NVDIA Trading stats for today
Chip designer Nvidia
NVDA forecast fiscal first-quarter revenue above estimates on Wednesday, banking on towering demand for its industry-leading artificial intelligence chips and improving supply chain dynamics.
The company forecast current-quarter revenue of $24.0 billion, plus or minus 2%. Analysts on average were expecting revenue of $22.17 billion, according to LSEG data.
The Santa Clara, California-based company's shares fell about 1% in volatile after-hours trading.
Nvidia's shares have gained more than 30% so far this year as it jockeys with Amazon.com
GOOG for a spot among the most valuable companies.
The already hefty demand for the company's data center chips and graphics processing units (GPUs) continues to grow as firms scramble to expand their AI offerings. Nvidia's silicon dominates the global market for AI chips, where it counts the likes of Microsoft
MSFT among its customers.
The AI front-runner's supply chains, which have been unable to match the soaring demand for Nvidia's chips, are also improving.
Analysts expect major supplier Taiwan Semiconductor Manufacturing Co's (TSMC)
2330 advanced packaging capacity to improve in the first half of the year. This will allow Nvidia to work through the central bottleneck to its ability to deliver more chips to customers.
The AI poster child's revenue has continued to grow despite tightened restrictions on trade with once of its largest markets: China.
Nvidia reported fourth-quarter revenue of $22.10, beating estimates of $20.62 billion.
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