Nvidia’s first-quarter earnings report shattered expectations, delivering $44.06 billion in revenue, a staggering 72% increase year-on-year, according to LSEG data. This impressive performance fueled an immediate surge of over 6% in Nvidia stock prices during after-hours trading. The company also exceeded analysts’ forecasts for earnings per share, posting 96 cents adjusted, compared to the expected 93 cents. This strong showing, despite new export restrictions from Washington on its H20 AI chips, marks one of the company’s best quarters ever. Despite the impact of China’s export ban**, Nvidia maintained significant financial success. The company attributed their record revenue to a booming data center sector, fueled by applications such as ChatGPT, and strong demand for networking products, key components in AI training systems. Notably, Nvidia’s gross margin was robust at 61%, but would have been even higher if not for China-related losses. The company’s net income soared 26% to $18.8 billion, reflecting the significant growth. Gaming continues to be a key driver for Nvidia, contributing $3.8 billion in revenue with strong demand for chips used in AI applications. Meanwhile, the automotive and robotics unit witnessed a remarkable surge in revenue, expanding 72% year-on-year, driven by increased demand for self-driving technology. Nvidia’s aggressive share repurchase program and dividend payouts reflect the company’s confidence in its future prospects. Despite regulatory hurdles and challenges in China, Nvidia has experienced substantial gains this month. The company is now at its highest point in four months.