From Cointelegraph

May 28, 2025 9:56:00 pm:

Chip-making giant Nvidia reported mixed results in its first quarter earnings, with revenue beating expectations but income missing predictions due to US restrictions on exports to China. The company posted revenues of $44.1 billion, up 12% from the previous quarter, but earnings per share of 81 cents fell short of estimates at 85 cents per share. Nvidia’s net income was $18.8 billion, up 26% from a year ago. CEO Jensen Huang noted strong global demand for Nvidia’s AI infrastructure. The company anticipates a revenue loss of approximately $8 billion in the second quarter due to export control limitations. Nvidia plans to launch a new lower-cost AI chip specifically for China. Data center revenue accounted for most of the firm’s total revenues, reaching $39.1 billion, up 10% from the previous quarter. Shares in Nvidia Corp closed trading down 0.51% at $134.81 but rose 4.89% after the release of its financial results. Huang emphasized Nvidia’s focus on agentic AI amid a competitive tech landscape. Other US firms are also expanding their AI initiatives, with Microsoft establishing two AI centers in Abu Dhabi. Bitcoin mining companies are diversifying income streams to include AI operations.

Read more at Cointelegraph: Nvidia posts mixed Q1, predicts $8B hit with US chip curbs