Jensen Huang is the epitome of the American Dream.

Although he is now the most influential voice in artificial intelligence and leads the most valuable company in the world, he was not born with a silver spoon in his mouth.

Instead, Huang came from very humble beginnings…

Born in Thailand, Huang immigrated to the U.S. at nine years old to live with his uncle in Washington. Then, his family mistakenly enrolled him in a reform school in Kentucky, where he cleaned toilets and shared a dorm room with his brother.

As a teen, Huang worked at Denny’s as a dishwasher, busboy and waiter – roles he still proudly lists on his LinkedIn profile today.

Fast-forward to his college years, Huang earned his engineering degree from Oregon State University. From there, Huang took a job at Advanced Micro Devices, Inc. (AMD), specializing in chip and memory design.

Then, in 1993, in a full-circle moment, Huang found himself sitting in a Denny’s booth with two fellow engineers, Chris Malachowsky and Curtis Priem. Together, the three of them sketched out a plan for the company that would eventually become NVIDIA Corporation (NVDA).

What started as a vision to improve PC gaming by designing better graphic processing units (GPUs) has grown into a $3 trillion tech juggernaut – and the leader of the AI Revolution.

That’s the kind of tenacity that built NVIDIA from the ground up – and it’s the same spirit that helped the company defy earnings expectations this week, even with a $5.5 billion China export ban looming.

While Wall Street was panicked over what NVIDIA couldn’t ship, I focused on what it could deliver… the Blackwell GPU, one of the most profitable chips ever created. Because of this, I never doubted that NVIDIA would surprise Wall Street with its earnings results on Wednesday.

So, in today’s Market360, let’s unpack NVIDIA’s latest earnings. We’ll consider the growth in its AI chips, and the moves it’s making to stay ahead of its competitors. Then, I’ll show you how this ties directly into President Trump’s tech policies and what I call Liberation Day 2.0… and what it means for tech stocks and investors.

The Numbers Are In…

Now, there was some initial confusion surrounding NVIDIA’s earnings, as several headlines claimed that it missed analysts’ earnings estimates. However, this couldn’t be further from the truth. The company topped earnings estimates and achieved record revenue in the latest quarter.

Digging into the numbers…

During the first quarter of fiscal 2026, NVIDIA’s revenue jumped 69% year-over-year to $44.06 billion – up from $26.04 billion in the same quarter last year. Analysts expected total revenue of $43.25 billion.

The company’s data center business was the star again. Revenue from that segment soared 73% to $39.1 billion.

Earnings also came in strong, rising 31% year-over-year to $19.89 billion, or $0.81 per share, compared to $15.24 billion, or $0.61 per share, in the same quarter a year ago. That was an 8% surprise over the $0.75 analysts had forecast.

NVIDIA noted that the Trump administration’s ban on its H20 products to China cost the company $4.5 billion in the quarter. Before the ban, NVIDIA sold $4.6 billion worth of H20 chips to China, but couldn’t fulfill an additional $2.5 billion in shipments when the ban took effect. Without the $4.5 billion charge related to H20 shipments, NVIDIA said it would have earned $0.96 per share.

Still, NVIDIA remained optimistic. CEO Jensen Huang stated in the earnings press release, “Global demand for NVIDIA’s AI infrastructure is incredibly strong … Countries around the world are recognizing AI as essential infrastructure – just like electricity and the internet – and NVIDIA stands at the center of this profound transformation.”

Looking ahead to the second quarter, NVIDIA expects total revenue of about $45 billion, which represents about 50% year-over-year growth. The company noted that the outlook takes the H20 ban into consideration, as it anticipates an $8 billion loss in H20 revenue.

NVIDIA’s Next Focus: Quantum Computing, Robotaxi Wars and Robotics

Now, by the end of the decade, NVIDIA will be unable to put more transistors on a chip. The fact is NVIDIA’s 208 billion transistors on its Blackwell GPU are already approaching the “atomic” level and are very tiny. So, after this decade, it will be all about quantum computing.

NVIDIA is already preparing itself for this change. During its earnings call on Wednesday, the company announced it is opening in research center in Japan that hosts the world’s largest quantum research supercomputer. 

In addition, on May 18 it was reported that the company was is in advanced talks to invest in a quantum computing startup, called PsiQuantum.

Also, NVIDIA already has its own quantum cloud simulator – a tool that helps researchers test and run quantum programs. What’s more, the company recently sponsored a contest to find the best way to design quantum computing software.

