Chipmaker Nvidia Corp on Wednesday forecast current-quarter revenue above analysts’ estimates, banking on the supercharged demand for data centers.
The company is the world’s largest maker of graphic and artificial intelligence chips. With tech firms venturing into the “metaverse” and a spike in demand for data centers, the company has raked in billions in revenue.
Nvidia expects first-quarter revenue of $8.1 billion, plus or minus 2%, compared with analysts’ estimates of $7.29 billion, according to IBES data from Refinitiv.
The results come on the heels of SoftBank Group Corp’s collapsed deal to sell chip designer Arm to Nvidia. Worth up to $50 billion at current market prices, it would have been the largest chip deal ever.
Nvidia reported fourth-quarter revenue of $7.64 billion, compared with estimates of $7.42 billion.
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