NVIDIA forecasts $91 billion Q2 revenue as AI wave looms
Business
NVIDIA just posted a huge win, with second-quarter revenue forecast at $91 billion, easily beating expectations.
Its data center business remains the company's main growth engine, and CEO Jensen Huang is confident that the biggest wave of AI spending is still ahead.
NVIDIA unveils $80B buyback, 'Vera' chips
Alongside the earnings news, NVIDIA revealed an $80 billion stock buyback and outlined its next-generation "Vera" AI chips, aiming for roughly $20 billion in sales by the end of the current fiscal year.
Still, shares dipped 1.6% after-hours as investors worried about tough competition from cloud giants and custom chip makers.
To keep its lead in AI tech, NVIDIA is ramping up supply commitments to $119 billion and signing big cloud deals worth $30 billion.