Nvidia Reports 69% Revenue Growth in Q1, Shares Rise on Earnings Beat

Nvidia (NVDA) shares jumped about 4% in after-hours trading Wednesday following the announcement of stronger-than-expected first-quarter earnings and revenue.

The tech giant posted a 69% increase in revenue compared to the same quarter last year, driven by a 73% year-over-year surge in its data center segment. Net income rose 26% to $18.8 billion.

This positive earnings report helped Nvidia’s stock notch a modest gain for the year to date and a roughly 20% increase compared to last year.

Following the earnings release, several AI-focused cryptocurrencies—including Bittensor, NEAR Protocol (NEAR), and Internet Computer (ICP)—saw minor gains, though they remained lower on the day overall. The robust demand for AI solutions was a key factor behind the growth in Nvidia’s data center revenue.

Looking ahead, Nvidia cautioned that ongoing trade tensions and tariffs between the U.S. and China may cause second-quarter revenue to fall short of analyst expectations.