Nvidia hits record $81.6 billion revenue as AI boom shows no sign of slowing

[midian182]

What just happened? If the AI boom really is a bubble that will one day pop, it hasn't happened yet. Nvidia, the driving force behind the hardware powering most of the AI industry, once again surpassed Wall Street expectations in its quarterly results, hitting a record $81.6 billion in revenue.

Americans might rather live next to a nuclear power plant than a data center, but Nvidia CEO Jensen Huang hailed the pace at which these facilities are being built. "The buildout of AI factories – the largest infrastructure expansion in human history – is accelerating at extraordinary speed," he said.

Huang also mentioned another controversial element of AI, one which has contributed to layoffs at companies like Meta and Block. "Agentic AI has arrived, doing productive work, generating real value, and scaling rapidly across companies and industries."

Nvidia CFO Colette Kress summed up the situation this way: "Customers do not buy GPUs; they build AI factories & the right economic metric is not the purchase price of the GPU. It is the lifetime cost of an AI factory producing intelligence: tokens per watt, tokens per dollar, uptime, utilization, time to production, software durability & asset life. NVIDIA excels at all of them."

– The Transcript (@TheTranscript_) May 20, 2026

For Nvidia, this all means a very healthy bottom line. The chip giant said net income for the February-April quarter reached $58.32 billion, or $2.39 per share, compared with $18.78 billion, or 76 cents per share, a year earlier. On an adjusted basis, Nvidia earned $1.87 per share. Revenue, meanwhile, surged 85% year-over-year, climbing to $81.62 billion from $44.01 billion.

Those results exceeded analysts' expectations of $1.76 per share and revenue of $78.91 billion. For the current quarter, Nvidia forecast revenue of about $91 billion, ahead of analysts' expectations of $87.29 billion.

Data: App Economy Insights

Unsurprisingly, most of the previous quarter's income came from Nvidia's data center division. It delivered another record quarter with revenue of $75.2 billion, a 92% year-over-year increase.

Another sign of how Nvidia has changed from gaming-first to AI-first is the way it now talks about its business. The company is moving to a new reporting framework built around two main market platforms: Data Center and Edge Computing. The latter is a broad category covering PCs, game consoles, workstations, AI-RAN base stations, robotics, and automotive, meaning sales of consumer and professional graphics cards will no longer be broken out as separate product categories in the same way.

That does not mean Nvidia's graphics business is disappearing, though. The company still listed Graphics as a reportable segment in its CFO commentary, where it generated $7.1 billion in revenue during the quarter, up 58% from a year earlier.

Despite another record-breaking quarter, Nvidia's share price dipped in after-hours trading from $223 to $220. It seems some investors remain worried that Team Green's AI-fueled winning streak can't last forever. Its market cap has climbed from about $365 billion at the end of 2022, before the AI boom truly took hold, to $5.47 trillion today – making Nvidia the most valuable company in the world. The fear is that a downturn will eventually arrive.

Nvidia's five-day share price

There are other concerns, too. Nvidia said its outlook assumes no data center compute revenue from China, while some of its biggest customers, including Amazon, Alphabet, and Microsoft, are spending heavily on their own AI chips. For now, though, the numbers suggest Nvidia remains the company everyone else is chasing.

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Nvidia hits record $81.6 billion revenue as AI boom shows no sign of slowing

 

[TooQik]

Nvidia is definitely making hay while the suns shines.

 

[Hecate91]

Interesting how Nvidia removed gaming as a revenue segment entirely, everything but datacenter and AI is now "edge computing".

 

[poohbear]

Interesting how Nvidia removed gaming as a revenue segment entirely, everything but datacenter and AI is now "edge computing".

Wouldnt u do the same if gaming is only 5.5% of your total revenue? Things change, when things change. Nvidia stopped being a "gaming" company long ago.

 

[Rapob]

But but but AI CRASH SOON I read on this forum !!

Mostly from people who completely missed the train and are now too afraid to get on, because they’ve convinced themselves that a crash is just around the corner.

 

[gdavid65]

Slowed considerably when compared to expectations... beware the cheer leaders.

There are plenty that can produce AI chips, it has just taken a while to catch up.. Google/Amazon/etc is NOT using nvidia chips for their future.

 

[Theinsanegamer]

But but but AI CRASH SOON I read on this forum !!

Mostly from people who completely missed the train and are now too afraid to get on, because they’ve convinced themselves that a crash is just around the corner.

