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Nvidia Surges on AI Boom but Faces U.S.–China Tensions. Chip giant Nvidia has reported $46.7 billion in revenue for the last quarter — a 56% jump from a year earlier — driven by soaring demand for its AI processors from big tech firms like Meta and OpenAI. CEO Jensen Huang said the "AI race is now on," noting that tech spending has doubled to $600 billion a year as companies rush to expand AI infrastructure. Nvidia's data center revenue alone climbed to $41.1 billion. But despite the boom, shares dipped in after-hours trading as the company warned of ongoing geopolitical challenges. Nvidia has been caught between the U.S. and China over export restrictions. After lobbying the Trump administration, Nvidia regained approval to sell its China-specific H20 chips, though none have shipped yet. The U.S. is also reviewing licenses for future sales, while China accelerates its own domestic chipmaking push. Nvidia, the world's first $4 trillion company, projects next-quarter revenue of $54 billion — still outpacing Wall Street expectations, even as trade tensions threaten its dominance.
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