SANTA CLARA, Calif. — Nvidia, the chipmaker whose graphics processors have become the central commodity of the artificial-intelligence industry, reported record quarterly revenue of $81.6 billion on Wednesday, the company said in its first-quarter fiscal 2027 disclosure.
The headline figure was up 85% from the year-earlier period and 20% sequentially. Data-center segment revenue rose to a record $75.2 billion, up 92% year over year and 21% sequentially, driven, the company said, by the continued ramp of its Blackwell 300 product line and demand for its InfiniBand, Spectrum-X Ethernet and NVLink networking offerings.
Hyperscale customers — the four or five largest American and Chinese cloud providers — accounted for approximately half of data-center revenue in the quarter. The other half came from what Nvidia described as a broadening base of buyers, including AI-cloud providers, industrial customers, sovereign deployments and enterprise procurements. The diversification, Nvidia said in its commentary, reflects a market in which a wider range of buyers can now justify the capital expenditure to run frontier-scale workloads.
Adjusted earnings per share were $1.87, ahead of the consensus estimate of $1.76 and the 22nd earnings beat the company has posted in the past 24 quarters.
“The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed,” Jensen Huang, the chief executive of Nvidia, said in the earnings release. “Agentic AI has arrived, doing productive work, generating real value and scaling rapidly across companies and industries.”
The print arrived in a week dominated by capital-expenditure disclosures from Nvidia’s largest customers. Meta Platforms this month raised its 2026 capital-expenditure guidance to between $125 billion and $145 billion, much of it directed at Nvidia silicon. The Meta announcement was accompanied by a separate plan to cut roughly 8,000 jobs, a juxtaposition that has drawn extensive comment from analysts on both sides of the political and economic spectrum.
Nvidia shares slid in extended trading despite the beat. Several analysts attributed the move not to the print itself but to the size of the consensus number the print had to clear — a function of the share price, which has more than tripled in the past two years on continuous upward revisions.
The earnings come a year and a half into Nvidia’s Blackwell architecture cycle and at a moment when the broader question for the industry is not whether the buildout continues but for how long the second-derivative growth — the buildout-of-the-buildout — can sustain itself.