US chip giant Nvidia reported record fiscal first-quarter revenue Wednesday and issued stronger-than-expected guidance as demand for artificial intelligence infrastructure continued to drive growth in its data center business.

The company said revenue for the quarter ended April 26 rose 85% from a year earlier and 20% from the previous quarter to $81.6 billion.

Data Center revenue reached a record $75.2 billion, up 92% year-on-year and 21% from the previous quarter, Nvidia said. Under its previous reporting categories, Data Center compute revenue hit $60.4 billion, while networking revenue rose to $14.8 billion.

“The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed,” Jensen Huang, founder and CEO of Nvidia, said in the company’s earnings statement.

Huang said, “Agentic AI has arrived,” adding that Nvidia is positioned at the center of the transformation as its platform runs “in every cloud” and scales from hyperscale data centers to the edge.

For the quarter, GAAP gross margin stood at 74.9%, while non-GAAP gross margin was 75%. GAAP diluted earnings per share were $2.39, while non-GAAP diluted earnings per share came in at $1.87.

Nvidia’s GAAP net income surged 211% from a year earlier to $58.3 billion, while non-GAAP net income rose 139% to $45.5 billion. Free cash flow stood at $48.6 billion, compared with $34.9 billion in the previous quarter and $26.1 billion a year ago.

The company said its board approved an additional $80 billion for share repurchases on May 18, without expiration. Nvidia returned around $20 billion to shareholders during the quarter through share buybacks and cash dividends and had $38.5 billion remaining under its repurchase authorization at quarter-end.

Nvidia also raised its quarterly cash dividend to $0.25 per share from $0.01. The dividend will be paid on June 26 to shareholders of record as of June 4.

For the second fiscal quarter, Nvidia said it expects revenue of $91 billion, plus or minus 2%. The company said the outlook does not assume any Data Center compute revenue from China.

Nvidia said it is shifting to a new reporting structure built around two market platforms: Data Center and Edge Computing. Within the Data Center, it will report hyperscale and ACIE, which includes AI clouds, industrial, and enterprise.

The company said Edge Computing revenue totaled $6.4 billion in the first quarter, up 29% from a year earlier and 10% from the previous quarter. Edge Computing includes data processing devices for agentic and physical AI, such as PCs, game consoles, workstations, robotics, automotive systems, and AI-RAN base stations. (AA)

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