Shares of Nvidia (NVDA) rose roughly 4% in post-trading hours after reporting better-than-expected earnings and revenue on Wednesday.
The AI powerhouse posted a 69% increase in revenue in the first quarter, compared to a year ago, with its data center business growing 73% year-over-year. Net income came in at $18.8 billion, up 26% from a year earlier.
The after-hours move pushed NVDA shares to a modest year-to-date gain and about a 20% year-over-year advance.
AI crypto tokens, including Bittensor TAO, NEAR Protocol NEAR and Internet Computer (CIP), moved slightly higher after Nvidia’s earnings beat, although remained sizably lower for the day. Nevertheless, it was ongoing AI demand which was a key driver in the 73% growth in the company data center business.
Turning to the outlook amid recent global trade uncertainties, Nvidia said it expects second-quarter revenue to come in below market estimates as a result of tariff-related restrictions between the U.S. and China.