Wall Street analysts had forecasted revenue of roughly $46 billion, according to consensus estimates.
Nvidia has become one of the most powerful and richest U.S. technology companies amid the rise of artificial intelligence (AI) technology, including generative AI chatbots and image generators, which use immense computing power
Nvidia has risen to prominence as the top U.S. manufacturer of the semiconductor chips widely used to run AI programs. The company has also found itself caught in the crossfire of the U.S-China battle over AI.
The maker of processors for data centers and server farms is seen as a bellwether for the AI subsector of the tech industry, which is facing concerns over its long-term profitability after huge investments in the wake of the 2022 release of OpenAI’s ChatGPT chatbot.
Traders are bracing for swings upward of 6 percent, or $260 billion, in the company’s stock value, according to options pricing data, compared to moves of about 3 percent over the past several quarters.
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