Nvidia’s Forecast Lifts AI Trade
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This is Bloomberg Tech. Coming up, NVIDIA's strong revenue forecast soothes investor concerns about an AI bubble. Our exclusive conversation with CEO Jensen Wang. Plus, the CEO of Palo Alto Networks joins us to discuss its own results and the latest acquisition to boost its AI offerings. An AI pioneer, Yann LeCun, will depart Meta at the end of the year to start a new company. Details later this hour. Now we focus in on the broader markets. We said yesterday, so NVIDIA, so the market, so the market follows NVIDIA higher. But we're up 1.7%, the NASDAQ 100 a breath. of relief when it comes to ai anxieties instead those are quelled a bit ed and not enough even to be shaking off some of the anxiety that comes with the jobs report that maybe maybe we could see a december rate cut we built up a little bit the bond market pricing in now 35 chance of a rate cup come december but really all eyes on this ai trade today
and all eyes on NVIDIA. The stock is up about 3%, had opened up about 5%, and has paired some of that gain in the last half hour or so. $65 billion of sales in the fiscal fourth quarter. Many see that as being healthfully above consensus. There was a lot of fighting talk on the demand side, on the supply side, and how good NVIDIA's technology is. We spoke with NVIDIA's CEO, Jensen Wang, in an exclusive interview post-earnings. Take a listen.
Sales are off the charts for Blackwell. And NVIDIA GPUs in the cloud are sold out. We got plenty of Blackwells to sell you. We have lots of Blackwells coming. We're making a lot of Blackwells. And we have a bunch of Vera Rubins coming. And so business is very, very strong. But we've planned our supply chain incredibly well. We have the largest supply chain in the world.
but we've got a bunch of black wells to sell. Jensen, I tried to go through what the CFO at CollectCrest said about China. In the quarter gone, it seemed like there was not meaningful H20 sales because the demand wasn't there, even if you were permitted to sell H20. And then in the current period and going forward, NVIDIA seems committed to working with both the United States and China to sell what Colette called more competitive compute. Where do we stand with that? And could you just clarify what Colette was talking about in the current state of play for China?
The most important thing she said is that we've said for some time now our forecast for China is zero. All of our forecasts, the guidance that we showed, zero. We should start, that's the most important thing that she said. She also said that effectively China is a very important market to us. It's very important to United States. It's very important to China. We would love the opportunity to be able to re-engage the Chinese market with excellent products that we deliver and to be able to compete globally.
During the call, the US Commerce Department issued a statement saying that
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:01–7:12
2
What insights did Nvidia's CEO share about the company's earnings forecast?
7:12–11:04
3
How is Nvidia's performance affecting investor sentiment in the AI market?
11:04–13:56
4
What factors are contributing to Nvidia's projected revenue growth?
13:56–18:59
5
How is Palo Alto Networks expanding its AI offerings through acquisitions?
18:59–20:09
6
What challenges does Nvidia face in the Chinese market?
20:09–46:43
Speakers
10 identifiedMore from Bloomberg Tech
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