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Nvidia forecasts quarterly revenue above estimates
- On Wednesday, Nvidia forecast $108 billion in quarterly revenue, beating Wall Street estimates, yet shares fell 1.2% in extended trading as investors remained skeptical about long-term AI market dominance.
- Growing competition from central processors and custom chips by rivals Intel and AMD, coupled with Big Tech customers like Microsoft and Meta investing in in-house chip efforts, has undermined investor confidence.
- Big Tech companies reinforced expectations to spend more than $730 billion on AI infrastructure this year, up significantly from last year's 400 billion outlay, while Nvidia expects a gross margin of roughly 74%.
- Scrutiny has mounted of Nvidia's role in the AI financing ecosystem after it agreed to guarantee deals aimed at raising more than $500 billion, while the company unveiled a Vera Rubin platform using Groq technology in March.
- Despite projecting a revenue opportunity exceeding $1 trillion through 2027, Nvidia has gained just 14.2% so far this year as of Tuesday's close, while AMD and Intel have more than doubled.
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70 Articles
70 Articles
Result represents more than 126% compared to the homologous period
·Paço de Arcos, Portugal
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The US chip manufacturer Nvidia continues to pursue records: For the past quarter, the company reports sales of USD 96 billion, more than twice as much as in the same period a year ago.
·Hamburg, Germany
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Despite strong growth in sales and net profit, investors of Nvidia are at first hardly impressed by the quarterly figures.
·Zürich, Switzerland
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Nvidia's revenue rose to a record $96.2 billion.
·Helsinki, Finland
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Coverage Details
Total News Sources70
Leaning Left9Leaning Right17Center22Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 19%
C 46%
R 35%
Factuality
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