Nvidia once again beat Wall Street expectations, posting a record high revenues for the first quarter amount of $26 billion for fiscal year 2025, an boost of 262% compared to the previous year.
The chipmaker’s revenue for the quarter ending April 28 was up 18% from the previous quarter’s revenue of $22 billion, which also beat Wall Street’s sky-high expectations, and was up nearly 270% from a year earlier.
“The next industrial revolution has begun – companies and countries are working with NVIDIA to move trillion-dollar time-honored data centers to accelerated computing and build a modern type of data center – the AI factory – to produce a modern commodity: artificial intelligence” – Jensen Huang, founder and CEO of Nvidia, said in a statement. “Artificial intelligence will bring significant productivity gains to almost every industry and lend a hand companies become more cost and energy effective while increasing revenue opportunities.”
The company reported that quarterly data center revenue was a record $22.6 billion, up 23% from the previous quarter and a whopping 427% boost from the year before. These revenues were driven by forceful demand for Nvidia Hopper GPUs, graphics processing units that are used in training and developing leading immense language models (LLM), Nvidia said.
Demand for Nvidia H200 and Blackwell chips exceeds supply, Nvidia said in an earnings statement. Huang said Nvidia sees continued demand for Hopper despite concerns about its retention as customers wait for Blackwell.
The Blackwell platform will begin shipping in the second quarter, Huang announced on the company’s earnings call, adding that its development will occur in the third quarter and will be available to customers in the fourth quarter. He said Nvidia will see revenue from Blackwell this year.
Huang announced that Nvidia already has another chip available after Blackwell and added that it is working “on an annual basis” during the company’s earnings call.
Nvidia said gaming revenue rose 18% in the first quarter from a year earlier due to higher demand, but fell 8% from the previous quarter.
Ahead of the earnings report, the chipmaker’s share price fell about 0.4% to $949.50 at market close Wednesday evening, after closing at a record high of $953.86 the day before. Shares of the chipmaker rose more than 6% in after-hours trading, sending the company’s stock price to a modern all-time high and breaching the $1,000 mark.
Before the chipmaker last reported fourth-quarter earnings in February, he had seen them worst day on the stock market since October 2023 and the day before its earnings report, it has lost $78 billion in market value. The chipmaker’s share 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, Blackwellin March, Wall Street expectations for the company’s earnings report were high. However, some analysts were afraid of an interruption in Nvidia’s electricity orders tokens prior to possible shipment to Blackwell.
“We are ready for the next wave of growth,” Huang said, adding that the company’s Blackwell chips are “in full production and form the basis for trillion-parameter-scale generative artificial intelligence.”
Nvidia Tank chips, Blackwell’s predecessor behind some of the world’s most powerful artificial intelligence models, have made the company a leader the first chipmaker to achieve a market capitalization of $2 trillion in February and the third most valuable company in the world in March.
The chipmaker put its second-quarter revenue expectations at $28 billion, plus or minus 2%. The chipmaker also announced a 10-to-1 stock split in which shares will begin trading when the market opens on June 10.
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