Nobody builds an AI anything without paying Nvidia first. That is what $75.2 billion in data center revenue in a single quarter looks like on an income statement.
Nvidia reported Q1 fiscal 2027 earnings after the bell on May 20: $81.6 billion total revenue, up 85% year over year. EPS of $1.87 beat estimates. Q2 guidance came in at $89–93 billion, above Wall Street's $87 billion expectation. The company announced an $80 billion share buyback, because when you have more money than you can spend on GPUs, you give it back to shareholders and wait for next quarter.
Every AI lab, every cloud provider, every enterprise IT department that wants to say it is doing AI is paying Nvidia. There is no alternative at scale. AMD exists. It does not compete.
Jensen Huang has been telling anyone who will listen that we are at the beginning of a new industrial revolution and Nvidia is building the machinery for it. The $75.2 billion data center quarter is what it looks like when that claim is, for once, not a keynote slide.