Nvidia topped first-quarter earnings expectations but cut its second-quarter outlook, citing an $8 billion blow from tighter U.S. export rules on AI chips to China.
Nvidia beat Wall Street expectations for its fiscal first-quarter earnings but forecast second-quarter revenue below estimates, citing an expected $8 billion sales hit from tightened U.S. restrictions on AI chip exports to China.
Despite the outlook, shares of the world’s most valuable semiconductor firm rose 3% in extended trading. The stock remains mostly flat for the year, a sharp contrast to 2024 when it nearly tripled in value.
Nvidia now faces tougher U.S. trade restrictions that limit what it can sell to China, one of the largest semiconductor markets. The company had previously estimated a $5.5 billion charge from halted H20 chip exports to China, but the actual impact was $1 billion lower in the first quarter due to reused materials. Nvidia lost $2.5 billion in H20 sales during the quarter and expects an $8 billion shortfall in the current quarter.
On an adjusted basis, Nvidia earned 81 cents per share in Q1. Excluding export-related charges, earnings would have been 96 cents—above the 93-cent analyst consensus, according to LSEG data.
For Q2, Nvidia projects revenue of $45 billion, plus or minus 2%, slightly below the $45.9 billion average estimate.
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One person was killed and nearly a dozen hurt in a fresh attack on Riyadh's international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen's Houthis killed 13 people and wounded more than 300.
The Saudi-led coalition in Yemen said late Monday that it intercepted and destroyed two ballistic missiles launched by the Houthi group toward Khamis Mushait in southwestern Saudi Arabia.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
The Kremlin on Monday rejected a 60-day ceasefire idea proposed by Ukrainian President Volodymyr Zelenskyy to allow his country to hold presidential elections, saying it wanted an overall peace deal instead.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling to accept the energy ceasefire announced by U.S. President Donald Trump.
Asian stocks plunged to their lowest level in more than two months on Tuesday as advances by Chinese chipmakers rattled investor confidence in the artificial intelligence boom, despite soaring global semiconductor sales.
Artificial intelligence investment is helping sustain global growth at around 3 per cent, with Asia poised to reap major benefits. But soaring energy costs, unequal investment and growing pressure on young workers threaten to leave some economies behind.
Uzbekistan and Russia have a portfolio of more than 200 joint projects worth almost $6 billion, as the two countries continue to expand regional and business ties. The projects were discussed during the third meeting of the Council of Regions of Russia and Uzbekistan, held in Fergana, Uzbekistan.
In the marshlands of Malluba in southern Azerbaijan, Kamil Mammadov follows a routine that has been passed down through generations. His family has worked with medicinal leeches for centuries, harvesting and breeding a species known as Hirudo orientalis, or the Caucasian medicinal leech.
Baku is hosting the second Azerbaijan International Investment Forum (AIIF 2026) and it’s attracting more interest this year, Azerbaijan’s Deputy Prime Minister told AnewZ. “The agenda is very impressive. More guests, more interest,” he said.
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