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Nvidia forecast July-quarter revenue of $91 billion, above analysts’ $87 billion average estimate but below projections as high as $96 billion, disappointing investors 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.