Nvidia’s Big Revenue Forecast Isn’t Enough for Wall Street

Nvidia may be the chipmaker at the heart of the artificial intelligence boom, but its massive revenue forecast still fell short of some of the more optimistic estimates. And that in turn stoked concern that its explosive growth may be slowing. Third-quarter revenue will be about $32.5 billion, the company said Wednesday, which would look like a win if you consider that analysts had predicted $31.9 billion on average. But some pinned the forecast as high as $37.9 billion. And that, in tandem with production snags of its highly anticipated Blackwell chip, weighed on the company's shares in late trading. More broadly, the outlook could threaten to tamp down the AI frenzy that's transformed Nvidia into the world's second-most-valuable company. The chipmaker has been the key beneficiary of a race to upgrade data centers to handle AI software, and its sales forecasts—as is the case today—have become a barometer for that spending boom .

Super Micro Computer said it will delay filing its annual financial disclosures, setting off the stock's largest intraday decline in almost six years. The San Jose, California-based server maker requires additional time "to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting," the company said in a filing Wednesday morning. This filing delay comes a day after short-seller Hindenburg Research released a critical report alleging "glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues."