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.
Coinbase is gearing up to broaden its futures trading capabilities, introducing round-the-clock contracts for Solana (SOL), XRP, and Cardano (ADA) starting June 13.
A new report from blockchain analytics firm Santiment highlights which DeFi projects have seen the most developer activity over the past month—and the leaderboard has shifted in unexpected ways.
Shiba Inu’s Shibarium team has launched an internal investigation into alleged rug pulls carried out by actors operating within the network.
BlackRock is reportedly preparing to purchase nearly 10% of the shares in Circle Internet Financial Ltd.’s upcoming IPO, expanding its existing role as manager of the Circle Reserve Fund, which backs USDC with roughly $30 billion in assets.