AI heavyweight Nvidia forecasts quarterly revenue above estimates

ai heavyweight nvidia forecasts quarterly revenue above estimates

FILE PHOTO: A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. REUTERS/Ann Wang/File Photo

(Reuters) - Nvidia forecast second-quarter revenue above estimates on Wednesday, betting on insatiable demand for its industry-leading chips from businesses adopting artificial intelligence technology.

ai heavyweight nvidia forecasts quarterly revenue above estimates

FILE PHOTO: NVIDIA logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

The company forecast second-quarter revenue of $28 billion, plus or minus 2%. Analysts on average were expecting revenue of $26.66 billion, according to LSEG data.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Arun Koyyur)

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