STORY: Nvidia on Wednesday forecast second-quarter revenue above Wall Street expectations, and assured investors that new customers would let it maintain blockbuster rates of growth. The world's most valuable company expects sales of around $91 billion, compared with estimates of about $87 billion.For the first quarter, Nvidia reported revenue of $81.6 billion, also beating forecasts.However, its shares dropped over 1% in extended trading, in a sign that investors believe Nvidia will face tougher competition.That could come from U.S. rivals Intel and AMD, which are finding new demand for their chips in AI applications. Nvidia CEO Jensen Huang told analysts his firm would grow faster than so-called "hyperscale" customers like Alphabet and Amazon.He pointed to a new segment of smaller customers in its data center business that includes AI-specific cloud firms.He added that the company's new "Vera" central processors give it access to a $200 billion market.Huang said Nvidia expects $20 billion in revenue from the new silicon by the end of this fiscal year, in addition to the $1 trillion for existing Blackwell and Rubin chips by 2027.
Nvidia bets on new data center chips as sales outlook tops estimates
STORY: Nvidia on Wednesday forecast second-quarter revenue above Wall Street expectations, and assured investors that new customers would let it maintain blockbuster rates of growth. The world's most valuable company expects sales of around $91 billion, compared with estimates of about $87 billion.For the first quarter, Nvidia reported revenue of $81.6 billion, also beating forecasts.However, its shares dropped over 1% in extended trading, in a sign that investors believe Nvidia will face tougher competition.That could come from U.S. rivals Intel and AMD, which are finding new demand for their chips in AI applications. Nvidia CEO Jensen Huang told analysts his firm would grow faster than so-called "hyperscale" customers like Alphabet and Amazon.He pointed to a new segment of smaller customers in its data center business that includes AI-specific cloud firms.He added that the company's new "Vera" central processors give it access to a $200 billion market.Huang said Nvidia expects $20 billion in revenue from the new silicon by the end of this fiscal year, in addition to the $1 trillion for existing Blackwell and Rubin chips by 2027.
STORY: Nvidia on Wednesday forecast second-quarter revenue above Wall Street expectations, and assured investors that new customers would let it maintain blockbuster rates of growth. The world's most valuable company expects sales of around $91 billion, compared with estimates of about $87 billion.For the first quarter, Nvidia reported revenue of $81.6 billion, also beating forecasts.However, its shares dropped over 1% in extended trading, in a sign that investors believe Nvidia will face tougher competition.That could come from U.S. rivals Intel and AMD, which are finding new demand for their chips in AI applications. Nvidia CEO Jensen Huang told analysts his firm would grow faster than so-called "hyperscale" customers like Alphabet and Amazon.He pointed to a new segment of smaller customers in its data center business that includes AI-specific cloud firms.He added that the company's new "Vera" central processors give it access to a $200 billion market.Huang said Nvidia expects $20 billion in revenue from the new silicon by the end of this fiscal year, in addition to the $1 trillion for existing Blackwell and Rubin chips by 2027.
- STORY: Nvidia on Wednesday forecast second-quarter revenue above Wall Street expectations, and assured investors that new customers would let it maintain blockbuster rates of growth.
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