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Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surges

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LOS ANGELES (AP) — Nvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom — but investors seemed less than im

LOS ANGELES — Nvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom — but investors seemed less than impressed.

Ryan Detrick, chief market strategist at Carson Group, said that despite growing revenue “it appears the bar was just set a tad too high this earnings season.” Nvidia has led the artificial intelligence sector to become one of the stock market’s biggest companies, as tech giants continue to spend heavily on the company's chips and data centers needed to train and operate their AI systems.

Nvidia CFO Colette Kress said during the analyst call that the company is planning to increase production of its Blackwell AI chips beginning in the fourth quarter and continuing through fiscal 2026. Kress said Nvidia expects several billion dollars in Blackwell revenue in the fourth quarter, with shipments of its Hopper graphics processor unit, or GPU, expected to increase in the second half of fiscal 2025.

 

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