Nvidia has done it again: another record quarter, another set of numbers that make the rest of the chip industry look as if it is standing still. The company said first-quarter fiscal 2027 revenue reached $81.6 billion, powered by relentless demand for AI hardware, while net profit jumped to $58.3 billion.
The size of the beat matters less than the direction of travel. Nvidia is still the clearest winner from the global rush to build AI infrastructure, and its latest forecast suggests that spending is not cooling off yet. The company projected $91 billion in revenue for the current quarter, even while assuming nothing from China.
Nvidia data centre sales keep carrying the company
The real engine is Nvidia’s data centre business, which brought in a record $75.2 billion. That figure rose 92% from a year earlier, and it is the clearest sign that AI buildouts at cloud providers and large tech firms are still absorbing every processor they can get.
- Total quarterly revenue: $81.6 billion
- Net profit: $58.3 billion
- Data centre revenue: $75.2 billion
- Current-quarter revenue forecast: $91 billion
Nvidia’s China problem is still hanging over the forecast
Nvidia’s outlook was striking for what it left out: no data centre revenue from China. That is not a footnote, but a live constraint, because Washington has restricted some high-end chip sales and Beijing is pushing harder on domestic alternatives. For now, the company is treating China as upside rather than base case.
Jensen Huang said this week that he expects China to eventually reopen to advanced U.S. AI chips. Maybe. But the current reality is messier, and Nvidia’s own guidance suggests it is preparing for another quarter without that market in the mix.
Why investors are still split on the AI surge
Wall Street has been hunting for cracks in the AI spending boom for months. Nvidia keeps refusing to provide them. Since its February earnings report, the company has disclosed a $10 billion investment in Anthropic, a deal with Meta, and a commitment with CoreWeave targeting five gigawatts of AI facilities by 2030.
That is both a strength and a warning sign. Nvidia is not just selling shovels anymore; it is now helping finance the mine. Investors liked the numbers less than the headline might suggest, with shares slipping more than 1% in after-hours trading. The market is clearly still asking the same awkward question: how long can this pace last?