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Yahoo
23 minutes ago
- Business
- Yahoo
Trump tariffs live updates: Court of International Trade deems majority of tariffs 'unlawful'
The US Court of International Trade has voted to block the vast majority of President Trump's global tariffs after deeming the method used to enact them 'unlawful'. This places most of the tariffs on an indefinite hold while the administration appeals the decision through the Supreme Court. Tariffs impacted include the flat-rate 'reciprocal' tariffs aimed at US trade partners as well as and key China-focused duties, while leaving some duties, specifically those covering steel, aluminum, and certain Chinese goods, intact. Prior to the court's decision, President Trump on Wednesday criticized an emerging Wall Street trading philosophy in response to his ever-shifting tariff policies. The term "TACO" trade — short for "Trump Always Chickens Out" — has come in response to Trump's frequent pattern with tariffs: High tariffs send markets reeling until Trump backs off. Trump called a reporter who asked him about the term "nasty" before defending his strategy as one that has helped the US gain leverage in trade negotiations. "It's called negotiation," he said. Negotiations have continued in earnest this week, with an FT report on Wednesday saying India has offered the US steep tariff cuts but is seeking to retain high duties on some agricultural commodities. India is not the only trading partner seeking a tariff reprieve. On Wednesday, the EU trade chief Maroš Šefčovič said the European Commission is discussing with the US possible cooperation in sectors such as semiconductors, steel, and aerospace, and is in search of a deal to limit tariffs. The European Union has agreed to fast-track trade talks with the US in a bid to avoid Trump's 50% tariffs — which, in an about-face, he announced would be delayed until July 9. Šefčovič said the EU held "good calls" with Trump administration officials on Monday after the close trading partners moved forward with negotiations amid Trump's tariff-fueled push to rework global trade relationships. Trump had been frustrated with the pace of negotiations, saying last week that the bloc has been "very difficult to deal with." Meanwhile, Apple (AAPL) remains in high focus after Trump said the company would face 25% tariffs if it didn't move iPhone production to the US. He later said that would apply to other phone makers, including Samsung ( Nvidia (NVDA) is also set for a high-stakes earnings report Wednesday, its first since many of the tariffs went into effect. Its stock has swung wildly this year amid Trump's tariffs and other moves. Live updates: Nvidia's earnings report Here are the latest updates as the policy reverberates around the world. The decision's focus on IEEPA immediately throws into doubt some of the most far-reaching of Trump's tariff actions since taking office. Most notably, those include his "Liberation Day" tariffs of 10% on nearly the entire world, as well as the current threat of higher tariffs on countries that fail to reach a deal during his 90-day pause. The president has also relied on IEEPA to impose duties on nations such as Mexico, Canada, and China, claiming that the nations' failure to curb the flow of illegal drugs and migration into the US threatened US national security. [...] Duties based on other laws like those Trump has imposed on certain aluminum and steel products are not included in the court's decision. Recent duties on automobiles imposed by the president use so-called Section 232 tariff authority derived from a separate law called the Trade Expansion Act of 1962. The tariffs on steel and aluminum also rely on Section 232. Read more here. President Donald Trump's tariffs have been deemed illegal and blocked in a landmark trade court ruling that ruled the president used unlawful emergency powers by imposing broad levies on imports. The decision suspends Trump's flat-rate tariffs and key China-focused duties, while leaving some tariffs, specifically those covering steel, aluminum, and some Chinese goods, intact. The ruling, issued by the Court of International Trade, is set to be appealed and could reach the Supreme Court. Investors are watching closely, as the outcome will reshape the global trade landscape and has huge ramifications on trust in Trump as a market manager. Markets, already volatile amid ongoing tariff uncertainty since the April 2 executive order, reacted swiftly to the news with major gauge futures making leaps of up to 2%. Bloomberg reports: Read more here. President Trump on Wednesday criticized an emerging Wall Street trading philosophy in response to his ever-shifting tariff policies. The term "TACO trade" — apparently first coined by the Financial Times early this month — has been flying around Wall Street in recent weeks and entered even more into the public consciousness over the past few days. The acronym stands for "Trump Always Chickens Out." The pattern is clear: Trump announces heavy tariffs, sending markets reeling until