Nvidia reported its fiscal first-quarter results after Wednesday’s closing bell. Investors are focused on the company's ability to withstand restrictions on its China business, as well as Nvidia’s overall trajectory with its new Blackwell lineup.

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,

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.

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

Nvidia stock is up 3.9% at $140.14. According to Dow Jones Market Data, that would be The highest closign level since Jan. 24 when shares finished at $142.62; The largest percent increase since May 14 when it rose 4.

Specifically, Nvidia ( NVDA 3.07%) will announce its first-quarter financial results after the market closes on Wednesday, May 28, and the Federal Reserve will publish the minutes from its May meeting earlier that same day. Then the Commerce Department will release PCE inflation and consumer spending data for April on Friday, May 30.

Nvidia spent $14.5 billion to repurchase 126 million shares during the first quarter to April 27, and increase of 81.3% from the $8 billion spent the same quarter last year. As of April 27, the company was authorized to spend up to $24.

Nvidia reported strong results despite a multibillion-dollar hit tied to U.S. regulations on sales of its AI chip to China.