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Nvidia stock surged more than 500% over the past three years, driven by strong AI-related growth in both revenue and net income. However, the shares have struggled in recent weeks as investors weighed concerns about the pace of AI spending and the broader economic environment.
In the first quarter of this year, Nvidia stock declined about 6%, signaling a shift in momentum rather than a major collapse. The pullback reflected a mix of company-specific questions—particularly around whether AI spending will remain at current levels—and wider concerns tied to geopolitical instability, including the war in Iran.
Since 2022, Nvidia has faced U.S. export controls that limited sales to China. The company was able to sell a specially designed chip to that market until early last year, when the U.S. halted exports entirely, bringing Nvidia’s China revenue to zero. In the prior fiscal year, China accounted for 13% of Nvidia’s overall revenue.
More recently, the U.S. approved Nvidia to export its H200 chips to China. Nvidia chief Jensen Huang said the company received orders from China and was launching manufacturing to serve those orders. The expectation is that Nvidia will start shipping chips to China and recording related revenue in the second quarter.
Nvidia has expanded its AI ecosystem through partnerships in recent quarters. The article cites an agreement with Nokia, including an investment in the telecom company, aimed at developing AI for telecom as the industry transitions from 5G to 6G. It also notes a partnership with Marvell Technology, which brings Marvell’s technology into Nvidia’s ecosystem to give customers more flexibility as they build out their platforms.
The outlook presented is that Nvidia will make additional AI deals during the second quarter, further strengthening its role across the AI value chain.
The article points to Nvidia trading at about 21x forward earnings estimates, describing the valuation as resembling a “value stock” while the company continues to grow rapidly. Analysts expect revenue in the current quarter to rise by about 77%.
Beyond near-term results, the piece highlights potential growth drivers that investors may watch, including Nvidia’s planned Vera Rubin platform later this year, the broader adoption of agentic AI, and development related to robotics.

In brief\n\nBitcoin dropped to about $93,000, falling back below the EMA50 and putting its recent golden cross at risk of invalidation. The global crypto market cap stands at $3.15 trillion, down 2.38% in 24 hours. On Myriad Markets, 82% of the money is betting on Bitcoin pumping to $100K before…