NVIDIA reported total revenue of $81.6 billion for the first quarter of fiscal year 2027, which ended on April 26, 2026, with data center sales reaching $75.2 billion, accounting for a high 92% of the total. Despite the recent pullback in AI stocks and chipmaker valuations, NVIDIA CEO Jensen Huang remains optimistic about AI growth. He recently stated that the semiconductor industry needs to expand 5 to 10 times its current size and believes that current demand is driven by infrastructure rather than consumers, differing from historical cycles. However, investors have expressed concerns about NVIDIA's over-reliance on data center spending and customer concentration (three direct customers contribute 54% of revenue).