Nvidia's forecast implies its revenue for the current quarter alone could be more than half the entire sum it made last fiscal year.
Nvidia Corp. stunned Wall Street with Wednesday’s jaw-dropping forecast of $16 billion in revenue for the current quarter, and that may not even be the company’s top-line peak, as its decades of work in accelerated computing pay off in a big way.
When asked if her guidance for revenue represented a peak for Nvidia, Chief Financial Officer Colette Kress would only say that the company is seeing “tremendous demand” and that it has visibility into very strong orders into 2024. As companies get serious about using AI to make themselves more efficient or to augment their own product offerings, they are now rearchitecting their data centers with accelerated computing to process the massive amounts of data needed for training large language models that make up AI applications. Accelerated computing also helps with inference, which deduces answers based on existing data.
Still, Wall Street is trying to get a sense of how long this growth can be sustainable, since at some point companies will have all the chips they need to revamp and upgrade their data centers, and hyperscaler customers like Meta Platforms Inc. META, +2.31%, and cloud services like Microsoft Corp.’s MSFT, +1.41% Azure, Amazon. com Inc.’s AMZN, +0.95% AWS and Alphabet’s GOOGL, +2.55% GOOG, +2.71% Google Cloud will at some point stop spending.
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