Enron hit all time highs right before it burned. You should get on that train before it leaves you behind!

Interesting how Nvidia removed gaming as a revenue segment entirely, everything but datacenter and AI is now "edge computing".

Gamers do nothing but bawl about Nvidia, so Nvidia should frankly stop selling them cards. AMD too. Gamers shouldn't be allowed to bug anything but APUs nowadays, and not the big strix halos either.

 

[Rapob]

Slowed considerably when compared to expectations... beware the cheer leaders.

There are plenty that can produce AI chips, it has just taken a while to catch up.. Google/Amazon/etc is NOT using nvidia chips for their future.

Both Google and Amazon uses tons of Nvidia GPUs. Their own solutions are far inferior.

The best alternative for Nvidia GPUs is AMD GPUs.

No-one comes even close.

Besides, even if an upcoming company would pull a rabbit out of the hat, Nvidia/AMD would simply buy them. They would not have the funds to use peak-nodes anyway (as in top tier TSMC nodes). No peak node = No threat - TSMC have no room for small players. Capacity is already sold out for months and years.

Also, they would not be able to buy memory either.

Google’s and Amazon’s AI chips are so weak on performance per dollar that even they don’t want to rely on them internally.

 

[Rapob]

Enron hit all time highs right before it burned. You should get on that train before it leaves you behind!

Gamers do nothing but bawl about Nvidia, so Nvidia should frankly stop selling them cards. AMD too. Gamers shouldn't be allowed to bug anything but APUs nowadays, and not the big strix halos either.

Enron, 25 years ago? Hard to invest in a dead company tho, no comparison really.

 

[Theinsanegamer]

Enron, 25 years ago? Hard to invest in a dead company tho, no comparison really

R/woooooosh

The point was not to literally invest in Enron.

 

[Rapob]

R/woooooosh

The point was not to literally invest in Enron.

The fun thing here is that you think we did not get smarter in 25 years and learned from the financial crisis.

Back then, it was easy to manipulate accounting records and stock prices. That doesn’t happen at large companies today.

A company like Nvidia is constantly under scrutiny — people are watching it closely all the time. Orders are known. The financials speak for themselves.

 

[Hecate91]

Wouldnt u do the same if gaming is only 5.5% of your total revenue? Things change, when things change. Nvidia stopped being a "gaming" company long ago.

I suppose it looks better to not have whatever few percent gaming is to the shareholders, but I wouldn't ignore the market that built the company.

Gamers do nothing but bawl about Nvidia, so Nvidia should frankly stop selling them cards. AMD too. Gamers shouldn't be allowed to bug anything but APUs nowadays, and not the big strix halos either.

Those horrible gamers is why Nvidia even exists, Nvidia wouldn't be losing much by dropping dedicated GPUs entirely, to sell the gaming market a cloud gaming subscription instead.
Though at least AMD still somewhat cares about the gaming market, they have to because they don't have a gaming fanbase shielding them with a can do no wrong attitude as what still occurs with Nvidia despite things like purposely limiting supply, buggy drivers, or a defective power connector requiring third party bandaid fixes.
An APU would probably be fine for most games if devs would actually optimize games, especially the UE garbage that publishers launch using upscaling and frame gen as a performance crutch. The PS5 and Xbox are technically APUs, which work fine for most gamers not spending $2,000 to build a PC.

 

[Rapob]

Those horrible gamers is why Nvidia even exists, Nvidia wouldn't be losing much by dropping dedicated GPUs entirely, to sell the gaming market a cloud gaming subscription instead.
Though at least AMD still somewhat cares about the gaming market, they have to because they don't have a gaming fanbase shielding them with a can do no wrong attitude as what still occurs with Nvidia despite things like purposely limiting supply, buggy drivers, or a defective power connector requiring third party bandaid fixes.
An APU would probably be fine for most games if devs would actually optimize games, especially the UE garbage that publishers launch using upscaling and frame gen as a performance crutch. The PS5 and Xbox are technically APUs, which work fine for most gamers not spending $2,000 to build a PC.

Why do you think Nvidia switched to an unified GPU architecture? Just like AMD will do next time, when UDNA hits. RDNA and CDNA unfied.

Consumer stuff is just heavily downgraded enterprise stuff these days. Same arch, same drivers or close, same development teams.

Neither Nvidia or AMD is leaving the consumer space just because Enterprise has more money. They make money here. Enterprise always had more money. Nothing has changed.

