# Nvidia Q1 FY2026 Revenue Hits $44.1 Billion as Data Center Sales Jump 73% Despite $4.5 Billion H20 China Charge

*2026-05-20 22:01 UTC · Business · 1 min read*

> Nvidia posted $44.1B in Q1 FY2026 revenue (+69% YoY) with data center up 73%, but absorbed a $4.5B H20 inventory charge after U.S. China export curbs.

Nvidia reported first-quarter fiscal 2026 revenue of $44.1 billion on May 20, up 12% sequentially and 69% year over year. Data center revenue reached $39.1 billion, climbing 73% from a year earlier as hyperscalers continued ramping AI training and inference clusters built on Blackwell.

The quarter included a $4.5 billion charge tied to excess H20 inventory and purchase obligations after the U.S. government's April 9 export licensing rule cut off China shipments. Nvidia booked $4.6 billion in H20 sales before the restriction and said it was unable to ship a further $2.5 billion. Excluding the charge, non-GAAP gross margin would have been 71.3% instead of the reported 61.0%. GAAP net income still landed at $18.8 billion ($0.76 diluted EPS).

CEO Jensen Huang said "AI inference token generation has surged tenfold in just one year" and forecast Q2 revenue of $45.0 billion plus or minus 2%, with roughly $8 billion in additional H20 revenue assumed lost.

## Sources

- [nvidianews.nvidia.com](https://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-first-quarter-fiscal-2026)
- [bloomberg.com](https://www.bloomberg.com/news/live-blog/2026-05-20/nvidia-first-quarter-earnings)

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TechTools News · https://techtools.cz/tools/news/article/1683-nvidia-q1-fy2026-revenue-hits-44-1-billion-as-data-center-sales-jump-73-despite
Česká verze: https://techtools.cz/tools/news/clanek/1756-trzby-nvidie-v-1-ctvrtleti-fiskalniho-roku-2026-dosahly-44-1-miliardy-dolaru