Nvidia said better times are ahead for its chipmaking business, sensing a huge opportunity for its high-performance chips amid a growing frenzy for the new generation of artificial intelligence tools.<\/p>\n\n\n\n
“AI is at an inflection point, setting up for broad adoption reaching into every industry,\u201d chief executive Jensen Huang said in a statement, noting that this greatly expanded potential demand. \u201cFrom startups to major enterprises, we are seeing accelerated interest in the versatility and capabilities of generative AI.”<\/p>\n\n\n\n
Huang also said that the slump in gaming activity that followed the end of the pandemic has ended, with gamers eagerly upgrading to a new generation of chips.<\/p>\n\n\n\n
Nvidia shares rose 7% in after-hours trade following the report, and the company’s upbeat outlook also fed through into Asian and European markets, lifting the stock prices of chipmakers in both regions. Taiwan Semiconductor Manufacturing stock rose 2.2%, while BE Semiconductor opened 3.1% higher, and Infineon and STMicroelectronics both rose 2.2%.<\/p>\n\n\n\n
The upbeat outlook overshadowed a sharp fall in quarterly net profit, which dropped by more than half from a year earlier to $1.41 billion.\u00a0Revenue\u00a0fell 21% to $6.05B. Both numbers were slightly ahead of consensus forecasts.<\/p>\n\n\n\n
Revenue in its gaming business fell 46% to $1.83B for the quarter, while its data centre business grew revenue 11% to $3.62B.<\/p>\n\n\n\n
The company said it expects revenue of around $6.50B in the current quarter, plus or minus 2%, with gross margins in a 1% range of around 64.1%. Wall Street analysts were looking for Q1 revenue of $6.43B.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nvidia said better times are ahead for its chipmaking business, sensing a huge opportunity for its high-performance chips amid a growing frenzy for the new generation of artificial intelligence tools. “AI is at an inflection point, setting up for broad adoption reaching into every industry,\u201d chief executive Jensen Huang said in a statement, noting that …<\/p>\n","protected":false},"author":9,"featured_media":69779,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[8480,9896,9895,7747],"class_list":["post-80508","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-gaming","tag-logitech","tag-nvidia-stock","tag-pandemic"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80508"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80508\/revisions"}],"predecessor-version":[{"id":80509,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80508\/revisions\/80509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/69779"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}