Nvidia stock rose on Thursday after a solid earnings report, but Microsoft managed to hold on to the title of largest U.S. company by market value. Nvidia briefly took the crown as the world's largest company by market cap during afternoon trading,

Stocks were mostly higher Thursday morning on hopes for easing tariff levels and as Nvidia earnings please investors once again.

Nvidia's results were much better than they might seem at first glance. Both the top and bottom lines were hurt by new U.S. government export controls on the company's H20 chip, which it had specifically designed for the Chinese market to comply with the government's second round of advanced AI chip export controls.

Nvidia reported a record $44.1 billion in overall revenue, compared to expectations of $43.3 billion. It also guided investors for $45 billion in fiscal second-quarter sales, even with an expected $8 billion in lost revenue from China sales due to export restrictions. Analysts had penciled in guidance for $45.9 billion.

Super Micro Computer (NASDAQ: SMCI) is one of the biggest data center companies, and many would naturally question whether or not it could also slow down. The company integrates Nvidia’s hottest chips into full racks and ships them to hyperscalers.

Nvidia President and CEO Jensen Huang plans to sell more than $800 million of stock through planned transactions this year. On March 20, he adopted a so-called Rule 10b5-1 plan to sell 6 million Nvidia shares,

Tucked into its quarterly filing, Nvidia for the first time said restrictions on the use of open-source AI models from China could hurt its business.

Nvidia Corporation's Q1 beats estimates with strong growth in Data Center & Gaming. Click here to find out why NVDA stock is a Buy.