Nvidia forecasts first-quarter earnings above expectations | – #Nvidia #forecasts #firstquarter #earnings #expectations

Feb 22 (Reuters) – Chip designer Nvidia Corp ( NVDA.O ) on Wednesday forecast first-quarter revenue topping Wall Street estimates, expecting an artificial intelligence boom to boost sales of data center chips, sending shares up about 7%. expanded trade.

The world’s largest supplier of graphics processing units (GPUs) is also ramping up production of a data center chip used in artificial intelligence – a move that will take Microsoft’s ( MSFT.O ) to Alphabet’s ( GOOGL.O ) Googleis a priority for large technology companies.

Analysts estimate that Nvidia has about 80% of the GPU market judge since it is the best place to use this boom.

GPUs are used to speed up certain tasks on the computer, as well as to improve the quality of visual images in games.

6.50 of the company in the current quarter billion dollars, predicts a return of plus or minus 2%. According to Refinitiv data, analysts average 6.33 billion dollars they expect income.

Earnings in the quarter ended January 29, analysts averaged 6.01 billion dollars compared to 6.05 billion dollars.

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Reporting by Chavi Mehta in Bengaluru; Edited by Shailesh Kuber and Shinjini Ganguly

Our standards: Thomson Reuters Trust Principles.

2023-02-23 02:02:11
Source – reuters

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