Nvidia earnings from earlier, the announcement was quite the mess!
- Nvidia (NVDA) Q1 EPS 96 (93c expected) Revenue $44.1bn (exp 43.28bn)
- There has been a MASSIVE error in the Nvidia Q1 earnings announcement – shock for markets
- “Nvidia’s business is still booming, even with the company effectively shut out of China”
Nvidia CEO Jensen Huang, speaking after the company’s earnings report, in brief:
- said U.S. export restrictions are accelerating the progress of Chinese AI firms, with Huawei emerging as “quite formidable.”
- As a result of being shut out of its biggest market, Nvidia is bracing for an $8 billion drop in China sales this quarter.
- Huang criticised the effectiveness of the export controls, pointing out that companies like Tencent are increasingly sourcing from domestic suppliers. He noted the competitive gap is narrowing, with Huawei’s newest AI chip now matching the performance of Nvidia’s H200 — while Nvidia’s less powerful H20 model is restricted under current regulations.
- “You cannot underestimate the importance of the China market,” Huang added, highlighting it as home to the world’s largest concentration of AI researchers.
This article was written by Eamonn Sheridan at www.forexlive.com.
