Nvidia stock dips despite optimistic forecast for 'Age of AI'

Published On Nov 20, 2024, 6:04 PM

Nvidia reported better-than-expected fourth-quarter revenue projections, forecasting $37.5 billion compared to Wall Street's $37.09 billion. However, the stock dipped following the announcement as investors were disappointed that the figures did not meet the heightened expectations fueled by Nvidia's significant prominence in the AI sector. Despite the slight downturn, Nvidia's revenue and net income saw substantial year-on-year growth, driven by increasing demand for AI chips and data center expansions. CEO Jensen Huang emphasized the ongoing global shift towards AI technologies and the company's key role in facilitating this transformation.