Nvidia releases strong revenue forecast highlighting the continuous momentum of AI

Nvidia releases strong revenue forecast highlighting the continuous momentum of AI
04:48, May 23, 2024 Global Market Broadcast

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Special topic: NVIDIA Q1 financial report comprehensively exceeded the expected official share splitting plan

Nvidia, the chip manufacturer at the center of the AI boom, once again gave an optimistic sales forecast, indicating that spending on AI computing is still strong.

The company said in a statement on Wednesday that it expected revenue of about $28 billion in the second fiscal quarter. According to the aggregated data, the average analyst estimate is $26.8 billion. The results of the first fiscal quarter up to April also exceeded expectations.

The optimistic outlook consolidates Nvidia's position as the largest beneficiary of AI spending. The company's so-called artificial intelligence accelerator helps the data center develop chat robot Chips and other cutting-edge tools have become a hot commodity in the past two years, driving the company's sales soaring. Nvidia's market value also soared to more than $2.3 trillion.

Nvidia's shares rose about 4% after hours. As of Wednesday's closing, the stock has risen 92% year to date.

Nvidia also announced one split and ten split.

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