)'s revenue forecast for the fourth quarter fell short of investors' elevated expectations, sparking concerns about a potential slowdown in the AI boom.
For the fourth quarter, Nvidia projected revenue of $37.5 billion, with a margin of plus or minus 2%, slightly above analysts' consensus of $37.09 billion, according to LSEG data. This outlook suggests a deceleration in revenue growth to about 69.5%, compared to the 94% increase reported in the third quarter.
Revenue from Nvidia's data center segment, a key driver of growth, rose by 112% to $30.77 billion, though this marked a slowdown from the 154% growth seen in the prior quarter. The surge was fueled by ongoing investments from cloud providers expanding infrastructure to meet the demands of generative AI.
hiked the Nvidia price target from $145 to $160, saying that the company’s “modest guide and GM commentary sets the next two quarters in a better spot as the company shifts its focus over to ramping Blackwell.”Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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