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Nvidia's record result fails to impress investors
Key takeaways
- Nvidia is a central player in AI infrastructure, providing chips to leading AI model developers including Open AI and Meta, meaning its results are closely watched.
- The company reported first-quarter revenue was up 85% on the year to $81.6bn (£60.7bn), while net income more than tripled to $58.3bn.
- However, shares in the company fell 1.6% in after-hours trading with analysts saying investors have got used to Nvidia delivering stellar results and amid some concerns that the firm will face growing competition.
Why this matters: a developing story that could shape the day's news cycle.
Shanaz Musafer Business reporter Nur Photo via Getty Images Chip giant Nvidia reported yet another record quarter with sales and profits beating expectations, seemingly suggesting there's no slowdown in sight for the artificial intelligence (AI) boom.
Nvidia is a central player in AI infrastructure, providing chips to leading AI model developers including Open AI and Meta, meaning its results are closely watched.
The company reported first-quarter revenue was up 85% on the year to $81.6bn (£60.7bn), while net income more than tripled to $58.3bn.
Article preview — originally published by BBC News. Full story at the source.
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