Nvidia guides roughly $91 billion for July quarter

Nvidia said on May 20 that it expects revenue of about $91 billion in its fiscal second quarter, covering the July quarter, as the chipmaker extended a run of record sales driven by demand for artificial-intelligence infrastructure. The company reported first-quarter revenue of $81.6 billion for the period ended April 26, up 20% from the prior quarter and 85% from a year earlier. Nvidia also announced an additional $80 billion share repurchase authorization and raised its quarterly cash dividend to $0.25 per share from $0.01. The forecast matters because it sets the next benchmark for a company that has become a central supplier of AI chips and systems to cloud providers and other large customers. CNBC reported that Nvidia’s stock slipped after the results even though the company beat Wall Street expectations on revenue and adjusted earnings. (investor.nvidia.com) ### How big is the July-quarter target compared with what Nvidia just reported? Nvidia’s guidance implies roughly $9.4 billion more revenue than the $81.6 billion it posted in the first quarter. The company said first-quarter data center revenue was $75.2 billion, up 92% from a year earlier, making that segment the main driver of overall growth. (investor.nvidia.com) The first-quarter figures also showed how concentrated Nvidia’s current business remains around AI computing. Nvidia said gaming revenue was $4.4 billion, professional visualization revenue was $509 million, automotive revenue was $567 million, and OEM and other revenue was $111 million. ### What exactly did Nvidia tell investors with this guidance? (investor.nvidia.com) Nvidia said second-quarter revenue is expected to be $91.0 billion, plus or minus 2%. The company gave that outlook in the same earnings release that reported adjusted diluted earnings per share of $1.87 for the first quarter, above the analyst estimate of $1.76 cited by CNBC. (investor.nvidia.com) Jensen Huang, Nvidia’s chief executive, said in the earnings release that “global demand for NVIDIA’s AI infrastructure is incredibly strong.” That comment accompanied the company’s description of demand across cloud, enterprise and sovereign AI customers. ### Why did the market reaction look restrained? (investor.nvidia.com) CNBC reported that Nvidia shares fell in extended trading after the earnings release despite the beat on revenue and earnings. The report said investors focused in part on details inside the results, including the pace of data center sales relative to expectations. The stock move does not change the numbers Nvidia put forward. (investor.nvidia.com) As of the May 20 release, the company had $38.5 billion remaining under its prior repurchase authorization before adding the new $80 billion program, according to the company’s earnings materials summarized on its investor relations site. (cnbc.com) ### What else came with the revenue outlook? Nvidia said the new $80 billion authorization has no expiration. The company also said the quarterly dividend would rise to $0.25 per share, payable on July 3, 2026, to shareholders of record on June 11, 2026. Those capital-return announcements arrived alongside record quarterly revenue and record data center revenue. (investor.nvidia.com) Nvidia’s earnings release said gross margin for the second quarter is expected to be 72.0% on a GAAP basis and 72.5% on a non-GAAP basis, plus or minus 50 basis points. ### When will investors get the next hard update on the $91 billion target? (investor.nvidia.com) Nvidia’s investor relations site lists quarterly results, webcasts and SEC filings as the company’s channels for material financial disclosures. The next direct test of the $91 billion forecast will come with Nvidia’s fiscal second-quarter results, which the company has historically posted in late August for the quarter ending in July. That timing is an inference based on Nvidia’s past reporting calendar and the company’s fiscal quarter structure. (investor.nvidia.com 1) (investor.nvidia.com 2)