Nvidia has reported massive growth for the most recent quarter, with sales up 69% from the comparative period last year to $44,1-billion.
Net income was up 26% to $18.78 billion.
On 9 April 2025, Nvidia was informed by the US government that a license is required for exports of its H20 products into the China market. As a result of these new requirements, Nvidia incurred a $4,5-billion charge in the first quarter of fiscal 2026 associated with H20 excess inventory and purchase obligations as the demand for H20 diminished.
Sales of H20 products were $4,6-billion for the first quarter of fiscal 2026 prior to the new export licensing requirements. Nvidia was unable to ship an additional $2,5-billion of H20 revenue in the first quarter.
“Our breakthrough Blackwell NVL72 AI supercomputer — a ‘thinking machine’ designed for reasoning— is now in full-scale production across system makers and cloud service providers,” says Jensen Huang, founder and CEO of Nvidia.
“Global demand for Nvidia’s AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate.
“Countries around the world are recognizing AI as essential infrastructure — just like electricity and the internet — and Nvidia stands at the center of this profound transformation.”
The chip-maker is predicting revenue growth in the current quarter of 50% from the same period last year, to $45-billion.