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Nvidia Reports 69% Revenue Surge, Warns of $8 Billion China Shortfall

US export restrictions have closed China off to Nvidia’s top GPUs with a projected $8 billion hit to next-quarter sales.

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Overview

  • Nvidia’s Q1 revenue climbed 69% year-on-year to $44.1 billion and net income rose 26% to $18.8 billion, driven by AI datacenter demand.
  • The company took a $4.5 billion charge for excess H20 GPU inventory and forecasts an $8 billion sales shortfall next quarter from US chip export bans to China.
  • CEO Jensen Huang cautioned that barring US GPUs from China risks ceding global AI leadership to domestic Chinese platforms.
  • Nvidia is accelerating development of its next-generation Vera Rubin AI chips and refining Blackwell variants to uphold its performance edge.
  • To offset Chinese market restrictions, Nvidia is diversifying into regions such as Saudi Arabia and saw its gaming GPU division post a record $3.8 billion quarter.