NVIDIA Corporation (NVDA) Q1 2026 Earnings Report

NVIDIA delivered a standout first quarter of fiscal 2026, underscoring the company’s leadership in AI infrastructure and inference at scale. Revenue totaled $44.06 billion, up 69% year over year, with data center revenue of $39.0 billion up 73% YoY, driven by the Blackwell ramp and the GB200/GB300 architecture family. Despite a $4.5 billion write-down related to H20 inventory tied to China export controls and an inability to ship approximately $2.5 billion in H20 in Q1, management highlighted robust demand for AI inference workloads, continued enterprise AI adoption, and a multi-year product cadence through 2028. Management emphasized the rapid transition from generative to agentic AI, a sustained trajectory for AI factory deployments, and a broad onshore manufacturing push to support AI infrastructure globally. The company reaffirmed its near-term guidance for Q2 revenue of $45 billion ±2% and signaled a path toward gross margins in the mid-70s later this year, supported by Blackwell profitability and ongoing capacity expansion. The quarter also showcased expansive discussions around sovereign AI and on-prem enterprise AI, with a roadmap spanning RTX Pro, DGX Spark, DGX Station, Omniverse, and Cosmo/ Nemo frameworks, positioning NVIDIA to monetize AI across data center, cloud, enterprise IT, industrial AI, and robotics deployments.