Chief executive Jensen Huang said in a statement that sales of its AI Blackwell systems were “off the charts” and that “cloud GPUs [graphics processing units] are sold out”.<\/p>\n
“There’s been a lot of talk about an AI bubble. From our vantage point, we see something very different,” he said, on a call with analysts.<\/p>\n
“We excel at every phase of AI.”<\/p>\n
The chip-maker’s quarterly report garnered even more attention than usual on Wall Street amid mounting concern that AI stocks are overvalued.<\/p>\n
Those fears had fueled four consecutive daily drops in the S&P 500 index leading up to Wednesday, as questions swirl about returns on AI investments.<\/p>\n
The bar was high heading into Nvidia’s results.<\/p>\n
Adam Turnquist, chief technical strategist for LPL Financial, said the question was not whether the company would beat expectations, “but by how much”.<\/p>\n
“While AI valuations are dominating the news feeds, Nvidia is going about its business in style,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown.<\/p>\n
He said valuations for certain areas of the AI sector “needed to take a breather, but Nvidia is not in that camp”.<\/p>\n
Mr Huang had previously said he expected $500bn in AI chip orders through next year. Investors were looking for details about when the company expects those revenues will come to fruition, and how it plans to fulfill the orders.<\/p>\n
Colette Kress, Nvidia’s chief financial officer, told analysts the company would “probably” be taking more orders on top of the $500bn that had already been announced.<\/p>\n
But she also expressed disappointment about regulatory limits that stymie the company’s ability to export its chips to China, saying the US “must win the support of every developer” including those in China.<\/p>\n
She said Nvidia was “committed to continued engagement” with the American and Chinese governments.<\/p>\n","protected":false},"excerpt":{"rendered":"Chief executive Jensen Huang said in a statement that sales of its AI Blackwell systems were “off the…\n","protected":false},"author":2,"featured_media":272476,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[554,733,4308,86,56,54,55],"class_list":{"0":"post-272475","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-technology","12":"tag-uk","13":"tag-united-kingdom","14":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/272475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=272475"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/272475\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/272476"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=272475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=272475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=272475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}