Nvidia forecasts first-quarter revenue above estimates

News Snapshot:

Chip designer Nvidia forecast fiscal first-quarter revenue above estimates on Wednesday, banking on towering demand for its industry-leading artificial intelligence chips and improving supply chain dynamics. The company forecast current-quarter revenue of $24 billion (€22 billion), plus or minus 2 per cent. Analysts on average were expecting revenue of $22.17 billion, according to LSEG data. The Santa Clara, California-based company’s shares fell about 1 per cent in volatile after-hours trading. Nvidia’s shares have gained more than 30 per cent so far this year as it jockeys with Amazon and Alphabet for a spot among the most valuable companies. READ MORE...