SAN FRANCISCO (AP) — Nvidia’s sales of its artificial intelligence chipsets rose at a slower pace than analysts anticipated during the company’s latest quarter, a letdown likely to stoke worries that the AI craze has been fool’s gold.
Related Articles
Pro-DEI organizers fired up to maintain Target boycott as promises go unfulfilled Ford recalls more than 355,000 pickup trucks over instrument display failure on the dashboard Wall Street edges higher and pushes S&P 500 to another record Many Americans are stressed about money, 6 ways to cope Trump’s Intel stake sparks cries of ‘socialism’ from his party, but he vows more deals are comingThe results announced Wednesday were hotly anticipated because Nvidia has emerged as a bellwether of a two-year-old AI boom that has been propelling the stock market to new heights while making the Silicon Valley chipmaker the first publicly traded company with a $4 trillion market value.
In recent weeks, though, recent research reports and comments by prominent tech executives have raised investor fears that the AI mania has been mostly overblown.
And now Nvidia’s latest numbers covering the May-July period may feed those perceptions because the sales of the company’s processors, which are indispensable components that power the technology in data centers scattered around the world, appear to be decelerating slightly faster than investors thought they would.
The AI chips are part of Nvidia’s data center division, which posted revenue of $41.1 billion, a 56% increase from the same time last year, but below the analyst forecast of $41.3 billion, according to FactSet Research.
Even so, Nvidia’s profit of $26.4 billion, or $1.08 per share, was higher than analysts predicted, as was its total revenue of $46.7 billion.
But Nvidia’s stock still slipped nearly 3% in extended trading after the fiscal second quarter report came out, indicating the performance wasn’t enough to allay investors’ fears.
Hence then, the article about nvidia s latest quarter shows signs of slowing ai chip sales amid concerns of tech bubble was published today ( ) and is available on GreeleyTribune ( Saudi Arabia ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Nvidia’s latest quarter shows signs of slowing AI chip sales amid concerns of tech bubble )
Also on site :
- Rainbow Six Siege Servers Reportedly Breached — Players Urged to Avoid Logging In
- Texans vs Chargers Spread, Total, and More Odds for Saturday’s Matchup
- Suns’ Mark Williams questionable for 2nd game of back-to-back, Grayson Allen remains out