Nvidia shares rise on strong Q1 earnings, despite export control headwinds
1. Nvidia beats Q1 expectations but projects lower Q2 sales due to export controls. 2. Q1 net income rose 26% to nearly $19 billion; revenue increased by 69%. 3. CEO cites strong global demand for AI infrastructure and supercomputers. 4. Export licensing requirements lead to $4.5 billion charge and $8 billion projected loss. 5. Nvidia is investing in U.S.-based AI production amid geopolitical tensions with China.