India, May 29 -- Shares of Nvidia Corp. gained around 5 percent in the extended trading on Wednesday and is currently up around 6 percent in the pre-market activity on the Nasdaq, after the artificial intelligence chipmaker reported significantly higher earnings in its first quarter, despite an expected $4.5 billion charge associated with H20 AI chip export barring to China. Revenues were 69 percent higher, as Blackwell ramp, the fastest in the company's history, drove strong growth in Data Center revenue.
The company also issued second-quarter outlook, which reflects around $8 billion loss in H20 revenue, due to the recent export control limitations to China. However, the anticipated decline in China revenue would be partially offset by t...