Summary
Nvidia's recent quarterly report showed an increase in sales of its AI chipsets, but sales were slightly lower than analysts expected. Despite this, Nvidia's total profits and revenue exceeded predictions, but concerns about a slowing AI market affected the company's stock price. The U.S. government's previous sales ban on Nvidia’s AI chips in China also impacted sales.
Key Facts
- Nvidia's AI chip sales grew 56% compared to the previous year.
- AI chip sales for the quarter reached $41.1 billion, just below the $41.3 billion forecast.
- Nvidia's total revenue was $46.7 billion, which was 56% higher than last year.
- The company's profit was $26.4 billion, higher than analysts predicted.
- Nvidia's stock price slipped 2% in extended trading after the earnings report.
- A U.S. ban on AI chip sales to China affected Nvidia's sales by about $8 billion.
- Nvidia forecasts $54 billion in revenue for the next quarter, slightly above analyst expectations.
- Nvidia executives remain confident in future AI investment growth.
