Nvidia Revenues Up 69 Percent to $44.1 Billion

Nvidia reported a net income of $18.8 billion on revenues of $44.1 billion in the quarter ending April 27, 2025. Those figures represent gains of 26 percent and 69 percent, respectively, year-over-year (YOY), which is shocking when you consider that U.S. export rules preventing the company from selling some of its products in China went into effect during the quarter.

“Our breakthrough Blackwell NVL72 AI supercomputer, a ‘thinking machine’ designed for reasoning, is now in full-scale production across system makers and cloud service providers,” Nvidia founder and CEO Jensen Huang said. “Global demand for Nvidia’s AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate. Countries around the world are recognizing AI as essential infrastructure, just like electricity and the internet, and Nvidia stands at the center of this profound transformation.”

Thanks to the new U.S. export rules, Nvidia was hit with a $4.5 billion in charge in early April because of excess inventory and an inability to complete its obligations to customers in China. It sold $4.6 billion in H20 processor products in the quarter, but would have sold another $2.5 billion worth if it weren’t for the new restrictions.

Nvidia saw $39.1 billion in revenues from its Data Center business in the quarter, a gain of 73 percent YOY. Gaming and AI PC revenues were $3.8 billion, a record, and up 42 percent YOY. Professional Visualization revenues were $509 million, up 19 percent. And Automotive and Robotics revenues hit $567 million, up 72 percent.

Looking ahead, Nvidia expects revenues in the current quarter to be roughly $45 billion, about $8 billion less than would be the case without the China sales restrictions. But Nvidia’s stock price gained 5 percent, with U.S. Big Tech companies like Amazon, Google, Meta, and Microsoft expected to purchase a combined $345 billion in Nvidia hardware in 2025.

Nvidia lashed out at the chaotic, nonsensical trade policies of the United States.

“With half of the world’s AI researchers based [in China], the platform that wins China is positioned to lead globally,” Mr. Huang said during the firm’s post-earnings conference call. “Shielding Chinese chip makers from U.S. competition only strengthens them abroad.”