Nvidia gives solid forecast, even as China slump mars growth
Nvidia Corp., the world's most valuable chipmaker, gave an upbeat revenue forecast for the current period, even as a slowdown in China weighed on results.
Sales will be about US$45 billion in the second fiscal quarter, which runs through July, the company said on Wednesday. That included the loss of roughly US$8 billion in revenue from China because of export controls. The forecast was in line with analysts' estimates, according to data compiled by Bloomberg.
The outlook shows that Nvidia is ramping up production of Blackwell, its latest semiconductor design.
The chipmaker – now the world's largest by revenue – dominates the market for AI accelerators, the components that help develop and run artificial intelligence models. And an ever-broader line-up of hardware and software is letting Nvidia sell more products to customers.
As part of that push, the company is increasingly offering its chips as part of whole computer systems – a move it says is necessary to speed up the deployment of more complex and powerful technology.
Nvidia expects AI infrastructure to eventually transform much of the economy, part of what Chief Executive Officer Jensen Huang refers to as a new industrial revolution.
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