Nvidia shares fall on slowing growth and production concerns

Quick Summary:

Doubling of quarterly revenues to £23bn fails to allay worry about delays to next generation of AI chipsShares in the chip designer Nvidia have fallen after investors were spooked by signs of slowing growth and production issues, despite the artificial intelligence company posting a 122% rise in second-quarter revenues compared with the same period last year.

The Silicon Valley company’s revenues for the period more than doubled to $30bn (£23bn), beating average analyst estimates of $28.7bn.

However, investors were concerned about signs of a slowdown in growth, in particular around its next-generation AI chips, codenamed Blackwell.Continue reading...

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Article Details

Author / Journalist: Kalyeena Makortoff

Category: Artificial-intelligenceTechnology

Markets: United KingdomChinaTaiwan

Topics: Technology Artificial intelligence (AI) Stock markets Computing Technology sector Nvidia Business

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 17:14:13 (3 days ago)

News Timezone: GMT +8:00

News Source URL: theguardian.com

Language: English

Article Length: 1683 words

Reading Time: 10 minutes read

Sentences: 28 lines

Sentence Length: 61 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Guardian

News ID: 22319515

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