Nvidia Q1 Revenue Surges 85% to $81.6B as Valuation Trails Peers

NVDA•2026-06-03

Nvidia posted Q1 revenue of $81.6 billion, up 85% year-on-year, and analysts forecast 96% growth for the next quarter alongside management’s projection of $1 trillion data-center capex next year. Despite its $5 trillion market cap, Nvidia trades below peer forward P/E multiples, implying 50% upside to match tech valuations.

1. Q1 Financial Results

Nvidia reported Q1 revenue of $81.6 billion, marking an 85% year-on-year increase. The data center segment was the primary driver, fueled by robust demand for its latest GPUs.

2. Future Projections

Analysts expect sequential revenue growth of 96% in the next quarter based on current order momentum. Nvidia forecasts data center capital expenditures will reach $1 trillion next year, underscoring continued enterprise investment in AI infrastructure.

3. Valuation Analysis

At a $5 trillion market capitalization, Nvidia trades below the forward P/E multiples of its big tech peers. This valuation gap suggests potential for at least 50% upside if the stock aligns with industry benchmarks.