By John Power
Publication Date: 2026-05-21 03:08:00
Chip giant announces $80bn stock buyback scheme and dividend hike in boon to shareholders.
Published On 21 May 2026
Nvidia has announced record quarterly profit and revenue amid explosive demand for its advanced AI chips.
Th US tech behemoth said on Wednesday that profit soared to $58.3bn for the February-April period, up 37 percent from the previous quarter and more than 200 percent year-on-year.
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Revenue jumped to $81.6 bn, up 20 percent from the prior quarter and 85 percent compared to the same period in 2025.
Nvidia’s data-centre business was the main driver of growth, with quarterly revenue surging 92 percent year-on-year to $75.2bn.
The Santa Clara, California-based chip giant’s hardware unit racked up revenue of $6.4 bn, up 29 percent from the previous year.
In a sweetener for shareholders, the world’s most valuable company said it would buy back an additional $80bn in shares and raise its quarterly cash dividend from $0.01 a share to $0.25 per share.
Nvidia CEO Jensen Huang hailed the “extraordinary” results as proof of the growing utility of AI.
“Demand has gone parabolic,” Huang said in a conference call with investors and analysts.
“The reason is simple. Agentic AI has arrived,” Huang said, referring to the advent of semi-autonomous AI models.
“AI can now do productive and valuable work.”
Despite once again blasting past analysts’…
