Nvidia bets beyond China
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 21 May 2026
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:07.6 | It's good to be with you on this Thursday, the 21st of May. I'm Julie Morgan. |
| 0:14.4 | Nvidia closed the day Wednesday, 1.3% higher ahead of its earnings release, and is up 0.2% in pre-market action. |
| 0:24.0 | Nvidia reported another blockbuster quarter beating estimates with revenue surging 85% year-over-year |
| 0:31.1 | to 81.62 billion. The company also unveiled an $80 billion share buyback program and raised its dividend by 2,400% from a penny to a quarter. |
| 0:42.9 | Looking ahead to the fiscal second quarter, NVIDIA expects revenue to be $91 billion plus or minus 2%. |
| 0:50.4 | The company also said it does not expect any revenue from China for the period. |
| 0:55.9 | Analysts had expected the company to generate $87.3 billion in revenue. |
| 1:01.3 | CEO Jensen Wong says the company has largely conceded China's artificial intelligence chip market to Huawei |
| 1:08.1 | as U.S. export restrictions continue to reshape the global AI semiconductor |
| 1:13.7 | landscape. He told CNBC that the demand in China is quite large. Huawei is very, very strong. They |
| 1:21.5 | had a record year. They'll likely, very likely, have an extraordinary year coming up. And their local ecosystem of chip companies are doing |
| 1:29.9 | quite well because we've evacuated that market. He added that we've largely conceded that market |
| 1:36.0 | to them. In the interview with CNBC, Wong struck a cautious tone on prospects for any near-term |
| 1:42.3 | reopening of the Chinese market, saying Nvidia told investors |
| 1:46.8 | to expect nothing regarding approvals to sell advanced chips into the country. |
| 1:52.9 | SpaceX's long-awaited S-1 filing is giving investors their clearest look yet at a company |
| 1:58.4 | that is no longer just a rocket launch provider. |
| 2:01.7 | The filing outlines a sprawling business tied to satellite internet, artificial intelligence |
| 2:07.4 | infrastructure, and Elon must broader ambition to build a multi-planetary economy. |
| 2:13.2 | The filing shows SpaceX's connectivity segment, driven primarily by Starlink, has become the company's |
| 2:19.4 | financial engine. The segment generated $11.4 billion in revenue during 2025, along with $4.4 billion |
... |
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