Nvidia reported strong Q1 earnings with rising revenue and net income, but faces challenges from U.S. export restrictions on AI chips to China, that will impact future sales.

Nvidia’s earnings have become some of the most closely watched numbers on Wall Street. The company makes up about 6.5% of the Nasdaq 100 and 5.5% of the S&P 500, so a good quarter can send the Nasdaq index soaring. A marginal or poor one can send it tumbling.