Nvidia(US:NVDA) 智通财经网·2025-05-29 03:10Core Insights - Nvidia reported a 69% year-over-year revenue growth for FY26Q1, reaching $44 billion, driven by a significant increase in data center revenue, which grew 73% to $39 billion [1] - The company confirmed $4.6 billion in H20 revenue for the first quarter, but faced $2.5 billion in unfulfilled shipments, leading to a $4.5 billion impairment charge [1][3] - For Q2, Nvidia expects total revenue of $45 billion, factoring in an $8 billion reduction in H20 revenue due to export restrictions [1][8] Group 1: Financial Performance - Nvidia's overall revenue for FY26Q1 was $44 billion, a 69% increase year-over-year [1] - Data center revenue reached $39 billion, marking a 73% increase compared to the previous year [1] - The company anticipates Q2 revenue of $45 billion, with a potential variance of ±2% [1] Group 2: H20 Revenue and Impairment - H20 revenue for Q1 was confirmed at $4.6 billion, with $2.5 billion in shipments unfulfilled [3] - An impairment charge of $4.5 billion was recorded, primarily related to inventory and procurement commitments [3] - Future H20 revenue is expected to decrease by $8 billion in Q2 due to export restrictions [1][3] Group 3: Market Insights - Nvidia highlighted the importance of the Chinese market, noting it as a key player in the global AI landscape [1] - The company expressed concerns that isolating Chinese chip manufacturers from U.S. competition could enhance their international competitiveness [1] - Nvidia estimates a potential market size of $50 billion that may remain uncovered due to current export restrictions [3] Group 4: AI Infrastructure and Growth - AI is viewed as a transformative technology across various industries, requiring substantial infrastructure for deployment [4][5] - The company is entering a new phase of AI adoption, with inference capabilities becoming a critical component of computational workloads [5] - Nvidia is focusing on enterprise AI solutions, with products designed for local deployment and integration with existing IT systems [15] Group 5: Future Outlook - The demand for inference AI is experiencing exponential growth, indicating a significant shift in the AI landscape [9] - Nvidia is expanding its supply chain and production capacity to meet increasing customer demand for AI infrastructure [7] - The company is optimistic about future growth, driven by advancements in AI technology and infrastructure development [9][14]