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Nvidia Corp., the world’s most valuable company, gave a strong revenue forecast for the current period, helping counter concern that a global surge in AI spending is poised to fizzle.
Sales will be about $65 billion in the fiscal fourth quarter, which runs through January, the chipmaker said in a statement Wednesday. Analysts had estimated $62 billion on average, with some predictions ranging as high as $75 billion.
The outlook signals that demand remains strong for Nvidia’s artificial intelligence accelerators, the pricey and powerful chips used to develop AI models. Nvidia has faced growing fears that the runaway spending on such equipment isn’t sustainable.
Huang has repeatedly downplayed concerns about an AI bubble, saying last month that the company has more than $500 billion of revenue coming over the next few quarters. Owners of large data centers will continue to spend on new gear because AI has begun to pay off, he said.
Today's show features:
- Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners, breaks down Nvidia’s latest earnings report
- Bloomberg Tech Co-Host Ed Ludlow reacts to Nvidia’s results and previews his upcoming conversation with CEO Jensen Huang
- Bloomberg News Big Tech Team Leader Sarah Frier on the impact of Nvidia’s results on the broader outlook for AI spending
- Samuel Sahn, Managing Partner, Portfolio Manager at Hazelview Investments, on his firm’s new white paper detailing is how AI is reshaping asset values, operational models, and investment strategies
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