"The chipmaker at the heart of the artificial intelligence boom calmed fears of a bursting bubble and pushed markets higher by beating Wall Street forecasts, and giving a strong forecasts for its future performance. Jensen Huang, founder and CEO of Nvida, tried to squish bubble fears, declaring that We've entered the virtuous cycle of AI Huang told analysts last night: There's been a lot of talk about an AI bubble. From our vantage point, we see something very different."
"As a reminder, Nvidia is unlike any other accelerator. We excel at every phase of AI from pre-training to post-training to inference. Sales are up 62% year-over-year, reflecting the massive demand for its chips to power AI systems. The company reported $51.2bn in revenue from data-center sales, beating expectations of $49bn. And crucially for market sentiment, Nvidia sees faster growth than expected."
"Kyle Rodda, senior financial market analyst at capital.com, calls the results practically spotless, explaining: The stock is up after hours and that's pushed US futures higher, with Asian stock markets likely to follow suit. Something could go wrong as investors parse the details over the course of the day. However, after a torrid few weeks of trade, especially over the last three days, to paraphrase Ice Cube, today could be a good day."
Nvidia reported robust demand for its AI chips, delivering 62% year-over-year sales growth and $51.2bn in data-center revenue, above expectations. The company projected about $65bn in fourth-quarter revenue versus analysts' $61bn estimate, prompting a roughly 5% after-hours share rise and higher US futures. CEO Jensen Huang described a "virtuous cycle of AI" and emphasized Nvidia's strength across pre-training, post-training and inference stages. Analysts labeled the results nearly flawless and noted the announcement eased concerns over elevated AI valuations, improving investor sentiment after recent volatile trading.
Read at www.theguardian.com
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