Nvidia reported strong financial results for the first quarter of 2026 for the period ended April 27, 2025, which led to a 4.8% increase in its shares in after-hours trading.
The chipmaker reported revenue of $44.1 billion, up 69% year-on-year, and net income of $18.7 billion, up 26% from last year.
The data center division led the way with $39.1 billion, or 88% of total revenue. Gross margin was 61%, but would have reached 71.3% had it not been for $4.5 billion in expenses related to restrictions on exports of H20 products to China. This also reduced earnings per share from the forecast $0.96 to $0.81.
CEO Jensen Huang said global demand for artificial intelligence infrastructure is accelerating, with AI token generation increasing tenfold in a year. He compared AI computing to vital infrastructure comparable to electricity or the internet.
The news had little effect on AI tokens. The sector’s market capitalization rose only 0.6%, according to CoinGecko. NEAR and FET rose more than 5%, while GRASS fell 5.7%.
The cautious reaction follows a broader cooling off after Nvidia’s key announcement at GTC earlier this year.
JPMorgan and other major U.S. banks are under fire for a lawsuit aimed at dismantling the Consumer Financial Protection Bureau’s (CFPB) newly established “Open Banking Rule.”
The crypto market remains firmly in “Greed” territory, with CoinMarketCap’s Fear & Greed Index clocking in at 69/100 on July 19. Despite a modest 24-hour dip from 71, the index has now held above 60 for 11 consecutive days.
The crypto industry saw major advancements this past week across DeFi, NFT, Layer 2, and AI-powered platforms.
Cryptocurrency exchange Bullish, backed by billionaire investor Peter Thiel, has officially filed for an initial public offering (IPO), marking a major step toward entering the public markets.