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Nvidia forecasts first-quarter revenue above estimates

News Snapshot:

Nvidia NVDA-Q forecast first-quarter revenue above market estimates on Wednesday, expecting robust demand for its leading AI chips to persist as businesses spend heavily to expand generative artificial intelligence infrastructure. Its shares rose about 1% in choppy extended trading, after closing up 3.7% in regular trading. Nvidia is the biggest beneficiary of a rally in AI-linked stocks, with its shares up more than 400% over the last two years. The company expects revenue of US$43 billion, plus or minus 2% for the first quarter, compared with analysts’ average estimate of $41.78 billion according to data compiled by LSEG. Demand has…

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