Nvidia (NVDA) delivered another blockbuster quarter on Wednesday, with AI infrastructure spending pushing revenue, profit and cash flow to record levels. First-quarter revenue hit $81.62 billion, up 85% year-over-year and topping Wall Street forecasts of $78.9 billion. Adjusted earnings per share came in at $1.87, beating the $1.76 consensus. The company guided current-quarter revenue to roughly $91 billion, also above expectations.
The board authorized an additional $80 billion in share buybacks and raised the quarterly dividend from $0.01 to $0.25 per share. Despite the beats and shareholder returns, the stock traded about 1.5% lower after hours, likely reflecting growing competition in the AI chip market and concern over future growth sustainability.
Bitcoin Miners with AI Exposure See Modest Gains
Shares of bitcoin miners that operate AI and HPC infrastructure moved modestly higher following Nvidia's report. Core Scientific (CORZ) and Cipher Mining (CIFR) each edged up in after-hours trading, as investors continue to view certain miners as potential beneficiaries of rising demand for data centers, power capacity and AI computing. IREN (IREN) initially rose but later slipped about 1%.
Data Center Revenue Drives Growth
Nvidia's Data Center segment remained the main engine. CFO Colette Kress said hyperscalers generated roughly $38 billion of the $75 billion Data Center revenue, up 12% sequentially. The remaining $37 billion came from the newly defined ACIE segment, which includes AI cloud providers, industrial customers and enterprise markets. AI cloud revenue more than tripled from a year ago, as Nvidia helped expand AI computing capacity across over 80 data centers each with more than 10 megawatts of capacity.
CEO Jensen Huang stated: "The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed. Agentic AI has arrived, doing productive work, generating real value and scaling rapidly across companies and industries." For bitcoin miners pivoting to data center operations, this trend underscores the value of their power and site assets, potentially unlocking a second growth curve alongside digital asset mining.