Nvidia has reported record first-quarter revenue of $48.2 billion, driven almost entirely by AI data centre chip sales. The result exceeded analyst estimates by 14% and sent shares up 8% in after-hours trading.
CEO Jensen Huang described the demand environment as 'the strongest we have ever seen.' The company's H200 and upcoming B100 chips continue to see multi-quarter order backlogs from every major hyperscaler.
Data centre revenue reached $41.3 billion, representing 86% of total revenue. Gaming revenue held steady at $3.8 billion, while automotive and professional visualisation contributed the remainder.
Nvidia raised its Q2 guidance to $52 billion, implying continued acceleration. The company now expects full-year 2026 revenue to exceed $200 billion for the first time.
The results reinforce the narrative that AI infrastructure spending is not a bubble but a structural shift. Every major technology company — Microsoft, Google, Amazon, Meta, Oracle — is simultaneously expanding AI compute capacity.
Supply constraints remain the primary challenge. Nvidia acknowledged that it cannot fulfil all current orders and that some customers will wait 6-9 months for delivery of the newest chip configurations.