Overview

• Quarterly revenue rose 56% year over year to $46.74 billion, beating expectations and increasing 6% from the prior period.
• Nvidia projected about $54 billion in current‑quarter revenue with a ±2% range, above an average estimate near $53.5 billion, while data center sales of $41.4 billion slightly missed and the stock fell roughly 3% after hours.
• The company reported no H20 chip sales in China last quarter and does not plan any in the current quarter.
• The U.S. approved renewed H20 exports under terms directing 15% of sales to the government, but Chinese resistance has stalled deployments and shipments have not begun.
• Goldman Sachs says the next drivers for the stock are hyperscaler investment updates, progress on the Rubin chip platform targeted for 2026, and clearer visibility on China demand and licensing.