NVIDIA reports huge Q1 earnings due to AI boom despite struggles in China

NVIDIA reported Q1 revenue of $81.6 billion, driven by surging demand for AI chips.

The company announced an $80 billion share buyback and a higher dividend.

Despite the strong results, NVIDIA said it has lost most of its China business.

U.S. export controls and Chinese government pushback have sharply reduced sales of H20 and H200 chips.

The results highlight how AI growth is offsetting a major hit in a key overseas market.