Nvidia Delivers Upbeat Forecast to AI-Wary Market
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What is the main topic discussed in this episode?
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This is Bloomberg Tech. Coming up, NVIDIA's latest sale forecast draws a bearish response from investors with concerns over a potential bubble still weighing on the company. Plus, we break down more tech earnings with the CEOs of Snowflake and Chime later this hour. and Warner Brothers Discovery and Paramount both out with earnings too as the bidding war drama continues. Let's get right to our top story. Nvidia is now down around 5%. Earlier in the session, it had been down and on track for its worst day since April of last year. It is a change of direction and sentiment from where we traded in after hours In its earnings print, the forecast for the fiscal first quarter is sales of $78 billion, plus or minus 2%.
Interesting margin guidance. That sales forecast does not include any contribution from data center revenues from China. Let's get to Bloomberg's Ian King, who leads our coverage of this name. It was all about the outlook. So that's the data point, $78 billion of sales there or thereabouts. Actually... Jensen Wong and Colette Crest, the CFO, went beyond that to say that $500 billion guide, which is just Blackwell and Rubin. Actually, they're probably tracking ahead of that. Now the stock is down 5%.
Yeah, you're breaking down the numbers. And we tried to do the same. I spoke to numerous people after the report yesterday. And nobody is pointing to any number and saying that's a problem, that's worse than what we're expecting. Across the board, they were saying the numbers were better than we expected. if there is an identifiable problem, it was this amorphous idea that, well, where's the new story? What's going to take this to the next level?
And is that GTC, Ian?
That was the conclusion that people have come up with. They want Jensen to walk out on stage in San Jose like he does and tell them something new and exciting, show them a new path forward. And that was the end of it, really.
GTC is NVIDIA's big showcase for the audience and those aren't familiar with it. And often they do come out and say something quite big. There were other bits in there. For example, if we continue to talk about how this is a supply constrained industry, right? Detail about how they have inventory and capacity for several quarters, but a warning at the same time from Colette Cress that actually supply is still something to think about. How are they managing the world of intense AI compute demand?
Yeah, I mean, that's just one of the questions that they had to answer and did. And the answer was, look, we've spent a lot of money. We've got a lot of inventory ready. We can support growth into 2027. Right. So asked and answered. At the same time, people were like, oh, what about memory chips?
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:01–6:30
2
What is Nvidia's latest sales forecast and market reaction?
6:30–10:28
3
How do Nvidia's earnings compare to market expectations?
10:28–13:41
4
What challenges does Nvidia face in the AI market?
13:41–17:16
5
How is Nvidia managing supply chain constraints?
17:16–46:06
6
What insights does Snowflake's CEO provide on AI adoption?
46:06–47:27
Speakers
10 identifiedMore from Bloomberg Tech
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