#NvidiaQ1RevenueLiftsBitcoinMiners
Bitcoin miners tied to AI rise as Nvidia posts big earnings beat and strong outlook
Nvidia's stronger-than-expected results and bullish AI outlook lifted crypto mining stocks tied to data center and high-performance computing demand, even as the chipmaker's shares fell due to growth concerns.
What to know:
Nvidia reported first-quarter revenue of $81.62 billion, up 85 percent from a year earlier and above Wall Street expectations, as AI infrastructure demand continued to surge.
Data Center now accounts for more than 90 percent of Nvidia’s revenue, prompting the company to reorganize its reporting into two segments: Data Center and Edge Computing.
Nvidia forecast roughly $91 billion in revenue for the current quarter, announced an $80 billion stock buyback and a sharply higher dividend, and said its outlook excludes any Data Center compute revenue from China.
Investors have closely watched Nvidia’s earnings for signs that spending on AI infrastructure remains strong despite growing questions about how quickly companies will turn those investments into profits.
So far, Nvidia’s results suggest demand continues to outpace expectations, which might be positive for data center providers.
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