Nvidia reports strong quarter amid investor jitters over AI boom’s staying power

The company's results far exceeded Wall Street forecasts. (Image: Getty)

Thu, 29 Aug 2024

Nvidia delivered strong quarterly revenue growth and a robust financial outlook, indicating persistent momentum in the nearly two-year-old AI boom despite concerns that investment has surged ahead too quickly.The AI chip giant said on Thursday (NZ time) that sales in the three months to July more than doubled from a year earlier to US$30 billion (NZ$48b), and it projected around US$32.5b for its current quarter. Nvidia’s profit also more than doubled to US$16.6b. All those figures topped Wall Street forecasts in a FactSet survey...

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