he backs off, sending markets flying. A reporter asked Trump at the White House on Wednesday for his response to the school of thought. He did not appear to be aware of the acronym, but was also not pleased to learn its meaning. "Isn't that nice ... I've never heard that," he said, before launching into a defense of recent moves. Earlier in May, the US reached a detente with China after the countries imposed massive tariffs on each other. Then last week, Trump announced massive 50% tariffs on EU imports, only to backtrack a couple days later and push back his deadline for more negotiating time. "After I did what I did, they said, 'We'll meet anytime you want,'" Trump said of the EU. He said of China, "In many ways, I think we really helped China tremendously." "Don't ever say what you said," Trump then told the reporter. "That's a nasty question." AutoZone's (AZO) management said on Tuesday that inflation from tariffs hasn't had a major impact on costs yet because it takes a while for its products to ship to the US. However, executives at the auto parts retailer said they expect inflation to accelerate if substantial tariffs remain in place. "I think one of the reasons that you haven't seen a lot of the tariff cost in our side of the business is ... most of our inventory turns relatively slow compared to many other industries, hard parts in particular," AutoZone CEO Philip Daniele said on the company's fiscal third quarter earnings call. "And that product just hasn't shown up here in the country. And as you know, this stuff has changed pretty significantly over the last 90 days or 120 days. I mean there will be an impact to tariffs on the cost of goods." AutoZone reported SKU inflation of 1% for the quarter and said it expects to see inflation of 3% over time. The company sources many of its products from China and other East Asian countries, Eastern Europe, and Mexico. AutoZone CFO Jamere Jackson noted that, other than tariffs, a lot of the drivers of cost increases have come down, particularly freight prices. "However, if we do see significant tariffs, that will indeed have an inflationary impact," Jackson stated. Reuters reports: German carmakers BMW, Mercedes-Benz and Volkswagen are in talks with the U.S. Department of Commerce on a tariff deal that would involve a mechanism to offset imports and exports, the Handelsblatt business daily reported on Wednesday. In return for tariff relief, the companies could invest billions in the United States, the report said citing company sources. It did not give a more exact sum. Reuters reports: Read more here. Yahoo Finance's senior reporter Hamza Shaban reports on Wall Street's dilemma with Trump's tariffs: Read more here. More retailers are feeling the impact of Trump's tariffs as both Macy's (M) and Michael Kors parent company Capri (CAPR) lowered their annual profit and revenue forecasts on Wednesday, citing tariffs as the cause. Capri cut its revenue forecast for 2026, signaling that tariff-related uncertainty was weighing on demand for its handbags and accessories in North America and Asia. Macy's followed in a similar fashion: Yahoo Finance senior reporter Brooke DiPalma said the company reaffirmed its sales guidance, but revised its earnings outlook due to uncertainty surrounding tariffs, consumer sentiments, and the competitive landscape. Macy's is facing multiple macro headwinds as consumer sentiment sags, costs rise with Trump's tariffs, and trends grow toward e-commerce and direct-to-consumer. Read more here. Reuters reports: Read more here. India has offered steep cuts to its import tariffs on a range of goods in talks with the US, but is said to be retaining high duties on certain agricultural commodities, according to people familiar with the negotiations. The FT reports: Read more here. Reuters reports: Read more here. As the US and European Union negotiate a new trade deal to avoid President Trump-imposed tariffs, it's worth taking a moment to note that the US and the EU have the largest bilateral trade relationship in the world. According to the Council of the European Union (and converted to USD), the transatlantic trade in goods and services topped 1.8 trillion in 2023 after a post-pandemic surge: A measure of tariff revenue has spiked this month as importers paid the baseline "Liberation Day" tariffs that went into effect on April 5, along with other duties set by President Trump. Government receipts for "Customs and Certain Excise Taxes" have already topped $22.3 billion this month, according to Treasury Department data. Yahoo Finance's Ben Werschkul reports: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. The Chinese Premier Li Qiang has urged Southeast Asian and Gulf states to help create a 'big market', in a bid to counter US efforts to isolate China's economy. Bloomberg News reports: Read more here. Reuters reports: Read more here. Retailers, who have suffered under Trump's tariffs, are increasingly warming to offers to sell in order to escape market volatility that has caused company valuations to seesaw in recent months, according