Nvidia sold gaming GPUs for billions last year. Around 11 billion USD if I remember correctly. You expect Nvidia to say no thanks to money? No company will. Nvidia dominates GPU market regardless of segment. Gaming, Enterprise, AI - They dominate.

Nvidias biggest problem is production. TSMC and memory is the bottleneck.

The reason you don't see AMD come rushing for gaming GPU marketshare, is because they chase AI marketshare too. AMD could have made a much better flagship than 9070 XT this generation, if they cared. They did not. They even cancelled the biggest SKU, that probably would have beaten 5080, for sure in rasterization perf.

 

[Theinsanegamer]

The fun thing here is that you think we did not get smarter in 25 years and learned from the financial crisis.

Well given that people are still falling for the snake oil salesmen on the stock market and making the same mistakes, no, we have not learned.

Back then, it was easy to manipulate accounting records and stock prices. That doesn’t happen at large companies today.

ROFLMAO.

A company like Nvidia is constantly under scrutiny — people are watching it closely all the time. Orders are known. The financials speak for themselves.

Which is why we know their inventory increased 4x last year, despite all these sales. Doesn't make a lick of sense.

Also why did you delete your line about being a millionaire? Did you realize it made you look absolutely ridiculous?

I suppose it looks better to not have whatever few percent gaming is to the shareholders, but I wouldn't ignore the market that built the company.


Those horrible gamers is why Nvidia even exists, Nvidia wouldn't be losing much by dropping dedicated GPUs entirely, to sell the gaming market a cloud gaming subscription instead.
Though at least AMD still somewhat cares about the gaming market, they have to because they don't have a gaming fanbase shielding them with a can do no wrong attitude as what still occurs with Nvidia despite things like purposely limiting supply, buggy drivers, or a defective power connector requiring third party bandaid fixes.

Gamers do nothing but whine, AMD and Nvidia should abandon them, since they're so eviiiiil and all.

An APU would probably be fine for most games if devs would actually optimize games, especially the UE garbage that publishers launch using upscaling and frame gen as a performance crutch. The PS5 and Xbox are technically APUs, which work fine for most gamers not spending $2,000 to build a PC.

That is not how optimization works. With better optimizations....dGPUs would still be able to put out better visuals at higher frame rates.

Gamers need to figure out how scaling works as a concept.

 

[Rapob]

Well given that people are still falling for the snake oil salesmen on the stock market and making the same mistakes, no, we have not learned.

ROFLMAO.

Which is why we know their inventory increased 4x last year, despite all these sales. Doesn't make a lick of sense.

Also why did you delete your line about being a millionaire? Did you realize it made you look absolutely ridiculous?

Gamers do nothing but whine, AMD and Nvidia should abandon them, since they're so eviiiiil and all.

That is not how optimization works. With better optimizations....dGPUs would still be able to put out better visuals at higher frame rates.

Gamers need to figure out how scaling works as a concept.

Spoken like someone who completely missed the train.

No crash is coming. Lets talk in months/years. Meanwhile I will continue to make millions.

Even if a crash would come, I am secured for life, like most of my friends and family that I helped to make dime during the last 10 years.

Boggles my mind that people can miss out on the biggest boom in history. While rambling about bubbles and crashes. While refering to 25 year old events. AI is the future. AI is not going anywhere from here. It will only grow. You have seen nothing yet.

FOMO victims is the only people rambling about a crash. Mostly because they did not make money and now can't afford high-end hardware anymore. They hope AI to crash so they can buy cheap gaming hardware again. Hahah. Get real please.

 

[Hecate91]

Why do you think Nvidia switched to an unified GPU architecture? Just like AMD will do next time, when UDNA hits. RDNA and CDNA unfied.

Consumer stuff is just heavily downgraded enterprise stuff these days. Same arch, same drivers, same development teams.

Neither Nvidia or AMD is leaving the consumer space just because Enterprise has more money. They make money here.

Nvidia sold gaming GPUs for billions last year. Around 11 billion USD if I remember correctly. You expect Nvidia to say no thanks to money? No company will. Nvidia dominates GPU market regardless of segment. Gaming, Enterprise, AI - They dominate.

The reason you don't see AMD come rushing for gaming GPU marketshare, is because they chase AI marketshare too.

Consumer hardware has always been the left over enterprise parts, that isn't anything new.

