Nvidia's Q1 revenue jumped 85% to $81.62 billion, exceeding analyst expectations of $78.91 billion, driven by AI chip demand.

Nvidia earned $58.32 billion, or $2.39 per share, in the February–April period, up from $18.78 billion, or 76 cents per share, in the same period a year earlier. Analysts had expected earnings of $1.75 per share.

For the current quarter, Nvidia forecast revenue of about $91 billion, compared with analyst forecasts of $87.29 billion. CEO Jensen Huang attributed the growth to 'the buildout of AI factories — the largest infrastructure expansion in human history — accelerating at extraordinary speed.'

Nvidia authorized an $80 billion stock buyback plan and increased its quarterly cash dividend to 25 cents per share from 1 cent. Despite the strong results, shares dipped slightly after-hours to $222.12 after closing at $223.47 in regular trading.