Chip-making giant Nvidia reported mixed results in its Q1 earnings, surpassing revenue expectations but falling short on income due to US export restrictions to China. In the first quarter of the 2026 fiscal year, Nvidia's revenue reached $44.1 billion, a 12% increase from the previous quarter and 69% from a year ago, exceeding analyst estimates. However, the earnings per share of 81 cents missed the expected 85 cents. The net income rose to $18.8 billion, up 26% from the previous year. The lower income was attributed to a $4.5 billion charge related to export restrictions on its H20 AI chips to China. Nvidia anticipates Q2 revenues of around $45 billion, reflecting an $8.0 billion loss in H20 revenue due to export controls. The company plans to introduce a new affordable AI chip for China. Nvidia's data center revenue, mainly from the firm's total revenues, reached $39.1 billion, up 10% from the previous quarter. Read more AI-generated news on: https://app.chaingpt.org/news

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