NVIDIA reports Q1 adjusted EPS of $1.87 and revenue of $81.6B, both ahead of consensus; CEO acknowledges Huawei's strength in China as U.S. export restrictions reshape semiconductor market.

On May 20, 2026, NVIDIA CEO Jensen Huang said the company has 'largely conceded' China's AI chip market to Huawei, citing U.S. export restrictions. Huang described Huawei as 'very, very strong' and noted that local Chinese chip companies are performing well 'because we've evacuated that market.'

NVIDIA reported Q1 adjusted EPS of $1.87, ahead of the consensus estimate of $1.77, and revenue of $81.6B, above the consensus estimate of $79.12B. Raymond James raised its price target to $330 from $323 and maintained a Strong Buy rating.

NVIDIA announced a new $80B buyback authorization and increased its dividend from 1c to 25c per share. CEO Huang stated that the buildout of AI factories (large-scale computing centers for artificial intelligence) is 'accelerating at extraordinary speed.'