Nvidia counted that $11 billion revenue as "gaming and AI PC" sales, so unless you have numbers on how much was for gaming cards alone, there aren't any gaming revenue results and Nvidia won't admit how many gaming cards they sold.
Nvidia is selling golden shovels regardless, especially when they're colluding with the US govt for datacenter expansions, threatening states to sue if they refuse to build them, of course with no concerns if the infrastructure to supply datacenters with power or water exists.
And of course AMD would be stupid not to join the golden shovel selling while digging holes is still profitable, AMD needs to for their sheer survival while Nvidia is pushing their influence onto Intel.

 

[Hecate91]

Gamers do nothing but whine, AMD and Nvidia should abandon them, since they're so eviiiiil and all.

Ah yes those awful whiny gamers, how dare the market which built them off their backs want to buy a new GPU, but only get told to pound sand because the AI bubble is making them record profits.

That is not how optimization works. With better optimizations....dGPUs would still be able to put out better visuals at higher frame rates.

Gamers need to figure out how scaling works as a concept.

That's exactly how optimization works, instead of 8K textures and forced ray traced lightning, devs go back to simpler textures and pre-baked lighting, but that would take effort and money AAA game publishers don't want to spend on.
Gamers need to figure out how games used to be made and stop buying poorly optimized games until companies listen.

 

[Endymio]

Enron hit all time highs right before it burned. You should get on that train before it leaves you behind!

A absurdly puerile comparison. Enron was one of thousands of energy firms, all of which survived and thrived after Enron crashed. And Enron's downfall wasn't the result of the energy sector crashing, but a simple case of accounting fraud. Do you believe NVidia is falsifying the fact they're selling billions of dollars of GPUs each quarter?

 

[Rapob]

A absurdly puerile comparison. Enron was one of thousands of energy firms, all of which survived and thrived after Enron crashed. And Enron's downfall wasn't the result of the energy sector crashing, but a simple case of accounting fraud. Do you believe NVidia is falsifying the fact they're selling billions of dollars of GPUs each quarter?

You are right. And what I pointed out too. This will never happen at a top company today. Pretty much impossible to do. Nvidia is constantly in the spotlight. All eyes on them.

 

[VariableSpike]

I wonder if this is actual revenue, or reported revenue based on future orders, if its the latter, I'd be more worried since that requires the people ordering to actually pay for the orders as they are supposed to (and considering OpenAI's CFO was suggesting they might not have the money for said future orders, that is a clear problem), pair that with Nvidia's continued oddities with circular investments and funding and some other weirdness with some "charitable" foundation Jensen has set up that is weaved into Nvidia's financials, its not as rocky as it seems

 

[Endymio]

I wonder if this is actual revenue, or reported revenue based on future orders, if its the latter, I'd be more worried since that requires the people ordering to actually pay for the orders

According to the basic principles of GAAP, revenue is booked when it's earned (when the goods are actually delivered), not when the order is placed.

 

[MonicaPython2]

Buildout of AI factories is just a proof that AI matters

 

[Rapob]

AI don't generate money people say, yet Anthropic pays $15 billion a year to access xAI datacenters. Tons of deals like this. They don't build datacenters left and right for fun. They try to meet demand.

Eventually they probably will, but it will take years and years. This won't result in a crash anyway, as demand will persist, just slow down slightly.

A true crash would imply demand collapses to near zero almost overnight - not going to happen.

What will probably happen tho, is that Nvidia will get more and more competition over the coming years. Won't change that demand is much higher than the actual production.

 

[Eldrach]

I think we'll see more and more LLM "tops" focused cards going forward. Instead of releasing a pure successor to Nvidia RTX PRO 6000, you'll get cards stripped of anything but token generation.
They'll be cheaper to make, draw less power and still do the job expected of them.
This, of course - will further dampen development on gpu tech that would drip down on gamers - but that's the future we're looking at.

 

[Endymio]

This, of course - will further dampen development on gpu tech that would drip down on gamers - but that's the future we're looking at.

Yes, it's a sad, painful future we're facing: we'll develop new drugs and medical treatments, create new lighter, stronger, more durable materials, make new discoveries in everything from archeology to cosmology, and turbocharge the productivity of transportation, agriculture, and manufacturing-- but gamers will have to limp along in the same frame rates in Counterstrike as they've were forced to endure in 2025.

Luckily that isn't true. In five years, you'll be gaming on GPUs designed by the very AI you deride, and produced in sub-2nm fabs funded by AI demand.