Nvidia’s stronger-than-expected earnings and upbeat AI outlook boosted Bitcoin mining stocks tied to data center and high-performance computing demand, even as the chipmaker’s own shares dipped on concerns over longer-term growth.
Nvidia (NVDA) posted another record-setting quarter on Wednesday, powered by surging demand for artificial intelligence infrastructure that drove revenue, earnings, and cash flow to new highs.
The company reported first-quarter revenue of $81.62 billion, up 85% from $44.06 billion a year earlier and ahead of Wall Street estimates of $78.9 billion, according to FactSet data. Adjusted earnings came in at $1.87 per share, beating expectations of $1.76. Nvidia also issued stronger-than-expected guidance, forecasting roughly $91 billion in revenue for the current quarter.
Nvidia’s board also approved an additional $80 billion in share repurchases and increased its quarterly dividend to 25 cents per share from 1 cent, underscoring confidence in continued cash generation.
Despite the strong results and shareholder returns, Nvidia shares fell about 1.5% in after-hours trading as investors looked past the current quarter and focused on potential growth normalization and rising competition in AI chips.
Bitcoin miners with exposure to AI and high-performance computing infrastructure responded positively. Core Scientific (CORZ) and Cipher Mining (CIFR) each posted modest gains in after-hours trading, as investors continued to view select miners as potential beneficiaries of rising demand for data center capacity, power infrastructure, and AI computing workloads. IREN (IREN) initially advanced before turning slightly lower.
CEO Jensen Huang described the current phase as a historic infrastructure buildout, saying the rise of “AI factories” represents one of the largest expansions in industrial history. He added that “agentic AI” is already creating real economic value and scaling rapidly across sectors.
For Bitcoin miners shifting toward AI and data center services, Nvidia’s results reinforced the strategic pivot. The company’s Data Center division remains its core growth driver, fueled by heavy investment from cloud providers, enterprises, and governments.
Hyperscalers accounted for more than half of Nvidia’s $75 billion Data Center revenue during the quarter, contributing about $38 billion, up 12% sequentially, according to CFO Colette Kress. The remaining $37 billion came from Nvidia’s ACIE segment, covering AI cloud providers, enterprise customers, and industrial demand.
Kress added that AI cloud revenue has more than tripled year-over-year, supported by rapid expansion across more than 80 high-capacity data centers. She also noted continued strong demand for Nvidia systems, with about $20 billion in expected CPU revenue this year.
The company reiterated that its outlook excludes any Data Center revenue from China due to ongoing U.S. export restrictions on advanced AI chips.
Investors continue to view Nvidia’s results as a key indicator of global AI infrastructure spending. The latest earnings suggest demand remains strong and still outpaces expectations, reinforcing optimism for data center operators and Bitcoin miners positioned around AI-linked compute growth