to a report in Reuters. Reuters reports: Read more here. Bloomberg News reports: Read more here. Malaysia's Trade and Industry minister Zafrul Aziz said that the US reducing its proposed tariffs on Malaysia to 10% is a positive move, conceding that a previously hoped for levy of zero may not be possible. Bloomberg News reports: Read more here. The decision's focus on IEEPA immediately throws into doubt some of the most far-reaching of Trump's tariff actions since taking office. Most notably, those include his "Liberation Day" tariffs of 10% on nearly the entire world, as well as the current threat of higher tariffs on countries that fail to reach a deal during his 90-day pause. The president has also relied on IEEPA to impose duties on nations such as Mexico, Canada, and China, claiming that the nations' failure to curb the flow of illegal drugs and migration into the US threatened US national security. [...] Duties based on other laws like those Trump has imposed on certain aluminum and steel products are not included in the court's decision. Recent duties on automobiles imposed by the president use so-called Section 232 tariff authority derived from a separate law called the Trade Expansion Act of 1962. The tariffs on steel and aluminum also rely on Section 232. Read more here. President Donald Trump's tariffs have been deemed illegal and blocked in a landmark trade court ruling that ruled the president used unlawful emergency powers by imposing broad levies on imports. The decision suspends Trump's flat-rate tariffs and key China-focused duties, while leaving some tariffs, specifically those covering steel, aluminum, and some Chinese goods, intact. The ruling, issued by the Court of International Trade, is set to be appealed and could reach the Supreme Court. Investors are watching closely, as the outcome will reshape the global trade landscape and has huge ramifications on trust in Trump as a market manager. Markets, already volatile amid ongoing tariff uncertainty since the April 2 executive order, reacted swiftly to the news with major gauge futures making leaps of up to 2%. Bloomberg reports: Read more here. President Trump on Wednesday criticized an emerging Wall Street trading philosophy in response to his ever-shifting tariff policies. The term "TACO trade" — apparently first coined by the Financial Times early this month — has been flying around Wall Street in recent weeks and entered even more into the public consciousness over the past few days. The acronym stands for "Trump Always Chickens Out." The pattern is clear: Trump announces heavy tariffs, sending markets reeling until he backs off, sending markets flying. A reporter asked Trump at the White House on Wednesday for his response to the school of thought. He did not appear to be aware of the acronym, but was also not pleased to learn its meaning. "Isn't that nice ... I've never heard that," he said, before launching into a defense of recent moves. Earlier in May, the US reached a detente with China after the countries imposed massive tariffs on each other. Then last week, Trump announced massive 50% tariffs on EU imports, only to backtrack a couple days later and push back his deadline for more negotiating time. "After I did what I did, they said, 'We'll meet anytime you want,'" Trump said of the EU. He said of China, "In many ways, I think we really helped China tremendously." "Don't ever say what you said," Trump then told the reporter. "That's a nasty question." AutoZone's (AZO) management said on Tuesday that inflation from tariffs hasn't had a major impact on costs yet because it takes a while for its products to ship to the US. However, executives at the auto parts retailer said they expect inflation to accelerate if substantial tariffs remain in place. "I think one of the reasons that you haven't seen a lot of the tariff cost in our side of the business is ... most of our inventory turns relatively slow compared to many other industries, hard parts in particular," AutoZone CEO Philip Daniele said on the company's fiscal third quarter earnings call. "And that product just hasn't shown up here in the country. And as you know, this stuff has changed pretty significantly over the last 90 days or 120 days. I mean there will be an impact to tariffs on the cost of goods." AutoZone reported SKU inflation of 1% for the quarter and said it expects to see inflation of 3% over time. The company sources many of its products from China and other East Asian countries, Eastern Europe, and Mexico. AutoZone CFO Jamere Jackson noted that, other than tariffs, a lot of the drivers of cost increases have come down, particularly freight prices. "However, if we do see significant tariffs, that will indeed have an inflationary impact," Jackson stated. Reuters reports: German carmakers BMW, Mercedes-Benz and Volkswagen are in talks with the U.S. Department of Commerce on a tariff deal that would involve a mechanism to offset imports and exports, the Handelsblatt business daily reported on Wednesday. In return for tariff relief, the companies could