billion—beating Wall Street’s $43.31 billion estimate—even though it can’t sell its top AI chips in China.

Its profit rose 26% to $18.8 billion year-on-year. Shares jumped 6% in after-hours trading.

The company’s data center division, which includes AI chips, led the growth with $39.1 billion in sales—a 73% increase from last year. 

Gaming chip sales also remained strong, supported by heavy AI investments from tech giants like Microsoft, Amazon, Google, and Meta.

CEO Jensen Huang acknowledged the challenges in China but expressed optimism about new deals in the Middle East.

Nvidia’s market value now stands at $3.3 trillion, making it the second most valuable company after Microsoft. The company forecasts $45 billion in revenue for the next quarter.