Nvidia’s Earnings Crush Forecasts as AI Infrastructure Spending Hits Overdrive

Nvidia once again shattered Wall Street’s revenue projections, posting $81.62 billion for the first quarter of fiscal 2026—well above the $78.86 billion analysts expected. The chipmaker also delivered $1.87 per share, topping the $1.76 consensus estimate. These results underscore that the massive buildout of AI data centers shows no signs of slowing.

CEO Jensen Huang framed the moment as part of “the largest infrastructure expansion in human history,” pointing to the rise of agentic AI and robotics as catalysts. Nvidia’s data center business alone grew 92% year-over-year to a record $75.2 billion, even as competitors like Amazon and Google develop their own chips.

Big Tech is collectively planning to spend roughly $750 billion on AI infrastructure this year, much of it on specialized chips. Huang expects Nvidia to outpace even hyperscaler capex growth. The company also announced Vera Rubin, a next-generation AI platform due in the second half of 2026, which Huang predicted would be supply-constrained throughout its lifecycle.

On the geopolitical front, Nvidia’s China strategy remains uncertain. Despite U.S. approval to export H200 chips with a 25% tariff, CFO Colette Kress confirmed no revenue from China sales to date, as Beijing has yet to greenlight imports. Huang expressed cautious optimism that the market would eventually open.

Meanwhile, Nvidia is expanding in Southeast Asia. Singapore announced a new Nvidia research hub focused on making AI infrastructure more efficient. With OpenAI and Anthropic CEOs citing Nvidia’s hardware as essential for safe, large-scale model deployment, the company continues to sit at the center of the AI revolution.