Nvidia reported its quarterly earnings on May 22 — and once again beat all expectations. Revenue in Q1 (fiscal year 2027, ended April 26, 2026) came in at $81.6 billion. That’s up 20 percent from the prior quarter and 85 percent year over year.
The Forecast: $91 Billion
Even more impressive than the actual numbers is the outlook. Nvidia expects roughly $91 billion in revenue for Q2 — well above what Wall Street had anticipated. The AI boom isn’t slowing down. It’s accelerating.
$80 Billion Stock Buyback
On top of the strong numbers, Nvidia announced an $80 billion stock buyback program. That’s a clear signal to shareholders: the company has so much cash that it can invest massively and return capital to investors at the same time.
What’s Driving the Numbers
Demand for Nvidia’s AI chips — led by the Blackwell generation — continues to outstrip supply. Every major AI company, whether Anthropic, OpenAI, Google, or Meta, is expanding its data centers. And Nvidia supplies the hardware.
Add to that the investment announcements from recent weeks: Alphabet is planning $190 billion for AI infrastructure. Anthropic signed a $200 billion cloud deal with Google Cloud. OpenAI is raising hundreds of billions. A huge chunk of all that money ultimately flows to Nvidia.
The Question Behind the Numbers
Can this continue? The AI investment wave — if it’s a bubble — has made Nvidia the most valuable company in the world. As long as the big AI companies keep growing and building, Nvidia benefits. But if demand eventually softens or alternative chip architectures catch up, growth could stall.
Until then, the numbers are simply stunning.
Sources: SEC 8-K Filing, GuruFocus