Chip giant Nvidia beats expectations

By Agence France-Presse

Aug 30, 2024 12:10 am

SAN FRANCISCO, California — Artificial intelligence (AI) behemoth Nvidia on Wednesday said quarterly sales reached a higher-than-expected $30 billion in the last quarter, though that growth was slower than the furious pace seen in previous quarters.

Declared by Wall Street to be the world's most important stock, the California-based AI chipmaker led by Chief Executive Officer (CEO) Jensen Huang saw its share price fall by about 4 percent in after-hours trading.

GROWING A sign for an Nvidia office building is shown in Santa Clara, California, on Aug. 7, 2024. Nvidia on Aug. 28, 2024 posted higherthan-expected sales in the previous quarter amounting to $30 billion. AP PHOTO

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