Nvidia Forecast Fails to Meet Loftiest Estimates for AI Star

Bloomberg05:38

(Bloomberg) -- Nvidia Corp. delivered a revenue forecast that failed to meet the highest expectations, showing that its dizzying AI-fueled growth run has its limits. Fiscal fourth-quarter sales will ...

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Though the average analyst estimate was $37.1 billion, according to data compiled by Bloomberg, projections ranged as high as $41 billion.The outlook suggests that AI excitement may be getting ahead of reality. Nvidia investors bid up the shares nearly 200% in 2024, turning it into the world’s most valuable company. But the chipmaker has had trouble keeping up with demand for its products and struggled with production snags this year.But some investors were looking for more of a blowout quarter. Shares of Nvidia fell about 4% in extended trading following the announcement. They previously closed at $145.89 in New York.Nvidia has only missed analysts’ estimates on quarterly revenue once in the past five years. And it has exceeded expecta","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","NVD":"GraniteShares 2x Short NVDA Daily ETF","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","NVDD":"Direxion Daily NVDA Bear 1X Shares","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","2NVD.UK":"2X NVIDIA ETP","SGXZ81514606.USD":"大华环球创新基金A Acc USD","LU0107464264.USD":"abrdn SICAV I - GLOBAL INNOVATION EQUITY \"A\" (USD) ACC","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (SGDHDG) INC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","NVDS":"Tradr 1.5X Short NVDA Daily ETF","BK4585":"ETF&股票定投概念","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","INTC":"英特尔","NVDU":"Direxion Daily NVDA Bull 2X Shares","SNVD.UK":"LS -1X NVIDIA","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","NVD2.UK":"2X NVIDIA ETP","NVDA":"英伟达","NVDX":"T-REX 2X LONG NVIDIA DAILY TARGET ETF","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","NVD3.UK":"LS 3X NVIDIA","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","NVDY":"YIELDMAX NVDA OPTION INCOME STRATEGY ETF","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","3NVD.UK":"LS 3X NVIDIA","BK4527":"明星科技股","LU1861215975.USD":"贝莱德新一代科技基金 A2","NVDS.UK":"LS -1X NVIDIA","BK4543":"AI","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","SG9999014575.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USDHDG) INC","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC"},"translate_title":"英伟达的预测未能达到人工智能明星的最高预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVDA":1,"INTC":0.84,"NVD3.UK":0.6,"NVD":0.6,"NVD2.UK":0.6,"NVDD":0.6,"NVDS":0.6,"NVDS.UK":0.6,"NVDU":0.6,"NVDX":0.6,"NVDY":0.6,"SNVD.UK":0.6,"3NVD.UK":0.6,"2NVD.UK":0.6},"content_text":"(Bloomberg) -- Nvidia Corp. delivered a revenue forecast that failed to meet the highest expectations, showing that its dizzying AI-fueled growth run has its limits. \nFiscal fourth-quarter sales will be about $37.5 billion, the company said in a statement Wednesday. Though the average analyst estimate was $37.1 billion, according to data compiled by Bloomberg, projections ranged as high as $41 billion. \nThe outlook suggests that AI excitement may be getting ahead of reality. Nvidia investors bid up the shares nearly 200% in 2024, turning it into the world’s most valuable company. But the chipmaker has had trouble keeping up with demand for its products and struggled with production snags this year.\nChief Executive Officer Jensen Huang said that Nvidia’s new lineup, called Blackwell, is now in “full production.” Demand for the products is expected to exceed demand for several quarters. Hopper, the previous design, is still in demand, Huang added. \n“AI is transforming every industry, company and country,” he said in the statement. “Industrial robotics investments are surging with breakthroughs in physical AI, and countries have awakened to the importance of developing their national AI and infrastructure.”\nBut some investors were looking for more of a blowout quarter. Shares of Nvidia fell about 4% in extended trading following the announcement. They previously closed at $145.89 in New York.\nEven with a disappointing outlook, Nvidia’s growth over the past two years has been staggering. Its sales are poised to double for a second year in a row, and it now notches more money in profit than it used to generate in total revenue.\nNvidia’s revenue rose 94% to $35.1 billion in the fiscal third quarter, which ended Oct. 27. Excluding certain items, profit was 81 cents a share. Analysts had predicted sales of about $33.25 billion and earnings of 74 cents a share.\nThe company’s biggest moneymaker is its accelerator chip, which helps develop AI models by bombarding them with data. Since OpenAI’s ChatGPT chatbot debuted in 2022, a frenzy of artificial intelligence services has created insatiable demand for the product. \nOther recent earnings reports have given strong signals for AI. Major Nvidia customers, including Microsoft Corp., Amazon.com Inc.’s AWS and Meta Platforms Inc., have reaffirmed their commitment to spend on AI infrastructure.\nNvidia looks to stay ahead of rivals by accelerating its pace of innovation. That includes a commitment to updating its lineup annually. With Blackwell, it has a new collection of chips that are faster and have an improved ability to link up with other semiconductors.\nBut manufacturing challenges have slowed the Blackwell rollout. For now, Nvidia can’t fill all the orders it’s receiving, the company has said. After production improves, supplies will be plentiful, according to Huang.\nNvidia has only missed analysts’ estimates on quarterly revenue once in the past five years. And it has exceeded expectations by as much as 20% in recent periods, creating a high bar for its performance. \nIts data center division alone now has more revenue than its two nearest rivals, Intel Corp. and Advanced Micro Devices Inc., have in total combined. Net income this year is on course to exceed revenue at Intel, a business that was the chip industry’s biggest company for decades.\nNvidia made its name by selling graphics processors, but discovered that the technology also has applications for AI. Its chips help software models during the training process, when they learn to recognize and respond to real-world inputs. Nvidia’s components are also used in systems that then run the software, a stage known as inference, and help power services such as ChatGPT. \nThe Santa Clara, California-based company has rapidly expanded its product lineup to include networking, software and services, as well as fully built-out computer systems. Huang is traveling the world lobbying for a broader adoption of his technology and trying to spread its use by corporations and government agencies.\n(Updates with more from report in fourth paragraph.)\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485217196"}