The winner, for the record, was D-Wave Quantum Inc. (QBTS) – a company that builds quantum computers and provides the software and services to go with them.

 Now, I’ve profiled D-Wave Quantum before to my premium readers. And while it does have strong sales, it still has operating losses, so I wouldn’t buy it just yet. I only like to buy companies that make money.

Given this, NVIDIA remains a safer play for both regenerative AI and quantum computing.

So, I believe that NVIDIA will make an orderly transition to quantum computing, and that should allow the company to continue to reign supreme as the AI king.

Now, NVIDIA isn’t just focusing on quantum computing, it’s also making a name for itself in the self-driving industry and robotics.

NVIDIA is helping innovate self-driving technology with a suite of powerful tools – including NVIDIA DGX, NVIDIA Omniverse, Cosmos, NVIDIA DRIVE AGX, and NVIDIA Halos. Together, these platforms make self-driving vehicles smarter and safer.

That’s important now more than ever, with the robotaxi race heating up. Alphabet Inc. (GOOG) has Waymo, which is already operating in Phoenix, Austin, San Francisco, and Los Angeles. Tesla Inc. (TSLA) is getting ready to launch its own robotaxi service in Austin using the Model Y. And Uber Technologies Inc. (UBER) plans to roll out robotaxis next year using ID.Buzz vans made by Volkswagen AG (VWAGY) next year.

Regarding robotics, NVIDIA offers the Jetson, Xavier and Orin AI chips, its Isaac Platform software and deep learning. It also has its own AI-driven robotic system – Isaac GROOT N1.5 – which can help robots “talk” to each other and share information faster and more smoothly.

Bottom line: NVIDIA is a stock to hold to the end of the decade, because its monopoly on regenerative AI chips is going to continue.

No one competes with their Blackwell chip. And the company has two new improvements coming. One is called the Rubin GPU – coming in the second half of 2026. And then in 2028, NVIDIA will have the Feynman GPU – and then they’re probably done. They can’t make their chips faster. That’s where quantum computing will come in, so it’s very smart of NVIDIA to jump into the quantum computing space now.

And soon enough, robotics are going to leave the factory floor and enter our daily lives. That’s when we’ll enter the era of so-called “physical AI.”

And that means these robots are going to be moving around and learning. We’ll either train them, or they’ll train us. Either way, it’s going to be a brave new world of machines. It’s coming and we can’t stop it. But again, since NVIDIA can provide the software and AI chips to power the robots, it’s sure to be a winner in this space, too.

What NVIDIA’s Blowout Earnings Confirm

NVIDIA’s blowout earnings confirm two things: First, the AI Revolution is still alive and well. And second, President Trump’s Liberation Day 2.0 is supporting its stunning growth.

Liberation Day 2.0 is President Trump’s three-pronged plan to revive the American economy. And it starts with Tech Liberation.

We’re already seeing it play out…

• A softening of regulations around AI, crypto and cloud infrastructure
• A renewed focus on onshoring and reshoring chip production
• A surge in global dealmaking – including NVIDIA’s Middle East expansion (which I covered in last Friday’s Market 360)
• And more than $2 trillion in private capital already committed to U.S.-based tech projects

In fact, Jensen Huang commented in NVIDIA’s earnings call that, “President Trump wants U.S. tech to lead.”

He also expressed confidence in NVIDIA’s strategic alignment with the Trump administration’s initiatives, saying “President Trump has outlined a bold vision to reshore advanced manufacturing, create jobs, and strengthen national security,” and affirmed that “we share this vision.”

Simply put, innovation-first policy is back on the table. And that could create a massive tailwind for not only NVIDIA – but a handful of well-positioned tech stocks.

To fully explain this economic shift, I hosted a special Liberation Day 2.0 Summit. During this event, I also revealed the name and ticker symbol of one company for free.

I believe could be among the biggest winners from these Liberation Day-driven economic changes.

So, if you missed the event, I strongly encourage you to catch the full replay while it’s still online.

Click here to watch the Liberation Day 2.0 replay now.

Because in the markets, there are no rewinds. Only those who act early, and act smart, reap the full rewards.

Sincerely,

Louis Navellier

Editor, Market 360

The Editor hereby discloses that as of the date of this email, the Editor, directly or indirectly, owns the following securities that are the subject of the commentary, analysis, opinions, advice, or recommendations in, or which are otherwise mentioned in, the essay set forth below:

NVIDIA Corporation (NVDA)