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Nvidia Forecast Shatters Estimates as AI Boom Stays Strong
Posted
May 22, 2024
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May 22, 2024
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1:00Now PlayingNvidia Corp., the chipmaker at the center of an artificial intelligence boom, gave another bullish sales forecast, showing that spending on AI computing remains strong.
Second-quarter revenue will be about $28 billion, the company said Wednesday. Analysts on average had predicted $26.8 billion, according to data compiled by Bloomberg. Results in the fiscal first quarter, which ran through April, also beat projections.
“The next industrial revolution has begun,” Chief Executive Officer Jensen Huang said in a statement, echoing one of his favorite themes. “AI will bring significant productivity gains to nearly every industry and help companies be more cost- and energy-efficient, while expanding revenue opportunities.”
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