For the first time since Nvidia started its AI super cycle two years ago, the chip maker may guide materially lower than the Wall Street consensus. The company reports results this afternoon. Any disappointing outlook is likely to be temporary.

While many analysts still count Nvidia as a top tech pick, they're also cautious on overhangs related to China restrictions and tariffs.

Nvidia Corporation's global growth, Saudi deal, and stable cloud capex drive an upgraded Buy rating ahead of Q1 earnings. Click here to read why NVDA is a Buy.

Nvidia’s shares surged during extended trading hours as its quarterly earnings surpassed analysts’ expectations. While the China-related impact weighed on results, the company anticipates steady growth in the current quarter due to continued robust global demand for AI.

It marked a break from the company’s recent string of post-earnings slumps, and it signals that Wall Street believes the AI trade can still outrun geopolitics, even if that hasn’t exactly happened to start 2025. Nvidia’s quarter by the numbers:

Nvidia's results were much better than they might seem at first glance. Both the top and bottom lines were hurt by new U.S. government export controls on the company's H20 chip, which it had specifically designed for the Chinese market to comply with the government's second round of advanced AI chip export controls.

Nvidia's outlook calls for $45 billion in July-quarter revenue at the midpoint. That would be below the $45.9 billion that analysts were modeling. But Mizuho analyst Vijay Rakesh offered another way to look at it.

Stacy Rasgon, Bernstein, and Bryn Talkington, Requisite Capital, join 'Closing Bell' to discuss Nvidia's quarterly earnings results.

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