invest billions in the United States, the report said citing company sources. It did not give a more exact sum. Reuters reports: Read more here. Yahoo Finance's senior reporter Hamza Shaban reports on Wall Street's dilemma with Trump's tariffs: Read more here. More retailers are feeling the impact of Trump's tariffs as both Macy's (M) and Michael Kors parent company Capri (CAPR) lowered their annual profit and revenue forecasts on Wednesday, citing tariffs as the cause. Capri cut its revenue forecast for 2026, signaling that tariff-related uncertainty was weighing on demand for its handbags and accessories in North America and Asia. Macy's followed in a similar fashion: Yahoo Finance senior reporter Brooke DiPalma said the company reaffirmed its sales guidance, but revised its earnings outlook due to uncertainty surrounding tariffs, consumer sentiments, and the competitive landscape. Macy's is facing multiple macro headwinds as consumer sentiment sags, costs rise with Trump's tariffs, and trends grow toward e-commerce and direct-to-consumer. Read more here. Reuters reports: Read more here. India has offered steep cuts to its import tariffs on a range of goods in talks with the US, but is said to be retaining high duties on certain agricultural commodities, according to people familiar with the negotiations. The FT reports: Read more here. Reuters reports: Read more here. As the US and European Union negotiate a new trade deal to avoid President Trump-imposed tariffs, it's worth taking a moment to note that the US and the EU have the largest bilateral trade relationship in the world. According to the Council of the European Union (and converted to USD), the transatlantic trade in goods and services topped 1.8 trillion in 2023 after a post-pandemic surge: A measure of tariff revenue has spiked this month as importers paid the baseline "Liberation Day" tariffs that went into effect on April 5, along with other duties set by President Trump. Government receipts for "Customs and Certain Excise Taxes" have already topped $22.3 billion this month, according to Treasury Department data. Yahoo Finance's Ben Werschkul reports: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. The Chinese Premier Li Qiang has urged Southeast Asian and Gulf states to help create a 'big market', in a bid to counter US efforts to isolate China's economy. Bloomberg News reports: Read more here. Reuters reports: Read more here. Retailers, who have suffered under Trump's tariffs, are increasingly warming to offers to sell in order to escape market volatility that has caused company valuations to seesaw in recent months, according to a report in Reuters. Reuters reports: Read more here. Bloomberg News reports: Read more here. Malaysia's Trade and Industry minister Zafrul Aziz said that the US reducing its proposed tariffs on Malaysia to 10% is a positive move, conceding that a previously hoped for levy of zero may not be possible. Bloomberg News reports: Read more here.
Business Recorder
23 minutes ago
- Business
- Business Recorder
India's equity benchmarks eye positive open after US court blocks Trump tariffs
India's benchmark indexes are poised for a positive open on Thursday, tracking gains in broader Asian peers and Wall Street futures, as investors cheered a U.S. federal court's decision to block President Trump's proposed 'Liberation Day' tariffs. Gift Nifty futures were trading at 24,837.5, as of 8:09 a.m. IST, indicating a firm start above the Nifty 50's close of 24,752.45 on Wednesday. The Court of International Trade ruled that President Trump exceeded his authority with the proposed tariff plan. Although the White House has appealed the decision, the ruling raised hopes that Trump may scale back from imposing the highest tariff levels he had threatened, lifting global risk sentiment. The U.S. court decision also boosted the U.S. dollar, while safe-haven gold edged lower as investor risk appetite improved. Asian shares and Wall Street futures advanced, supported by chipmaker Nvidia's quarterly sales beat and positive revenue outlook released after U.S. market hours. Financials, IT stocks weigh on Indian equity benchmarks Meanwhile, minutes from the latest Federal Reserve meeting revealed concerns about inflation risks tied to Trump's trade policy. Market pricing now sees only a 22% chance of a July rate cut, while the probability for a September cut stood at 60%, having been fully priced a month ago. Back home, the Nifty 50 has shed 0.4% over the past three sessions, consolidating near the 25,000 mark. The index has gained 1.7% in May, on track for its third consecutive monthly gain, supported by robust foreign portfolio investor (FPI) inflows and sequential earnings growth in the March quarter. FPIs net bought 46.63 billion rupees ($546 million) in equities on Wednesday, pushing total May inflows near $2 billion. While the market construct remains positive, volatility is expected to remain elevated through the day amid the monthly derivatives expiry, as traders roll over or square off their positions, two analysts said.
