Nvidia forecast July-quarter revenue of $91 billion, above analysts’ $87 billion
average estimate but below projections as high as $96 billion, disappointing
investors are accustomed to stronger beats. Shares fell about 3% in late trading.
Competition in AI accelerators is increasing as rivals including Advanced Micro
Devices, Broadcom and Alphabet expand their offerings. CEO Jensen Huang
maintained that Nvidia can continue delivering unprecedented growth as AI demand
remains strong. Wall Street expects Nvidia to generate more than one-third of
global semiconductor industry revenue this year.
