Nvidia shares jumped nearly 5% in after-hours trading. The chipmaker reported exceeded expectations on the top and bottom lines in the first quarter, as its data center business recorded year-over-year growth of 73%.
- Nvidia made it clear on Wednesday that its financial performance would’ve been even more impressive if it had been able to sell its AI chips to China.
- Nvidia said it left $2.5 billion of revenue on the table in the quarter due to H20 chips that couldn’t be sold due to export controls.
- CEO Jensen Huang said China would “move on” with or without Nvidia’s chips.
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