AI chipmaker Nvidia the dominating force behind the U.S. stock market rally since 2023, forecast third-quarter revenue above Wall Street estimates on Wednesday.
Helped by robust demand for its artificial intelligence chips from cloud providers expanding infrastructure to power generative AI technology, Nvidia expects revenue of $54 billion, plus or minus 2%, in the third quarter. That compared with analysts' average estimate of $53.14 billion, according to data compiled by LSEG.
