Nvidia’s first-quarter earnings top Wall Street estimates as data-center revenue surges 73%, HP Inc. tumbles after cutting its fiscal-year outlook, and Tesla rises as CEO Elon Musk ends his work for the Trump administration.

The results announced Wednesday for the February-April period came against the backdrop of President Donald Trump’s on-again, off-again trade war that has whipsawed Nvidia and other Big Tech companies riding AI mania to propel their revenue and stock prices upward.

The AI chip maker’s shares rose more than 5% after hours as quarterly revenue surged to a record $44 billion.

Nvidia is trading at an attractive valuation going into its earnings report considering the potential acceleration in its bottom-line growth this fiscal year. The healthy state of AI hardware spending should be a tailwind for Nvidia's guidance.

As a leader in the AI space, Nvidia remains one of the market's most actively traded stocks. "Global demand for Nvidia's AI infrastructure is incredibly strong," said Nvidia CEO Jensen Huang in a statement.

Nvidia Corp. (NVDA) shares climbed in Wednesday’s extended trading as the artificial intelligence stalwart announced strong quarterly results despite the China chip curb charges, but revenue was a touch soft.

Nvidia reported blockbuster Q1 results, exceeding expectations with record revenue and data center sales driven by surging AI demand. Despite a $4.5 billion hit from U.S. export curbs to China, the company's shares rallied.

Jensen Huang used the company’s earnings call to challenge the president to ease controls on chip exports to China.