Reuters
Nvidia forecasts fourth-quarter revenue above estimates
A.Smith3 months ago
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A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/ File Photo Acquire Licensing Rights
Nov 21 (Reuters) - Chip designer Nvidia (NVDA.O) forecast fiscal fourth-quarter revenue above Wall Street targets on Tuesday on expectations that improving supply chain dynamics will help it meet strong demand for its artificial intelligence chips. Nvidia, which outsources manufacturing to chipmakers like TSMC, has said it expects supply for its AI chips to improve each quarter, with the company making prepayments and placing non-cancellable orders to ensure suppliers prioritize its chips. Demand for AI servers has seen a rapid growth, with research firm TrendForce estimating shipments to rise about 40% this year. Despite the expanded China chip export curbs, analysts expect Nvidia's orders books to be full until at least August next year, as demand for its AI chips, especially in the United States, continues to outstrip supply. The company expects current-quarter revenue of $20 billion, plus or minus 2%. Analysts polled by LSEG expect revenue of $17.86 billion. Adjusted third-quarter revenue rose 206% to $18.12 billion, compared to estimates of $16.18 billion.Read the full article:https://www.reuters.com/technology/nvidia-forecasts-fourth-quarter-revenue-above-estimates-2023-11-21/
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