Reuters
29 minutes ago
- Business
- Reuters
India's equity benchmarks eye positive open after US court blocks Trump tariffs
May 29 (Reuters) - India's benchmark indexes are poised for a positive open on Thursday, tracking gains in broader Asian peers and Wall Street futures, as investors cheered a U.S. federal court's decision to block President Trump's proposed "Liberation Day" tariffs. Gift Nifty futures were trading at 24,837.5, as of 8:09 a.m. IST, indicating a firm start above the Nifty 50's close of 24,752.45 on Wednesday. The Court of International Trade ruled that President Trump exceeded his authority with the proposed tariff plan. Although the White House has appealed the decision, the ruling raised hopes that Trump may scale back from imposing the highest tariff levels he had threatened, lifting global risk sentiment. The U.S. court decision also boosted the U.S. dollar, while safe-haven gold edged lower as investor risk appetite improved. Asian shares and Wall Street futures advanced, supported by chipmaker Nvidia's (NVDA.O), opens new tab quarterly sales beat and positive revenue outlook released after U.S. market hours. Meanwhile, minutes from the latest Federal Reserve meeting revealed concerns about inflation risks tied to Trump's trade policy. Market pricing now sees only a 22% chance of a July rate cut, while the probability for a September cut stood at 60%, having been fully priced a month ago. Back home, the Nifty 50 has shed 0.4% over the past three sessions, consolidating near the 25,000 mark. The index has gained 1.7% in May, on track for its third consecutive monthly gain, supported by robust foreign portfolio investor (FPI) inflows and sequential earnings growth in the March quarter. FPIs net bought 46.63 billion rupees ($546 million) in equities on Wednesday, pushing total May inflows near $2 billion. While the market construct remains positive, volatility is expected to remain elevated through the day amid the monthly derivatives expiry, as traders roll over or square off their positions, two analysts said. ** India's market regulator bars former top executives of IndusInd Bank ( opens new tab from securities trading until further orders over alleged insider trading ** Cummins India ( opens new tab posts a fall in quarterly profit as rising costs offset price hikes ** SAIL ( opens new tab posts quarterly drop on inventory costs ($1 = 85.3860 Indian rupees)
Mint
36 minutes ago
- Business
- Mint
Nvidia share price surges 6% after robust performance in Q1
Nvidia share price jumped as much as 6 per cent in afterhours trading on Wall Street after the IT giant posting record-breaking revenue and data center sales for the first quarter. The IT giant stock climbed to $142.22 apiece on Nasdaq in afterhours trading, against previous close at $135.50. The company posted fiscal first-quarter revenue of $44.06 billion, marking a 69% increase compared to the same period last year and surpassing analysts' forecast of $43.31 billion. Adjusted earnings per share were $0.96, exceeding the expected $0.93. Net income climbed to $18.8 billion, or $0.76 per share, up from $14.9 billion in the previous year. Nvidia's data center unit—which includes its AI chips and networking products—achieved a record $39.1 billion in sales, marking a 73% increase year over year. This segment now contributes a massive 88% of the company's overall revenue. According to CFO Colette Kress, Microsoft alone has already deployed 'tens of thousands' of Nvidia's Blackwell GPUs and is projected to expand that number to 'hundreds of thousands.' For the quarter, GAAP and non-GAAP gross margins were 60.5% and 61.0%, respectively. Excluding the $4.5 billion charge, first quarter non-GAAP gross margin would have been 71.3%. For the quarter, GAAP and non-GAAP earnings per diluted share were $0.76 and $0.81, respectively. Excluding the $4.5 billion charge and related tax impact, first quarter non-GAAP diluted earnings per share would have been $0.96. "Our breakthrough Blackwell NVL72 AI supercomputer — a 'thinking machine' designed for reasoning— is now in full-scale production across system makers and cloud service providers,' said Jensen Huang, founder and CEO of NVIDIA. Huang added, "Global demand for NVIDIA's AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate. 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.' The company also announced a cash dividend of $0.01 per share on July 3, 2025, to all shareholders of record on June 11, 2025. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
39 minutes ago
- Business
- Economic Times
Nvidia shares rise as sales hit from China export curbs not as bad as feared
