In the first quarter, the company earned $44.1 billion, nearly a 70% increase, and a profit of $0.81 per share. The firm expects more than $45 billion in the second quarter, with at least a margin of plus or minus 2%. However, the quarterly results will be published on August 27.
The demand for AI chips has increased the company's stock more than fifteen times in the last five years. Last month, the silicon-based chip manufacturer saw its stock rise over 15% and 22% since the beginning of the year.
Earlier this year, the company had concerns about China's DeepSeek model, which implied that its future AI systems might require fewer chips. Most AI startups, especially chatbots, heavily rely on Nvidia chips. If DeepSeek decides to reduce its chip usage, the American firm will see a decline in sales and could even influence other chatbots to follow suit.
Once again, new export restrictions were imposed on its H20 chips specifically designed for the Chinese market in May. The company even projected that the controls would cost $8 billion in lost revenue. Jensen Huang, the company's CEO, urged the government to reconsider its decision, saying it could harm America's tech market in China.
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