Nvidia’s stock price closed up 5.62% after the company officially announced several new products and told investors that it expects revenue in the first quarter to exceed the previous expected.
Nvidia said that as of May this year’s first-quarter revenue may exceed 5.3 billion U.S. dollars, this figure is the company’s expected revenue to investors from February. Previously, some analysts predicted that Nvidia’s sales this quarter would reach 5.32 billion U.S. dollars.
Nvidia’s official said,” Although we have not yet completed the first fiscal quarter of 2022, our total revenue in the first fiscal quarter will exceed our forecast on the year-end earnings conference call. 5.3 billion US dollars.”
Moreover, a sign of the strong performance in the first quarter is that global demand for microchips has remained high, which has led to a shortage of chip supply and high after-sales prices. The latest graphics card series launched by NVIDIA is a typical example. Nvidia’s total revenue in the fourth fiscal quarter increased by 61%.
Nvidia’s official said, “The current overall market demand is still very strong, continued to oversupply, and our channel inventory is still quite short. In addition, we expect that for most of this year, the market demand for chips will continue to exceed supply.”
On Monday, Nvidia officially announced a new server chip called Grace, which is mainly used in new systems running artificial intelligence on servers, software running chatbots and voice recognition, and new products for self-driving cars. Nvidia said that by the end of this year, the company’s chips may be very popular in the market, but its chip shipments will still maintain revenue growth.
Besides, Nvidia also stated that its chip series for industrial cryptocurrency miners will generate as much as 150 million U.S. dollars in revenue in the first fiscal quarter, higher than the previous estimate of 50 million U.S. dollars.
|VIA|
