NVIDIA Forges Strategic AI Partnerships, Reports Strong Q1 2026 Results Despite Export Setbacks

NVIDIA Corporation (NASDAQ:NVDA) is one of the best QQQ stocks to buy according to hedge funds. On June 19, Simply Wall St reported that NVIDIA entered into a collaboration with Tech Soft 3D and a partnership with Dell Technologies and Trend Micro. These alliances are focused on enhancing interoperability and developing AI-powered cybersecurity solutions.

]In FQ1 2026, NVIDIA reported strong financial results, with revenue reaching $44.1 billion, which was up 69% year-over-year. Data Center revenue was particularly strong and reached $39.1 billion, which was up 73%. Gaming revenue also reached a record $3.8 billion, which grew by 42%.

Looking ahead, NVIDIA forecasts revenue for FQ2 to be ~$45.0 billion, plus or minus 2%, which includes an estimated loss of $8 billion in H20 revenue due to export control limitations. NVIDIA incurred a $4.5 billion charge in FQ1 due to excess inventory and purchase obligations of its H20 products, following US government export license requirements to China.

NVIDIA Corporation (NASDAQ:NVDA) is a computing infrastructure company that provides graphics and compute & networking solutions internationally.

While we acknowledge the potential of NVDA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.