Nvidia beat quarterly sales expectations as customers stockpiled its AI chips before fresh U.S. curbs on China exports took effect, but the same restrictions will slice off $8 billion in sales from the company's current quarter, forcing the company to offer a forecast below Wall Street estimates on Wednesday. ADVERTISEMENT Shares of the world's most valuable semiconductor firm still rose 5% in extended trading as investors digested news that the hit in the current fiscal second quarter was not as bad as feared, and Nvidia talked up demand for its new Blackwell chips from customers including Microsoft. The stock is relatively flat so far this year, compared with 2024 when the shares nearly tripled in value. Nvidia now faces trade restrictions on what it can sell, and the AI data center market is also maturing. Washington's years-long efforts to thwart Beijing's access to top-of-the-line U.S. technology have resulted in stricter restrictions on the export of Nvidia's AI chips - stifling the company's access to one of the largest markets for semiconductors. Midway through a conference call with analysts, CEO Jensen Huang made impassioned remarks about U.S.-China policy, saying that Nvidia was at risk of being cut off from China's massive AI developer base and arguing that China's chip industry was sophisticated and closing in on the United States' dominance. But he praised U.S. President Donald Trump's recent move to rescind a so-called AI diffusion rule that would have regulated global flows of U.S. AI chips. "President Trump wants America to win. And he also realizes that we're not the only country in the race," Huang said. Huang told analysts that Nvidia's Hopper chips could no longer be modified for the Chinese market but did not comment on its Blackwell chips. Reuters has reported that Nvidia is preparing a Blackwell variant for the Chinese market. Though unlikely to make up for the loss in Chinese revenue, a spate of new deals that Nvidia signed earlier this month in the Middle East could offer fresh avenues of growth - including the first phases of a 10-square-mile data center site in the United Arab Emirates that could eventually use 5 gigawatts' worth of AI infrastructure. The company has also announced similar deals in Saudi Arabia and Taiwan. "We have a line of sight to projects requiring tens of gigawatts of Nvidia AI infrastructure in the not-too-distant future," Nvidia Chief Financial Officer Colette Kress said on the conference call. ADVERTISEMENT But in the shorter term, restrictions on China exports will hurt. Kress said data center revenue in that country declined. U.S. restrictions on the sale of Nvidia's H20 chips to China, the only AI processors it could legally export to the country, prompted Nvidia to disclose in April that it expected a $5.5 billion charge, while Huang had in May pegged the revenue impact related to the restrictions at about $15 billion. On Wednesday, Nvidia said the actual first-quarter charge due to the H20 restrictions was $1 billion less than expected because it was able to reuse some materials. It said it lost $2.5 billion in H20 sales in the first quarter and expected to miss $8 billion in the second quarter. ADVERTISEMENT However, Nvidia also said the H20 brought in $4.6 billion in sales in the first quarter and that China accounted for 12.5% of overall revenue in the first quarter. Gil Luria, an analyst with D.A. Davidson, said the overall impact of the H20 restrictions was less than feared. ADVERTISEMENT "There was a removal of some China revenue from the July quarter guides, but there was also China revenue that was pulled into the first quarter. Chinese buyers were stocking up on H20 ahead of the restrictions, which is what propped up the April quarter," Luria said. Though major cloud companies such as Microsoft and Alphabet have stood their ground on the billions they have earmarked this year for spending on expanding infrastructure for AI data centers, worries about such spending persist amid rapidly changing global trade policies. ADVERTISEMENT On an adjusted basis, Nvidia earned 81 cents per share in the first quarter. Analyst estimates varied widely as Wall Street tried to assess the impact of restrictions on some of Nvidia's chip sales to China. Excluding the charges, first-quarter adjusted earnings per share would have been 96 cents. According to data compiled by LSEG, the estimate for the company's adjusted quarterly earnings was 93 cents per share, with 17 analysts providing estimates after April 15 when Nvidia said H20 shipments would require additional licenses. Nvidia's data center segment revenue was $39.1 billion in the first quarter, compared with analyst estimates of $39.3 billion, according to LSEG data. The company said it has $29.8 billion in commitments to have its products manufactured, an increase from the year before but down quarter-over-quarter. Nvidia, a bellwether of the artificial-intelligence market, expects revenue of $45 billion, plus or minus 2%, in the second quarter, compared with analysts' average estimate of $45.90 billion, according to data compiled by LSEG. The forecast includes a loss in H20 revenue of about $8 billion due to the recent export limitations. "The broader concern is that trade tensions and potential tariff impacts on data center expansion could create headwinds for AI chip demand in upcoming quarters," said Emarketer analyst Jacob Bourne. "This doesn't signal an end to Nvidia's dominance, but highlights that sustaining it will require navigating an increasingly complex landscape of geopolitical, competitive, and economic challenges." (You can now subscribe to our ETMarkets WhatsApp channel)
