According to NVIDIA’s (NVDA.US) investor relations website, the company reported first-quarter revenue of $81.6 billion for fiscal year 2027, representing an 85% year-over-year increase and a 20% quarter-over-quarter increase, setting a new all-time high.
According to Zhitong Finance APP, NVIDIA (NVDA.US) reported first-quarter fiscal 2027 results on its investor relations website, showing quarterly total revenue of USD 81.6 billion, an 85% year-over-year increase and a 20% sequential increase, setting another all-time high. Of this, the Data Center segment—the core engine of AI—contributed USD 75.2 billion, surging 92% year-over-year and accounting for 92% of total revenue, underscoring that AI infrastructure remains a powerful growth driver for the company.
Notably, the company provided an optimistic outlook for the second quarter, forecasting revenue between USD 89.1 billion and USD 92.8 billion—once again exceeding market consensus. Shipments of the Blackwell platform are progressing smoothly, and the newly launched Vera CPU is unlocking additional demand, as AI training and inference requirements continue to surge, reflecting accelerating AI infrastructure buildout.
NVIDIA’s stellar performance reaffirms its robust growth momentum in the AI space. Beyond impressive financial metrics, Agentic AI—the most anticipated trend of the year—also drew significant attention during this earnings cycle. Quoting Jensen Huang, NVIDIA’s founder and CEO, during the earnings call: “The construction of AI factories is accelerating at an astonishing pace—it is the largest infrastructure expansion in human history. Agentic AI has arrived and is already creating tangible value across industries, rapidly gaining widespread adoption.”
In fact, as early as this year, Huang outlined the current AI industry chain structure using a ‘five-layer cake’ analogy in a bylined article, with layers from bottom to top being: energy, chips, infrastructure, models, and applications. He noted that the topmost application layer is now rapidly proliferating, and this force will strongly pull demand throughout the entire AI supply chain from top to bottom, generating comprehensive and sustained growth momentum.
NVIDIA’s results corroborate this view. Beyond headline figures, details within the Data Center segment show that Data Center Networking revenue reached USD 14.8 billion, up 199% year-over-year, while core Compute revenue rose 77% year-over-year to USD 60.4 billion. Both segments performed strongly, yet they signal a shift in AI-sector growth drivers—from ‘chip performance’ to ‘system-level efficiency.’
From the above perspective, beneficiaries in the AI sector are no longer limited to chip companies alone. As Huang’s ‘five-layer cake’ analogy suggests, the entire industry chain stands to benefit simultaneously. In terms of AI exposure, ETFs offer a cost-efficient way to invest directly across multiple domains and capture growth opportunities throughout the ecosystem. For example, the E Fund Artificial Intelligence ETF (03489.HK) closely tracks the FTSE Custom Artificial Intelligence Select Index, which selects 50 leading AI companies listed in Hong Kong and the U.S. According to foreign media sources, as of May 21, NVIDIA was the ETF’s largest holding at 9.17%, alongside other global leaders in computing power and semiconductors such as Advanced Micro Devices (AMD.US), Broadcom (AVGO.US), Taiwan Semiconductor (TSM.US), Micron Technology (MU.US), Lumentum (LITE.US), and SanDisk (SNDK.US). On the application and model side, it also includes Microsoft (MSFT.US), Apple (AAPL.US), Amazon (AMZN.US), Alphabet (GOOG.US), and Apple (AAPL.US).
The ETF’s dual exposure to both Chinese and U.S. markets reflects the strategic importance of AI development in both regions. In the AI race, the U.S. leads in model development and compute chips but faces constraints due to insufficient power generation, limiting data center expansion; China dominates hardware manufacturing capacity—including optical modules and PCBs—and boasts over one quadrillion kilowatt-hours of electricity generation, giving it an energy advantage, though it remains reliant on imported advanced-process chips. Model innovation requires robust energy support, and compute scaling depends on chip supply. By investing in key leaders across both markets, the ETF captures value across the entire AI value chain. Hong Kong-listed holdings include SMIC (00981.HK), Hua Hong Semiconductor (01347.HK), Alibaba-W (09988.HK), Xiaomi Group-W (01810.HK), Tencent (00700.HK), Horizonrobot-W (09660.HK), Ubtech Robotics (09880.HK), and Kingboard Group (00148.HK).
The FTSE Custom Global Artificial Intelligence Select Index, which the ETF tracks, demonstrates strong balance. Since its base date in 2022, the index has achieved a Sharpe ratio of 1.02—above 1—indicating favorable risk-adjusted returns. In terms of performance, as of April 30, 2026, the index’s annualized return since inception slightly outperformed the Nasdaq-100 Index (.NDX.US) and significantly surpassed the Hang Seng Tech Index, showing clear advantages in both total return and Sharpe ratio.
According to media reports, as of May 21, 2026, the FTSE Custom Global Artificial Intelligence Select Index has delivered a return of 20.0% year-to-date in the second quarter.
(Note: The above information presents only the historical performance of the underlying index objectively. Past index performance does not indicate future fund returns and should not be construed as investment advice. Investors should be aware of the risks associated with index volatility. Actual fund returns may differ from index performance due to management fees, tracking error, and other factors. Please note these considerations.)
E Fund AI ETF (03489) is a thematic ETF focused on the global artificial intelligence (AI) industry chain, enabling investors to gain comprehensive exposure to the entire AI sector in a single investment while covering leading companies in both the U.S. and Chinese markets. Investors can achieve broad allocation across key AI segments—including computing power, models, infrastructure, and applications—without being limited solely to the Hang Seng Tech Index (800700) or the Nasdaq Composite Index (.IXIC.US). Amid the AI boom, semiconductor and AI-related companies have emerged as key beneficiaries across major markets, whether in the Hang Seng Index (800000), the S&P 500 Index (.SPX.US), or elsewhere, offering investors a balanced and efficient way to capture long-term AI growth opportunities.
