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Nvidia finally had a quarter for the gamers again

Nvidia’s former cash cow posted record sales in the first quarter, carrying the company to a sales beat.

5/29/25 2:47PM

As the AI boom continues to, well, boom and Wall Street’s lofty expectations become harder to top, Nvidia found itself relying on an old friend to push it over the edge in its first quarter: gaming.

The AI chip giant beat sales expectations by $792 million, propelled almost entirely by its gaming division, which outperformed Wall Street’s consensus by 32%.

In fact, Nvidia gaming — the company’s golden goose for the first three-ish decades of its existence — posted record sales of $3.76 billion, up a whopping 42% year over year.

According to Nvidia, gaming’s boost was driven by sales of Blackwell architecture, chips used to boost game graphics through DLSS, a both loved and reviled tech that uses AI to render games in higher resolutions. Nvidia chips are also in the soon-to-launch Nintendo Switch 2.

But let’s not get ahead of ourselves: even at an all-time high, gaming revenue was just 8.5% of Nvidia’s overall sales on the quarter. That’s a far cry from early 2022, when the segment made up 45% of total revenue and ChatGPT was nearly a year away from launch. You’d think a division plunging from 45% of revenue to 8.5% in three years would represent disastrous performance, but in Nvidia’s case, it just represents getting leapfrogged by a massive AI boom.

Nvidia’s data center revenue has grown at about 10x the rate of gaming and is up more than 800% from the same quarter two years ago.

Still, that’s not to say the gaming division isn’t a beefy business in and of itself. At $3.76 billion, the segment posted higher sales figures than the most recent overall quarterly sales of companies like Keurig Dr Pepper, Ulta Beauty, and Chipotle. The division was just a few million dollars shy of the total revenue posted by fellow semiconductor company Texas Instruments.

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Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽

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The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

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GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

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