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Nvidia beat Wall Street’s expectations again, reporting a record first-quarter revenue of $26 billion for fiscal year 2025 — up 262% from a year ago.
The chipmaker’s revenue for the quarter ending April 28 is up 18% from its last quarter revenue of $22 billion, which also beat Wall Street’s sky-high expectations, and was up nearly 270% from the previous year.
“The next industrial revolution has begun — companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center — AI factories — to produce a new commodity: artificial intelligence,” Jensen Huang, founder and chief executive of Nvidia, said in a statement. “AI will bring significant productivity gains to nearly every industry and help companies be more cost- and energy-efficient, while expanding revenue opportunities.”
The company reported its data center quarterly revenue was a record $22.6 billion, up 23% from the previous quarter, and up a whopping 427% from a year ago. This revenue was driven by high demand for Nvidia’s Hopper GPUs, or graphics processing units, which are used in training and developing leading large language models (LLMs), Nvidia said.
Demand for Nvidia’s H200 and Blackwell chips is exceeding supply, Nvidia said on its earnings call. Huang said Nvidia sees continuing demand for Hopper despite fears of a pause in demand as customers wait for Blackwell.
The Blackwell platform will start shipping in the second quarter, Huang said in the company’s earnings call, adding that it will ramp up in the third quarter, and be with customers in the fourth quarter. Nvidia will see revenue from Blackwell this year, he said.
Huang announced Nvidia already has another chip coming after Blackwell, and added that it is “on a one-year rhythm,” during the company’s earnings call.
Nvidia reported its gaming revenue was up 18% in the first quarter from the year before due to higher demand, but it was down 8% from the previous quarter.
Ahead of its earnings report, the chipmaker’s share price was down around 0.4% at $949.50 at the market close Wednesday evening, after closing at a record-high $953.86 the day before. The chipmaker’s shares were up more than 6% in after-hours trading, pushing the company’s stock price to a new all-time high and past the $1,000 threshold.
Before the chipmaker last reported fourth-quarter earnings in February, it saw its worst day on the stock market since October 2023, and lost $78 billion in market value the day before its earnings report. The chipmaker’s stock price has mostly rallied since its fourth-quarter earnings report, and is up 209% over the past year.
After the chipmaker unveiled its newest chip, Blackwell, in March, Wall Street’s expectations were high for the firm’s earnings report. But some analysts were wary of a pause in orders of Nvidia’s current chips before the eventual shipments of Blackwell.
“We are poised for our next wave of growth,” Huang said, adding that the company’s Blackwell chips are “in full production and forms the foundation for trillion-parameter-scale generative AI.”
Nvidia’s Hopper chips, the Blackwell predecessor behind some of the world’s most powerful artificial intelligence models, have propelled the company to become the first chipmaker to reach a $2 trillion market cap in February, and the third-most valuable company in the world in March.
The chipmaker set its second-quarter revenue expectations at $28 billion, plus or minus 2%. The chipmaker also announced a 10-for-1 stock split, under which shares will begin trading when the market opens on June 10.
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