Another Strong Print from Godfather of AI; NVDA Remains King of the AI Castle

研报英文原文证据摘录

Another Strong Print from Godfather of AI; NVDA Remains King of the AI Castle

Industry Note

May 20, 2026 Disruptive Technology

Another Strong Print from Godfather of AI; NVDA RemainsAnalysts

Dan Ives King of the AI Castle

(212) 344-2073

Dan.Ives@wedbush.com

Steven Wahrhaftig With all eyes on the Street laser focused on the AI Revolution, Nvidia delivered(212) 931-7059

steven.wahrhaftig@wedbush.com another quarter of robust earnings beating Street expectations across the board

Sam Brandeis while providing robust guidance across the board as the NVDA remains well-

(212) 222-3005 positioned on top of the AI mountain as the infrastructure buildout accelerates.

sam.brandeis@wedbush.com Total revenue came in at $81.6 billion (up 85% y/y) well above the Street’s $78.9

Anish Jog billion estimate and buyside whisper numbers of $81.0 billion with data center

(917) 747-3095 revenue of $75.2 billion (up 92% y/y) well above the Street’s $73.1 billion estimateanish.jog@wedbush.com

due to the continued ramp of its Blackwell 300 products and other solutions while

hyperscale revenue represented ~50% of data center revenue despite seeing no

China revenue from Hopper shipments. The company announced a new revenue

line named Edge Computing, which highlights agentic and physical AI, which came

in at $6.4 billion (up 29% y/y and 10% q/q) due to strong Blackwell workstation

demand that allow developers to develop their own models towards internal

systems offset by slower PC demand due to higher memory and systems prices.

Turning to profitability, the company reported gross margins of 75.0% in line

with the Street’s 75.0% and whisper numbers of ~75.0% due to lower inventory

provisions y/y following the $4.5 billion H200 inventory charge in the year-ago