Nvidia disappoints investors with forecasts, causing chip stocks to decline. Nvidia's premarket trading dropped 4. 5%, potentially resulting in a $150 billion loss in stock market value. Other chip firms like Broadcom, Advanced Micro Devices, Arm, and Micron also saw a decrease of 1. 6% to 2% in their shares. TSMC, Nvidia's chip manufacturing partner, experienced a 2% decrease in U. S. -listed shares. The decline in Nvidia fell short of the 11% price swing that options market data had anticipated. Despite previously exceeding consensus analyst estimates, Nvidia's soft forecasts overshadowed a beat on second-quarter revenue and adjusted earnings, as well as a $50 billion share buyback.
As a result, market sentiment may be impacted, especially during September, a historically volatile period. Investors are also monitoring the upcoming U. S. employment report and expressing concerns about the increases in spending by major players like Microsoft and Alphabet in the race to dominate AI technology. Nvidia forecasts third-quarter revenue of $32. 5 billion, with estimated growth of 80% from the previous year. The company also expects an adjusted gross margin of 75%. Nvidia's stock, which has had significant growth this year, was valued at a lower price-to-earnings ratio compared to previous years.
Nvidia's Forecasts Disappoint, Leading to Decline in Chip Stocks
Sports broadcasters worldwide are rapidly adopting artificial intelligence (AI) video analytics to transform live game presentations.
ServiceNow Inc., a leading provider of cloud-based platforms and solutions, has released a strong revenue growth forecast for the upcoming third quarter, indicating robust business momentum and positive reception in the market.
HONG KONG, Nov.
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The latest funding round, Series B, has valued Alembic at $645 million.
Marc Andreessen’s 2011 assertion that "software is eating the world" has especially manifested in marketing, culminating recently at the Cannes Lions festival, where tech giants like Amazon, Google, Meta, Microsoft, Netflix, Pinterest, Reddit, Spotify, and Salesforce have overtaken traditional advertising agencies.
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