Nvidia reported an optimistic first-quarter revenue forecast of $43 billion, surpassing analyst estimates of $41.78 billion, fueled by strong demand for its leading AI chips. The company has seen a notable rise of over 400% in its stock over the past two years, fueled by extensive investments as businesses aim to strengthen generative AI infrastructure. Nvidia's fourth-quarter revenue grew 78% to $39.3 billion, alleviating concerns regarding a spending slowdown as competition intensifies with emerging AI models from Chinese startups.
Nvidia expects revenue of $43 billion for Q1 2024, exceeding analysts' estimates, driven by sustained demand for its AI chips in generative AI applications.
The company anticipates a 78% growth in fourth-quarter revenue, underscoring its dominance in the AI chip market as businesses invest heavily in infrastructure.
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