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AI chip leader Nvidia forecasts fourth-quarter revenue above estimates

Published 2024-11-20, 04:34 p/m
© Reuters. FILE PHOTO: A piece of equipment with an Nvidia logo is displayed at COMPUTEX in Taipei, Taiwan June 4, 2024. REUTERS/Ann Wang/File Photo
NVDA
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© Reuters. FILE PHOTO: A piece of equipment with an Nvidia logo is displayed at COMPUTEX in Taipei, Taiwan June 4, 2024. REUTERS/Ann Wang/File Photo

(Reuters) - Nvidia (NASDAQ:NVDA) forecast fourth-quarter revenue above market estimates on Wednesday, betting on sustained demand for its leading AI chips from businesses racing to adopt the latest generative artificial-intelligence technology.

The company forecast revenue of $37.5 billion, plus or minus 2% for the fourth quarter, compared with analysts' average estimate of $37.09 billion according to data compiled by LSEG.

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